Tocqueville Asset Management L.P. increased its position in shares of Salesforce.com Inc (NYSE:CRM) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,715 shares of the CRM provider’s stock after buying an additional 1,945 shares during the period. Tocqueville Asset Management L.P.’s holdings in Salesforce.com were worth $12,118,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its position in Salesforce.com by 68.2% during the third quarter. Canada Pension Plan Investment Board now owns 926,584 shares of the CRM provider’s stock worth $86,561,000 after purchasing an additional 375,600 shares during the period. Westpac Banking Corp boosted its position in Salesforce.com by 61.5% during the third quarter. Westpac Banking Corp now owns 168,929 shares of the CRM provider’s stock worth $15,781,000 after purchasing an additional 64,308 shares during the period. Heritage Investors Management Corp bought a new position in Salesforce.com during the third quarter worth $405,000. Rosenblum Silverman Sutton S F Inc. CA boosted its position in Salesforce.com by 3.8% during the third quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 62,912 shares of the CRM provider’s stock worth $5,877,000 after purchasing an additional 2,300 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Salesforce.com in the third quarter valued at about $5,761,000. Institutional investors and hedge funds own 86.14% of the company’s stock.
In other Salesforce.com news, insider Parker Harris sold 8,026 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $102.58, for a total value of $823,307.08. Following the sale, the insider now directly owns 19,261 shares of the company’s stock, valued at $1,975,793.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexandre Dayon sold 124,331 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $99.00, for a total value of $12,308,769.00. Following the completion of the sale, the insider now directly owns 154,406 shares in the company, valued at $15,286,194. The disclosure for this sale can be found here. Insiders have sold 523,944 shares of company stock worth $50,782,964 over the last three months. Insiders own 6.20% of the company’s stock.
A number of brokerages have recently issued reports on CRM. Mizuho reissued a “buy” rating and issued a $120.00 target price (up previously from $110.00) on shares of Salesforce.com in a research report on Monday. UBS AG assumed coverage on shares of Salesforce.com in a research report on Thursday. They set a “buy” rating for the company. Zacks Investment Research cut shares of Salesforce.com from a “hold” rating to a “sell” rating in a research report on Friday. Deutsche Bank AG upped their price objective on shares of Salesforce.com from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, Bank of America Corporation upped their price objective on shares of Salesforce.com from $114.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and forty-six have given a buy rating to the stock. Salesforce.com has an average rating of “Buy” and an average price target of $107.37.
Salesforce.com Inc (NYSE:CRM) traded up $0.15 on Monday, hitting $105.39. The stock had a trading volume of 207,266 shares, compared to its average volume of 4,364,057. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.08. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $105.38. The stock has a market capitalization of $75,635.98, a PE ratio of 526.20, a PEG ratio of 10.44 and a beta of 1.24.
Salesforce.com (NYSE:CRM) last posted its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.24. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 25.7% compared to the same quarter last year. analysts forecast that Salesforce.com Inc will post 0.4 earnings per share for the current fiscal year.
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
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