Argus Investors Counsel Inc. increased its position in shares of salesforce.com, inc. (NYSE:CRM) by 98.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,536 shares of the CRM provider’s stock after acquiring an additional 2,751 shares during the period. Argus Investors Counsel Inc.’s holdings in salesforce.com were worth $840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heritage Investors Management Corp increased its stake in salesforce.com by 10.0% in the 1st quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock worth $5,452,000 after purchasing an additional 3,143 shares in the last quarter. Putnam FL Investment Management Co. increased its stake in salesforce.com by 0.5% in the 4th quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock worth $2,930,000 after purchasing an additional 97 shares in the last quarter. Columbus Circle Investors purchased a new position in salesforce.com in the 1st quarter worth about $26,017,000. MML Investors Services LLC increased its stake in salesforce.com by 46.5% in the 1st quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock worth $6,979,000 after purchasing an additional 13,991 shares in the last quarter. Finally, Oakworth Capital Inc. increased its stake in salesforce.com by 506.5% in the 1st quarter. Oakworth Capital Inc. now owns 467 shares of the CRM provider’s stock worth $74,000 after purchasing an additional 390 shares in the last quarter. 81.58% of the stock is currently owned by hedge funds and other institutional investors.

In other news, General Counsel Amy E. Weaver sold 501 shares of salesforce.com stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $153.54, for a total transaction of $76,923.54. Following the completion of the sale, the general counsel now directly owns 26,396 shares in the company, valued at approximately $4,052,841.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Amy E. Weaver sold 6,409 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.01, for a total value of $1,063,958.09. Following the completion of the sale, the general counsel now owns 32,650 shares of the company’s stock, valued at $5,420,226.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,555 shares of company stock valued at $55,382,838. 5.50% of the stock is owned by corporate insiders.

Shares of salesforce.com stock traded down $1.45 during trading on Tuesday, hitting $156.25. 4,627,882 shares of the stock traded hands, compared to its average volume of 5,642,352. The company has a market capitalization of $121.64 billion, a PE ratio of 107.76, a P/E/G ratio of 5.76 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $167.56. The business’s fifty day moving average is $154.70.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.68 billion. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm’s revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. As a group, analysts forecast that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the company. OTR Global cut salesforce.com to a “positive” rating in a research note on Wednesday, May 15th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. BNP Paribas began coverage on Workday in a research note on Friday, March 29th. They issued an “underperform” rating and a $125.00 price target on the stock. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a research note on Tuesday, June 11th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of salesforce.com in a research note on Thursday, June 6th. Three analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $179.97.

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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