2,524 Shares in Salesforce.com Inc. (CRM) Acquired by Savant Capital LLC
Savant Capital LLC acquired a new stake in shares of Salesforce.com Inc. (NYSE:CRM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,524 shares of the CRM provider’s stock, valued at approximately $200,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Soroban Capital Partners LP acquired a new stake in Salesforce.com during the first quarter valued at $290,380,000. American Century Companies Inc. raised its stake in shares of Salesforce.com by 54.4% in the second quarter. American Century Companies Inc. now owns 3,297,549 shares of the CRM provider’s stock worth $261,858,000 after buying an additional 1,161,596 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Salesforce.com by 4.3% in the first quarter. Legal & General Group Plc now owns 2,466,990 shares of the CRM provider’s stock worth $182,138,000 after buying an additional 101,277 shares during the last quarter. Standard Life Investments LTD raised its stake in shares of Salesforce.com by 0.8% in the second quarter. Standard Life Investments LTD now owns 2,188,692 shares of the CRM provider’s stock worth $173,826,000 after buying an additional 17,608 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Salesforce.com by 1.7% in the first quarter. 1832 Asset Management L.P. now owns 1,829,100 shares of the CRM provider’s stock worth $224,248,000 after buying an additional 30,600 shares during the last quarter. 87.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of Salesforce.com Inc. (NYSE:CRM) traded down 0.49% during mid-day trading on Friday, reaching $70.91. The company’s stock had a trading volume of 6,707,404 shares. The firm’s 50 day moving average is $74.35 and its 200 day moving average is $77.70. The firm has a market cap of $48.57 billion, a PE ratio of 218.86 and a beta of 1.59. Salesforce.com Inc. has a one year low of $52.60 and a one year high of $84.48.
Salesforce.com (NYSE:CRM) last announced its earnings results on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Salesforce.com had a return on equity of 2.19% and a net margin of 2.91%. The business earned $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
CRM has been the topic of a number of recent research reports. Morgan Stanley reissued an “overweight” rating and set a $107.00 price target on shares of Salesforce.com in a research note on Monday, September 26th. DA Davidson reissued a “neutral” rating and set a $86.00 price target on shares of Salesforce.com in a research note on Wednesday, August 31st. Royal Bank Of Canada cut their price target on Salesforce.com from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, September 1st. BMO Capital Markets initiated coverage on Salesforce.com in a research note on Tuesday, June 14th. They set an “outperform” rating and a $98.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and set a $96.00 price target (down from $98.00) on shares of Salesforce.com in a research note on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $92.56.
In related news, insider Alexandre Dayon sold 2,158 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $73.82, for a total value of $159,303.56. Following the completion of the transaction, the insider now owns 17,454 shares of the company’s stock, valued at $1,288,454.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Wojcicki acquired 1,356 shares of Salesforce.com stock in a transaction that occurred on Monday, September 19th. The stock was acquired at an average cost of $73.71 per share, with a total value of $99,950.76. Following the purchase, the director now directly owns 14,147 shares of the company’s stock, valued at $1,042,775.37. The disclosure for this purchase can be found here. 6.70% of the stock is owned by corporate insiders.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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