Cim Investment Mangement Inc. Decreases Stake in salesforce.com, inc. (CRM)
Cim Investment Mangement Inc. lowered its stake in salesforce.com, inc. (NYSE:CRM) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,164 shares of the CRM provider’s stock after selling 115 shares during the period. Cim Investment Mangement Inc.’s holdings in salesforce.com, inc. were worth $707,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wetherby Asset Management Inc. boosted its stake in salesforce.com, inc. by 7.7% in the first quarter. Wetherby Asset Management Inc. now owns 10,787 shares of the CRM provider’s stock worth $890,000 after buying an additional 769 shares during the last quarter. Emerald Advisers Inc. PA acquired a new stake in salesforce.com, inc. during the first quarter worth $211,000. Sumitomo Mitsui Asset Management Company LTD boosted its stake in salesforce.com, inc. by 1.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,635,951 shares of the CRM provider’s stock worth $134,949,000 after buying an additional 24,817 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in salesforce.com, inc. by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 67,573 shares of the CRM provider’s stock worth $5,574,000 after buying an additional 300 shares during the last quarter. Finally, Linscomb & Williams Inc. boosted its stake in salesforce.com, inc. by 7.6% in the first quarter. Linscomb & Williams Inc. now owns 4,083 shares of the CRM provider’s stock worth $337,000 after buying an additional 290 shares during the last quarter. Institutional investors own 86.98% of the company’s stock.
salesforce.com, inc. (NYSE:CRM) traded up 0.32% during mid-day trading on Wednesday, reaching $94.13. The company’s stock had a trading volume of 551,751 shares. The firm’s market capitalization is $67.65 billion. The stock’s 50-day moving average is $90.44 and its 200-day moving average is $86.60. salesforce.com, inc. has a 12 month low of $66.43 and a 12 month high of $95.23.
salesforce.com, inc. (NYSE:CRM) last announced its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.24. salesforce.com, inc. had a net margin of 0.69% and a return on equity of 0.87%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the business earned $0.24 earnings per share. salesforce.com, inc.’s quarterly revenue was up 25.7% on a year-over-year basis. On average, equities analysts anticipate that salesforce.com, inc. will post $1.31 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This article was posted by Watch List News and is the property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.watchlistnews.com/cim-investment-mangement-inc-decreases-stake-in-salesforce-com-inc-crm/1532051.html.
Several analysts have weighed in on the stock. Vetr raised shares of salesforce.com, inc. from a “hold” rating to a “buy” rating and set a $95.22 price objective on the stock in a research note on Monday, May 15th. Zacks Investment Research lowered shares of salesforce.com, inc. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $102.00 target price on shares of salesforce.com, inc. in a research report on Monday, July 31st. Wells Fargo & Co reiterated a “buy” rating and set a $100.00 target price on shares of salesforce.com, inc. in a research report on Thursday, August 24th. Finally, Societe Generale set a $110.00 target price on shares of salesforce.com, inc. and gave the stock a “buy” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-five have assigned a buy rating to the company’s stock. salesforce.com, inc. has a consensus rating of “Buy” and a consensus target price of $101.72.
In other salesforce.com, inc. news, Director Susan Wojcicki acquired 1,100 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were acquired at an average cost of $90.89 per share, for a total transaction of $99,979.00. Following the completion of the acquisition, the director now directly owns 30,517 shares of the company’s stock, valued at approximately $2,773,690.13. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $85.73, for a total transaction of $857,300.00. Following the completion of the transaction, the chairman now owns 34,195,300 shares in the company, valued at $2,931,563,069. The disclosure for this sale can be found here. Insiders have sold 1,234,244 shares of company stock worth $111,074,062 over the last quarter. 6.70% of the stock is owned by company insiders.
salesforce.com, inc. Company Profile
Salesforce.com, inc. is a provider of enterprise software, delivered through the cloud, with a focus on customer relationship management (CRM). The Company focuses on cloud, mobile, social, Internet of Things (IoT) and artificial intelligence technologies. The Company’s service offerings are configured and integrated with other platforms and enterprise applications.
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).
Receive News & Ratings for salesforce.com inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.