salesforce.com, inc. (NYSE:CRM) Shares Acquired by Forbes J M & Co. LLP

Forbes J M & Co. LLP raised its stake in shares of salesforce.com, inc. (NYSE:CRM) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,459 shares of the CRM provider’s stock after buying an additional 8,049 shares during the period. salesforce.com makes up 2.5% of Forbes J M & Co. LLP’s portfolio, making the stock its 12th biggest position. Forbes J M & Co. LLP’s holdings in salesforce.com were worth $12,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Asset Dedication LLC boosted its holdings in shares of salesforce.com by 45.3% in the first quarter. Asset Dedication LLC now owns 218 shares of the CRM provider’s stock worth $35,000 after buying an additional 68 shares during the period. Arcadia Investment Management Corp MI boosted its holdings in shares of salesforce.com by 63.0% in the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after buying an additional 68 shares during the period. Fagan Associates Inc. boosted its holdings in shares of salesforce.com by 1.2% in the first quarter. Fagan Associates Inc. now owns 5,760 shares of the CRM provider’s stock worth $912,000 after buying an additional 70 shares during the period. Savant Capital LLC boosted its holdings in shares of salesforce.com by 2.3% in the first quarter. Savant Capital LLC now owns 3,123 shares of the CRM provider’s stock worth $495,000 after buying an additional 70 shares during the period. Finally, Allred Capital Management LLC boosted its holdings in shares of salesforce.com by 1.6% in the second quarter. Allred Capital Management LLC now owns 4,494 shares of the CRM provider’s stock worth $692,000 after buying an additional 71 shares during the period. 82.05% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on CRM shares. ValuEngine cut shares of salesforce.com from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America reiterated a “buy” rating and issued a $200.00 target price on shares of salesforce.com in a report on Wednesday, June 5th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $180.00 target price on shares of salesforce.com in a report on Monday, June 3rd. UBS Group set a $190.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of salesforce.com in a report on Thursday, June 6th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $180.00.

CRM traded up $2.33 during midday trading on Friday, hitting $144.46. 1,126,790 shares of the company’s stock traded hands, compared to its average volume of 7,385,170. The company has a market cap of $111.65 billion, a PE ratio of 99.63, a price-to-earnings-growth ratio of 5.29 and a beta of 1.27. The stock’s fifty day simple moving average is $152.52 and its 200-day simple moving average is $156.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. salesforce.com, inc. has a one year low of $113.60 and a one year high of $167.56.

salesforce.com (NYSE:CRM) last issued its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.32. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. On average, research analysts expect that salesforce.com, inc. will post 1.25 EPS for the current year.

In related news, CAO Joe Allanson sold 327 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $153.55, for a total transaction of $50,210.85. Following the transaction, the chief accounting officer now owns 30,619 shares of the company’s stock, valued at $4,701,547.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Keith Block sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $156.70, for a total transaction of $391,750.00. Following the transaction, the chief executive officer now directly owns 30,002 shares in the company, valued at approximately $4,701,313.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,498 shares of company stock worth $49,033,859. Insiders own 5.50% of the company’s stock.

salesforce.com 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.

Recommended Story: Hold Rating

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.