Watch Point Trust Co Raises Holdings in salesforce.com, inc. (NYSE:CRM)

Watch Point Trust Co boosted its position in shares of salesforce.com, inc. (NYSE:CRM) by 19.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 32,549 shares of the CRM provider’s stock after buying an additional 5,300 shares during the quarter. salesforce.com makes up approximately 2.8% of Watch Point Trust Co’s investment portfolio, making the stock its 6th biggest holding. Watch Point Trust Co’s holdings in salesforce.com were worth $4,939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Chemung Canal Trust Co. grew its stake in shares of salesforce.com by 1.2% in the 2nd quarter. Chemung Canal Trust Co. now owns 44,078 shares of the CRM provider’s stock valued at $6,688,000 after purchasing an additional 505 shares during the period. Hills Bank & Trust Co. grew its stake in shares of salesforce.com by 5.3% in the 2nd quarter. Hills Bank & Trust Co. now owns 9,480 shares of the CRM provider’s stock valued at $1,438,000 after purchasing an additional 473 shares during the period. Chicago Capital LLC grew its stake in shares of salesforce.com by 3.1% in the 2nd quarter. Chicago Capital LLC now owns 209,748 shares of the CRM provider’s stock valued at $31,825,000 after purchasing an additional 6,237 shares during the period. Columbus Circle Investors bought a new stake in shares of salesforce.com in the 1st quarter valued at approximately $26,017,000. Finally, MML Investors Services LLC grew its stake in shares of salesforce.com by 46.5% in the 1st quarter. MML Investors Services LLC now owns 44,065 shares of the CRM provider’s stock valued at $6,979,000 after purchasing an additional 13,991 shares during the period. Hedge funds and other institutional investors own 82.05% of the company’s stock.

In other salesforce.com news, CEO Marc Benioff sold 5,000 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark J. Hawkins sold 15,271 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $157.31, for a total value of $2,402,281.01. Following the transaction, the insider now directly owns 24,375 shares in the company, valued at approximately $3,834,431.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 309,671 shares of company stock worth $47,578,569. Company insiders own 5.50% of the company’s stock.

NYSE:CRM traded up $3.11 during trading hours on Thursday, hitting $142.83. 216,315 shares of the stock were exchanged, compared to its average volume of 7,468,685. The company’s 50 day moving average is $152.66. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $167.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $109.20 billion, a P/E ratio of 98.50, a P/E/G ratio of 5.17 and a beta of 1.27.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.32. salesforce.com had a return on equity of 8.18% and a net margin of 8.26%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, research analysts anticipate that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

CRM has been the topic of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $181.00 price objective on shares of salesforce.com in a research note on Monday, June 17th. Jefferies Financial Group reiterated a “buy” rating and issued a $165.00 price objective on shares of salesforce.com in a research note on Friday, August 9th. They noted that the move was a valuation call. Nomura reiterated a “buy” rating and issued a $180.00 price objective on shares of salesforce.com in a research note on Tuesday. OTR Global upgraded salesforce.com to a “positive” rating in a research note on Thursday. Finally, ValuEngine lowered salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $180.00.

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.

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

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