Next Capital Management LLC Increases Stake in salesforce.com, inc. (NYSE:CRM)

Next Capital Management LLC boosted its stake in salesforce.com, inc. (NYSE:CRM) by 405.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 404 shares of the CRM provider’s stock after purchasing an additional 324 shares during the period. Next Capital Management LLC’s holdings in salesforce.com were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. TimesSquare Capital Management LLC purchased a new position in salesforce.com in the 2nd quarter worth approximately $6,766,000. Wealth Enhancement Advisory Services LLC purchased a new position in salesforce.com in the 2nd quarter worth approximately $1,981,000. Envestnet Asset Management Inc. increased its stake in salesforce.com by 16.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 367,480 shares of the CRM provider’s stock worth $55,758,000 after purchasing an additional 52,019 shares during the period. Candriam Luxembourg S.C.A. increased its stake in salesforce.com by 5.1% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 285,351 shares of the CRM provider’s stock worth $43,106,000 after purchasing an additional 13,931 shares during the period. Finally, Ocean Capital Management LLC increased its stake in salesforce.com by 1.9% in the 2nd quarter. Ocean Capital Management LLC now owns 18,764 shares of the CRM provider’s stock worth $2,847,000 after purchasing an additional 347 shares during the period. 82.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE CRM traded up $1.91 during mid-day trading on Friday, hitting $144.04. 338,632 shares of the stock traded hands, compared to its average volume of 7,385,170. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.96. salesforce.com, inc. has a 52 week low of $113.60 and a 52 week high of $167.56. The company has a market cap of $111.65 billion, a price-to-earnings ratio of 99.41, a PEG ratio of 5.29 and a beta of 1.27. The stock has a fifty day moving average price of $152.52 and a 200-day moving average price of $156.59.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The firm’s revenue was up 24.3% on a year-over-year basis. As a group, sell-side analysts predict that salesforce.com, inc. will post 1.25 EPS for the current fiscal year.

In other salesforce.com news, Chairman Marc Benioff sold 10,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $140.98, for a total value of $1,409,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Amy E. Weaver sold 5,627 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $141.10, for a total value of $793,969.70. Following the completion of the sale, the insider now directly owns 33,316 shares in the company, valued at $4,700,887.60. The disclosure for this sale can be found here. Insiders sold 320,498 shares of company stock worth $49,033,859 over the last three months. Corporate insiders own 5.50% of the company’s stock.

CRM has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating and set a $180.00 target price on shares of salesforce.com in a research note on Monday, June 3rd. Wedbush reissued an “outperform” rating and set a $192.00 target price on shares of salesforce.com in a research note on Friday, May 31st. ValuEngine cut salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Monness Crespi & Hardt reissued a “buy” rating and set a $200.00 target price (up from $195.00) on shares of salesforce.com in a research note on Wednesday, June 5th. Finally, SunTrust Banks boosted their target price on salesforce.com to $189.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the stock. salesforce.com currently has a consensus rating of “Buy” and an average target price of $180.00.

About salesforce.com

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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