BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stake in Salesforce.com Inc (CRM)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Salesforce.com Inc (NYSE:CRM) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 385,820 shares of the CRM provider’s stock after buying an additional 6,822 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Salesforce.com worth $36,043,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. AMP Capital Investors Ltd increased its position in Salesforce.com by 5.8% during the third quarter. AMP Capital Investors Ltd now owns 191,139 shares of the CRM provider’s stock worth $17,856,000 after acquiring an additional 10,434 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Salesforce.com by 8.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 83,560 shares of the CRM provider’s stock valued at $7,806,000 after buying an additional 6,656 shares during the period. King Luther Capital Management Corp increased its holdings in Salesforce.com by 16.3% in the 3rd quarter. King Luther Capital Management Corp now owns 3,414 shares of the CRM provider’s stock valued at $319,000 after buying an additional 479 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in Salesforce.com by 2.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 47,274 shares of the CRM provider’s stock valued at $4,435,000 after buying an additional 1,000 shares during the period. Finally, Engineers Gate Manager LP bought a new position in Salesforce.com in the 3rd quarter valued at about $1,724,000. Institutional investors own 85.75% of the company’s stock.
Several equities analysts have commented on CRM shares. Stephens reissued an “overweight” rating and issued a $107.00 target price (up from $100.00) on shares of Salesforce.com in a report on Thursday, August 31st. JMP Securities raised shares of Salesforce.com to a “positive” rating in a report on Friday, October 6th. Northland Securities reissued a “buy” rating and issued a $105.00 target price on shares of Salesforce.com in a report on Sunday, September 10th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Salesforce.com in a report on Thursday, November 9th. Finally, BMO Capital Markets lifted their price target on shares of Salesforce.com from $105.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and forty-four have assigned a buy rating to the stock. Salesforce.com has an average rating of “Buy” and a consensus price target of $112.48.
Salesforce.com Inc (CRM) opened at $100.69 on Wednesday. The stock has a market cap of $72,121.66, a P/E ratio of 312.03, a PEG ratio of 9.38 and a beta of 1.24. Salesforce.com Inc has a 1 year low of $68.23 and a 1 year high of $109.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82.
Salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, November 21st. The CRM provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Salesforce.com had a net margin of 0.09% and a return on equity of 2.81%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. equities research analysts forecast that Salesforce.com Inc will post 0.43 earnings per share for the current fiscal year.
In related news, insider Parker Harris sold 8,027 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $96.57, for a total transaction of $775,167.39. Following the transaction, the insider now owns 51,572 shares in the company, valued at approximately $4,980,308.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexandre Dayon sold 180,748 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $109.02, for a total transaction of $19,705,146.96. Following the transaction, the insider now owns 210,823 shares in the company, valued at approximately $22,983,923.46. The disclosure for this sale can be found here. Insiders have sold a total of 670,072 shares of company stock worth $68,439,414 in the last quarter. 6.20% of the stock is owned by corporate insiders.
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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.
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