Cypress Capital Group lifted its stake in shares of salesforce.com, inc. (NYSE:CRM) by 17.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,682 shares of the CRM provider’s stock after purchasing an additional 5,269 shares during the quarter. salesforce.com comprises 1.0% of Cypress Capital Group’s investment portfolio, making the stock its 27th biggest holding. Cypress Capital Group’s holdings in salesforce.com were worth $4,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CRM. Robeco Institutional Asset Management B.V. lifted its position in salesforce.com by 135.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 54,575 shares of the CRM provider’s stock valued at $6,347,000 after acquiring an additional 31,378 shares in the last quarter. Signaturefd LLC bought a new position in salesforce.com in the 1st quarter valued at about $194,000. Usca Ria LLC bought a new position in salesforce.com in the 1st quarter valued at about $1,801,000. Cambridge Investment Research Advisors Inc. lifted its position in salesforce.com by 25.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,272 shares of the CRM provider’s stock valued at $2,474,000 after acquiring an additional 4,372 shares in the last quarter. Finally, Twin Tree Management LP lifted its position in salesforce.com by 109.2% in the 1st quarter. Twin Tree Management LP now owns 3,258 shares of the CRM provider’s stock valued at $379,000 after acquiring an additional 38,826 shares in the last quarter. 82.74% of the stock is currently owned by institutional investors.

Shares of CRM stock opened at $157.49 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. salesforce.com, inc. has a 12-month low of $92.11 and a 12-month high of $158.79. The company has a market cap of $117.57 billion, a PE ratio of 349.98, a P/E/G ratio of 5.11 and a beta of 1.27.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.24. salesforce.com had a net margin of 6.45% and a return on equity of 8.27%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the business posted $0.33 EPS. salesforce.com’s quarterly revenue was up 27.3% compared to the same quarter last year. equities analysts forecast that salesforce.com, inc. will post 1.22 earnings per share for the current fiscal year.

In other news, General Counsel Amy E. Weaver sold 494 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $147.23, for a total transaction of $72,731.62. Following the completion of the sale, the general counsel now owns 20,764 shares in the company, valued at approximately $3,057,083.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Amy E. Weaver sold 380 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $151.53, for a total transaction of $57,581.40. Following the sale, the general counsel now owns 21,853 shares of the company’s stock, valued at approximately $3,311,385.09. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 18,000 shares of company stock valued at $2,584,260 and have sold 451,184 shares valued at $65,021,825. Company insiders own 6.00% of the company’s stock.

CRM has been the topic of several recent research reports. Bank of America raised their price target on shares of salesforce.com from $161.00 to $181.00 and gave the company a “buy” rating in a research report on Tuesday, August 21st. Morgan Stanley raised their price target on shares of salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a research report on Tuesday, August 14th. BMO Capital Markets raised their price target on shares of salesforce.com from $152.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, August 21st. Zacks Investment Research cut shares of salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $140.00 price target on shares of salesforce.com in a research report on Tuesday, May 29th. Five investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $159.97.

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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