CIBC Private Wealth Group LLC Raises Stock Position in salesforce.com, inc. (NYSE:CRM)

CIBC Private Wealth Group LLC grew its holdings in salesforce.com, inc. (NYSE:CRM) by 26.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,275,108 shares of the CRM provider’s stock after buying an additional 265,971 shares during the period. CIBC Private Wealth Group LLC’s holdings in salesforce.com were worth $270,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Quilter Plc grew its stake in shares of salesforce.com by 7.6% in the 1st quarter. Quilter Plc now owns 58,102 shares of the CRM provider’s stock worth $12,310,000 after buying an additional 4,127 shares in the last quarter. Ropes Wealth Advisors LLC grew its stake in shares of salesforce.com by 2.2% in the 1st quarter. Ropes Wealth Advisors LLC now owns 3,088 shares of the CRM provider’s stock worth $666,000 after buying an additional 67 shares in the last quarter. Summitry LLC purchased a new position in shares of salesforce.com during the 1st quarter worth about $24,633,000. Insight Wealth Strategies LLC boosted its stake in shares of salesforce.com by 20.9% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,600 shares of the CRM provider’s stock worth $2,458,000 after purchasing an additional 2,008 shares during the period. Finally, Oak Ridge Investments LLC boosted its stake in shares of salesforce.com by 0.5% during the 1st quarter. Oak Ridge Investments LLC now owns 41,811 shares of the CRM provider’s stock worth $8,859,000 after purchasing an additional 218 shares during the period. 76.13% of the stock is owned by institutional investors and hedge funds.

Shares of CRM stock traded down $0.73 during trading hours on Friday, hitting $239.46. The company’s stock had a trading volume of 58,668 shares, compared to its average volume of 6,701,414. The stock has a 50 day simple moving average of $226.99. The stock has a market cap of $221.74 billion, a PE ratio of 50.25, a PEG ratio of 8.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.33 and a current ratio of 1.33. salesforce.com, inc. has a 12-month low of $171.27 and a 12-month high of $284.50.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 26th. The CRM provider reported $1.21 EPS for the quarter, beating the consensus estimate of $0.88 by $0.33. salesforce.com had a net margin of 19.88% and a return on equity of 8.02%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same period in the prior year, the firm earned $0.70 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. Research analysts expect that salesforce.com, inc. will post 1.6 EPS for the current year.

A number of equities analysts recently commented on the stock. Nord/LB cut shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, March 24th. Morgan Stanley lifted their price objective on shares of salesforce.com from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, May 25th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $250.00 price objective on shares of salesforce.com and gave the company a “buy” rating in a report on Friday, May 28th. Macquarie lifted their price objective on shares of salesforce.com from $252.00 to $273.00 and gave the company an “outperform” rating in a report on Friday, February 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $290.00 price objective on shares of salesforce.com in a report on Thursday, June 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. salesforce.com currently has a consensus rating of “Buy” and a consensus target price of $275.33.

In related news, CFO Amy E. Weaver sold 7,535 shares of the business’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $238.00, for a total value of $1,793,330.00. Also, CFO Amy E. Weaver sold 820 shares of the company’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $215.95, for a total transaction of $177,079.00. Following the transaction, the chief financial officer now owns 22,148 shares of the company’s stock, valued at $4,782,860.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,970 shares of company stock valued at $42,875,961. Company insiders own 4.10% of the company’s stock.

salesforce.com Company Profile

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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