Becker Capital Management Inc. Raises Holdings in salesforce.com, inc. (NYSE:CRM)

Becker Capital Management Inc. grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 16.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,975 shares of the CRM provider’s stock after purchasing an additional 17,541 shares during the period. salesforce.com makes up approximately 1.4% of Becker Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Becker Capital Management Inc.’s holdings in salesforce.com were worth $33,353,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its position in shares of salesforce.com by 11.0% during the second quarter. Sequoia Financial Advisors LLC now owns 40,776 shares of the CRM provider’s stock valued at $9,960,000 after purchasing an additional 4,053 shares in the last quarter. Bfsg LLC grew its position in shares of salesforce.com by 8.1% during the second quarter. Bfsg LLC now owns 14,740 shares of the CRM provider’s stock valued at $3,601,000 after purchasing an additional 1,110 shares in the last quarter. Federated Hermes Inc. grew its position in shares of salesforce.com by 4.8% during the second quarter. Federated Hermes Inc. now owns 900,794 shares of the CRM provider’s stock valued at $220,036,000 after purchasing an additional 41,301 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its position in shares of salesforce.com by 118.3% during the second quarter. Jaffetilchin Investment Partners LLC now owns 8,667 shares of the CRM provider’s stock valued at $2,016,000 after purchasing an additional 4,697 shares in the last quarter. Finally, NorthCoast Asset Management LLC grew its position in shares of salesforce.com by 2.3% during the second quarter. NorthCoast Asset Management LLC now owns 104,103 shares of the CRM provider’s stock valued at $25,429,000 after purchasing an additional 2,373 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

CRM has been the subject of a number of analyst reports. Evercore ISI increased their price target on shares of salesforce.com from $325.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, September 24th. They noted that the move was a valuation call. Oppenheimer increased their price target on shares of salesforce.com from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, September 24th. Bank of America increased their price target on shares of salesforce.com from $330.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday. Atlantic Securities initiated coverage on shares of salesforce.com in a report on Monday. They issued an “overweight” rating and a $360.00 price target for the company. Finally, Wolfe Research increased their price target on shares of salesforce.com from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $320.59.

In related news, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $267.44, for a total transaction of $5,348,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 7,262 shares of the business’s stock in a transaction on Monday, November 15th. The shares were sold at an average price of $306.90, for a total transaction of $2,228,707.80. The disclosure for this sale can be found here. Insiders sold 737,826 shares of company stock worth $205,921,946 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

NYSE CRM traded down $2.25 on Thursday, hitting $289.17. The stock had a trading volume of 5,090,392 shares, compared to its average volume of 6,067,207. The business’s fifty day moving average price is $288.13 and its 200 day moving average price is $259.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. salesforce.com, inc. has a 52-week low of $201.51 and a 52-week high of $311.75. The stock has a market cap of $283.10 billion, a price-to-earnings ratio of 116.13, a price-to-earnings-growth ratio of 8.37 and a beta of 1.07.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The business had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, sell-side analysts anticipate that salesforce.com, inc. will post 2.15 EPS for the current year.

salesforce.com Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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

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