Sumitomo Life Insurance Co. lifted its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,935 shares of the CRM provider’s stock after buying an additional 1,514 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in salesforce.com were worth $4,381,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CRM. Ballentine Partners LLC increased its holdings in salesforce.com by 0.7% during the 4th quarter. Ballentine Partners LLC now owns 9,098 shares of the CRM provider’s stock worth $1,480,000 after acquiring an additional 64 shares during the period. Bray Capital Advisors increased its holdings in salesforce.com by 0.3% during the 3rd quarter. Bray Capital Advisors now owns 23,420 shares of the CRM provider’s stock worth $3,476,000 after acquiring an additional 65 shares during the period. Chicago Partners Investment Group LLC increased its holdings in salesforce.com by 4.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,472 shares of the CRM provider’s stock worth $218,000 after acquiring an additional 65 shares during the period. Citizens Financial Group Inc RI increased its holdings in salesforce.com by 21.9% during the 3rd quarter. Citizens Financial Group Inc RI now owns 379 shares of the CRM provider’s stock worth $56,000 after acquiring an additional 68 shares during the period. Finally, Wealthsource Partners LLC increased its holdings in salesforce.com by 0.9% during the 3rd quarter. Wealthsource Partners LLC now owns 7,869 shares of the CRM provider’s stock worth $1,168,000 after acquiring an additional 70 shares during the period. Institutional investors own 80.43% of the company’s stock.

A number of brokerages have recently commented on CRM. Robert W. Baird reissued a “buy” rating and issued a $185.00 price target on shares of salesforce.com in a report on Thursday, November 21st. Jefferies Financial Group reissued a “buy” rating and issued a $195.00 price target (up previously from $171.00) on shares of salesforce.com in a report on Sunday, November 17th. Credit Suisse Group increased their price target on shares of salesforce.com from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Piper Jaffray Companies began coverage on shares of salesforce.com in a report on Wednesday, November 13th. They issued an “overweight” rating and a $190.00 price target on the stock. Finally, Canaccord Genuity reissued a “buy” rating and issued a $185.00 price target on shares of salesforce.com in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. salesforce.com presently has an average rating of “Buy” and an average price target of $194.66.

Shares of salesforce.com stock traded down $2.42 during trading on Friday, reaching $181.56. The company’s stock had a trading volume of 2,461,113 shares, compared to its average volume of 4,468,526. The company has a market cap of $162.10 billion, a price-to-earnings ratio of 193.15, a PEG ratio of 7.63 and a beta of 1.22. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average is $168.95 and its two-hundred day moving average is $157.21. salesforce.com, inc. has a 52-week low of $137.87 and a 52-week high of $186.44.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. salesforce.com had a net margin of 4.64% and a return on equity of 5.37%. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 EPS. On average, equities research analysts anticipate that salesforce.com, inc. will post 1.28 EPS for the current year.

In other salesforce.com news, CAO Joe Allanson sold 323 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $162.57, for a total transaction of $52,510.11. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $5,055,927. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexandre Dayon sold 20,729 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $161.99, for a total transaction of $3,357,890.71. Following the sale, the insider now directly owns 72,680 shares of the company’s stock, valued at approximately $11,773,433.20. The disclosure for this sale can be found here. Insiders have sold a total of 412,764 shares of company stock valued at $67,994,833 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

salesforce.com Profile

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.

Recommended Story: Liquidity

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).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.