Salesforce.com (CRM) Shares Sold by Pendal Group Ltd

Pendal Group Ltd lessened its stake in Salesforce.com (NYSE:CRM) by 2.1% in the 1st quarter, Holdings Channel reports. The firm owned 26,051 shares of the CRM provider’s stock after selling 559 shares during the period. Pendal Group Ltd’s holdings in Salesforce.com were worth $3,030,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Buckingham Capital Management Inc. raised its position in shares of Salesforce.com by 18.6% during the 3rd quarter. Buckingham Capital Management Inc. now owns 21,473 shares of the CRM provider’s stock valued at $2,006,000 after acquiring an additional 3,360 shares during the last quarter. Atria Investments LLC raised its position in shares of Salesforce.com by 24.8% during the 4th quarter. Atria Investments LLC now owns 11,156 shares of the CRM provider’s stock valued at $1,140,000 after acquiring an additional 2,216 shares during the last quarter. Oliver Luxxe Assets LLC raised its position in shares of Salesforce.com by 15.9% during the 4th quarter. Oliver Luxxe Assets LLC now owns 11,348 shares of the CRM provider’s stock valued at $1,160,000 after acquiring an additional 1,554 shares during the last quarter. Bank of Montreal Can raised its position in shares of Salesforce.com by 9.3% during the 4th quarter. Bank of Montreal Can now owns 1,268,306 shares of the CRM provider’s stock valued at $129,661,000 after acquiring an additional 108,350 shares during the last quarter. Finally, National Pension Service raised its position in shares of Salesforce.com by 7.6% during the 4th quarter. National Pension Service now owns 585,923 shares of the CRM provider’s stock valued at $59,899,000 after acquiring an additional 41,375 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Salesforce.com stock opened at $128.13 on Wednesday. Salesforce.com has a one year low of $126.09 and a one year high of $128.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $93.38 billion, a PE ratio of 284.73, a price-to-earnings-growth ratio of 5.49 and a beta of 1.24.

Salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.81 billion. Salesforce.com had a net margin of 1.22% and a return on equity of 3.86%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. sell-side analysts expect that Salesforce.com will post 0.96 earnings per share for the current fiscal year.

Several brokerages have commented on CRM. SunTrust Banks upped their target price on shares of Salesforce.com to $133.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Salesforce.com in a research report on Thursday, April 5th. Jefferies Group upgraded shares of Salesforce.com from a “hold” rating to a “buy” rating and dropped their target price for the company from $97.00 to $84.00 in a research report on Thursday, February 15th. Citigroup upped their target price on shares of Salesforce.com from $124.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Finally, Canaccord Genuity upped their target price on shares of Salesforce.com from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Six equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $125.79.

In other news, Chairman Marc Benioff sold 5,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $113.23, for a total value of $566,150.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan Wojcicki bought 6,000 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was purchased at an average cost of $127.82 per share, for a total transaction of $766,920.00. Following the completion of the acquisition, the director now owns 52,393 shares in the company, valued at approximately $6,696,873.26. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 412,925 shares of company stock worth $49,888,627. 6.00% of the stock is owned by insiders.

Salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management. The company offers Sales Cloud to store data, monitor leads and progress, forecast opportunities, and gain insights through analytics and relationship intelligence, as well as deliver quotes, contracts, and invoices.

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Institutional Ownership by Quarter for Salesforce.com (NYSE:CRM)

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