Covington Investment Advisors Inc. boosted its position in Salesforce.com Inc (NYSE:CRM) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,210 shares of the CRM provider’s stock after buying an additional 1,015 shares during the period. Salesforce.com accounts for 1.5% of Covington Investment Advisors Inc.’s holdings, making the stock its 26th largest position. Covington Investment Advisors Inc.’s holdings in Salesforce.com were worth $3,829,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Emerald Advisers Inc. PA purchased a new stake in shares of Salesforce.com during the first quarter worth about $211,000. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Salesforce.com 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 period. Oregon Public Employees Retirement Fund boosted its stake in shares of Salesforce.com 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 period. Linscomb & Williams Inc. boosted its stake in shares of Salesforce.com 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 period. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in shares of Salesforce.com during the first quarter worth about $16,514,000. Institutional investors and hedge funds own 86.98% of the company’s stock.

Shares of Salesforce.com Inc (NYSE CRM) traded up 0.45% during midday trading on Thursday, hitting $95.29. 565,567 shares of the stock were exchanged. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $95.30. The firm’s market capitalization is $68.48 billion. The stock’s 50-day moving average price is $90.44 and its 200-day moving average price is $86.60.

Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.24. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. The business’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. On average, analysts forecast that Salesforce.com Inc will post $1.31 EPS for the current year.

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A number of equities research analysts recently issued reports on CRM shares. Zacks Investment Research upgraded shares of Salesforce.com from a “sell” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Tuesday, May 9th. Piper Jaffray Companies reiterated an “overweight” rating and set a $100.00 target price on shares of Salesforce.com in a research report on Sunday, May 14th. BMO Capital Markets dropped their target price on shares of Salesforce.com from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, May 15th. Wedbush reiterated an “outperform” rating and set a $102.00 target price (down previously from $105.00) on shares of Salesforce.com in a research report on Monday, May 15th. Finally, Benchmark Co. increased their target price on shares of Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.72.

In other Salesforce.com news, CFO Mark J. Hawkins sold 490 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $93.52, for a total value of $45,824.80. Following the completion of the sale, the chief financial officer now owns 14,886 shares in the company, valued at $1,392,138.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Amy E. Weaver sold 1,400 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $87.04, for a total value of $121,856.00. Following the completion of the sale, the insider now owns 16,513 shares of the company’s stock, valued at approximately $1,437,291.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,222,616 shares of company stock valued at $110,027,974. Company insiders own 6.70% of the company’s stock.

About Salesforce.com

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.

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

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