Heritage Investors Management Corp purchased a new position in shares of Salesforce.com Inc (NYSE:CRM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,330 shares of the CRM provider’s stock, valued at approximately $405,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Appropriate Balance Financial Services Inc. raised its holdings in Salesforce.com by 6.9% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 513 shares of the CRM provider’s stock valued at $5,928,000 after buying an additional 33 shares during the period. Capital Analysts LLC raised its holdings in Salesforce.com by 14.1% in the 2nd quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock valued at $110,000 after buying an additional 156 shares during the period. Peddock Capital Advisors LLC raised its holdings in Salesforce.com by 3,000.0% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock valued at $121,000 after buying an additional 1,350 shares during the period. People s United Financial Inc. raised its holdings in Salesforce.com by 60.1% in the 2nd quarter. People s United Financial Inc. now owns 1,465 shares of the CRM provider’s stock valued at $127,000 after buying an additional 550 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Salesforce.com in the 2nd quarter valued at about $130,000. Institutional investors and hedge funds own 86.06% of the company’s stock.
CRM has been the topic of several research analyst reports. Stephens restated an “overweight” rating and issued a $107.00 price objective (up from $100.00) on shares of Salesforce.com in a report on Thursday, August 31st. JMP Securities upgraded shares of Salesforce.com to a “positive” rating in a report on Friday, October 6th. Northland Securities restated a “buy” rating and issued a $105.00 price objective on shares of Salesforce.com in a report on Sunday, September 10th. Wells Fargo & Company restated a “buy” rating and issued a $100.00 price objective on shares of Salesforce.com in a report on Thursday, August 24th. Finally, Zacks Investment Research lowered shares of Salesforce.com from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and forty-six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.43.
In other news, CFO Mark J. Hawkins sold 490 shares of Salesforce.com stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $93.52, for a total transaction of $45,824.80. Following the transaction, the chief financial officer now owns 14,886 shares in the company, valued at $1,392,138.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 8,027 shares of Salesforce.com stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $90.29, for a total value of $724,757.83. Following the transaction, the insider now owns 49,913 shares in the company, valued at approximately $4,506,644.77. The disclosure for this sale can be found here. Insiders sold a total of 534,173 shares of company stock worth $51,367,596 over the last 90 days. Insiders own 6.20% of the company’s stock.
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Salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.24. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS.
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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