Salesforce.com Inc (CRM) Shares Bought by Employees Retirement System of Texas
Employees Retirement System of Texas increased its stake in Salesforce.com Inc (NYSE:CRM) by 8.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 254,300 shares of the CRM provider’s stock after buying an additional 19,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Salesforce.com were worth $22,022,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its stake in Salesforce.com by 13.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 234,942 shares of the CRM provider’s stock valued at $19,380,000 after acquiring an additional 27,196 shares during the period. Mason Street Advisors LLC raised its stake in Salesforce.com by 3.6% in the 1st quarter. Mason Street Advisors LLC now owns 90,502 shares of the CRM provider’s stock valued at $7,466,000 after acquiring an additional 3,179 shares during the period. San Francisco Sentry Investment Group CA bought a new stake in Salesforce.com in the 1st quarter valued at about $306,000. Pacer Advisors Inc. raised its stake in Salesforce.com by 7.2% in the 1st quarter. Pacer Advisors Inc. now owns 12,949 shares of the CRM provider’s stock valued at $1,068,000 after acquiring an additional 869 shares during the period. Finally, Nordea Investment Management AB raised its stake in Salesforce.com by 7.7% in the 1st quarter. Nordea Investment Management AB now owns 66,708 shares of the CRM provider’s stock valued at $5,503,000 after acquiring an additional 4,787 shares during the period. 86.06% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on CRM shares. Stephens restated an “overweight” rating and issued a $107.00 price objective (up from $100.00) on shares of Salesforce.com in a research note on Thursday, August 31st. Zacks Investment Research cut Salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Vetr upgraded Salesforce.com from a “buy” rating to a “strong-buy” rating and set a $100.19 price target on the stock in a research report on Monday, June 12th. Moffett Nathanson assumed coverage on Salesforce.com in a research report on Wednesday, September 6th. They set a “buy” rating and a $125.00 price target on the stock. Finally, BNP Paribas reiterated a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $102.52.
Salesforce.com Inc (NYSE CRM) traded up 0.89% on Friday, hitting $93.42. The stock had a trading volume of 4,629,741 shares. The firm’s 50-day moving average is $93.14 and its 200-day moving average is $88.31. The company’s market cap is $67.14 billion. Salesforce.com Inc has a 52-week low of $66.43 and a 52-week high of $98.22.
Salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. Salesforce.com’s revenue was up 25.7% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. Equities research analysts anticipate that Salesforce.com Inc will post $1.32 earnings per share for the current fiscal year.
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In other news, insider Parker Harris sold 8,027 shares of Salesforce.com stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $96.57, for a total transaction of $775,167.39. Following the sale, the insider now owns 51,572 shares in the company, valued at $4,980,308.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Keith Block sold 7,641 shares of Salesforce.com stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $92.80, for a total value of $709,084.80. Following the sale, the insider now owns 21,795 shares in the company, valued at approximately $2,022,576. The disclosure for this sale can be found here. Over the last quarter, insiders sold 577,032 shares of company stock valued at $52,745,027. 6.20% of the stock is currently owned by company insiders.
Salesforce.com 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.
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