Louisiana State Employees Retirement System increased its position in shares of Salesforce.com Inc (NYSE:CRM) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,500 shares of the CRM provider’s stock after buying an additional 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Salesforce.com were worth $3,594,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in shares of Salesforce.com during the fourth quarter worth about $16,734,000. Perigon Wealth Management LLC increased its stake in shares of Salesforce.com by 49.2% in the fourth quarter. Perigon Wealth Management LLC now owns 46,770 shares of the CRM provider’s stock worth $3,845,000 after buying an additional 15,413 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Salesforce.com by 31.4% in the fourth quarter. Teachers Advisors LLC now owns 2,653,210 shares of the CRM provider’s stock worth $181,639,000 after buying an additional 633,760 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of Salesforce.com during the fourth quarter worth about $3,171,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Salesforce.com during the fourth quarter worth about $1,415,000. Institutional investors own 85.75% of the company’s stock.
Salesforce.com Inc (NYSE:CRM) traded up 0.12% during mid-day trading on Friday, reaching $90.62. 2,108,822 shares of the company were exchanged. Salesforce.com Inc has a 12 month low of $66.43 and a 12 month high of $92.13. The stock’s 50-day moving average is $88.36 and its 200-day moving average is $84.69. The company has a market cap of $64.54 billion, a P/E ratio of 479.47 and a beta of 1.28.
Salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Thursday, May 18th. The CRM provider reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. Salesforce.com had a return on equity of 1.80% and a net margin of 1.49%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business earned $0.24 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts expect that Salesforce.com Inc will post $1.30 earnings per share for the current year.
A number of analysts have issued reports on CRM shares. Vetr downgraded shares of Salesforce.com from a “strong-buy” rating to a “buy” rating and set a $91.96 price target on the stock. in a report on Monday, April 3rd. Barclays PLC boosted their target price on shares of Salesforce.com from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Credit Suisse Group started coverage on shares of Salesforce.com in a report on Thursday, April 27th. They issued an “outperform” rating and a $110.00 target price on the stock. Benchmark Co. started coverage on shares of Salesforce.com in a report on Thursday, April 27th. They issued an “outperform” rating and a $100.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Salesforce.com from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-one have assigned a buy rating to the company’s stock. Salesforce.com presently has a consensus rating of “Buy” and an average price target of $97.41.
In other Salesforce.com news, Director Susan Wojcicki purchased 1,100 shares of the company’s stock in a transaction on Monday, June 5th. The shares were bought at an average cost of $90.89 per share, with a total value of $99,979.00. Following the transaction, the director now directly owns 30,517 shares in the company, valued at approximately $2,773,690.13. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Burke F. Norton sold 379,189 shares of Salesforce.com stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $91.37, for a total value of $34,646,498.93. Following the sale, the executive vice president now directly owns 82,843 shares in the company, valued at approximately $7,569,364.91. The disclosure for this sale can be found here. Insiders have sold a total of 1,435,777 shares of company stock valued at $128,643,042 over the last ninety days. Company insiders own 6.70% of the company’s stock.
Salesforce.com Company Profile
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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