Pegasus Asset Management Inc. increased its position in shares of salesforce.com, inc. (NYSE:CRM) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 15,317 shares of the CRM provider’s stock after acquiring an additional 835 shares during the quarter. salesforce.com makes up 2.0% of Pegasus Asset Management Inc.’s portfolio, making the stock its 24th biggest holding. Pegasus Asset Management Inc.’s holdings in salesforce.com were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in salesforce.com by 4.6% during the third quarter. Vanguard Group Inc. now owns 54,471,296 shares of the CRM provider’s stock worth $8,662,570,000 after buying an additional 2,398,648 shares during the period. Vanguard Group Inc boosted its stake in salesforce.com by 4.6% during the third quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock worth $8,662,570,000 after buying an additional 2,398,648 shares during the period. BlackRock Inc. boosted its stake in salesforce.com by 9.2% during the fourth quarter. BlackRock Inc. now owns 51,270,156 shares of the CRM provider’s stock worth $7,022,474,000 after buying an additional 4,321,630 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in salesforce.com by 29,364.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,716,594 shares of the CRM provider’s stock worth $159,000 after buying an additional 21,642,889 shares during the period. Finally, Jennison Associates LLC boosted its stake in salesforce.com by 18.3% during the fourth quarter. Jennison Associates LLC now owns 19,671,694 shares of the CRM provider’s stock worth $2,694,432,000 after buying an additional 3,041,293 shares during the period. Hedge funds and other institutional investors own 83.17%
Get salesforce.com alerts: Several brokerages have weighed in on CRM. Zacks Investment Research lowered shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday. JMP Securities reaffirmed a “buy” rating and set a $178.00 target price on shares of salesforce.com in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $185.00 price objective (up previously from $175.00) on shares of salesforce.com in a research note on Tuesday. Citigroup raised their price objective on shares of salesforce.com from $183.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on shares of salesforce.com from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $177.62.
In related news, Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $137.23, for a total value of $1,372,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website . Also, CEO Keith Block sold 2,160 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $140.59, for a total transaction of $303,674.40. Following the completion of the sale, the chief executive officer now directly owns 24,865 shares in the company, valued at approximately $3,495,770.35. The disclosure for this sale can be found here . In the last ninety days, insiders sold 549,034 shares of company stock worth $79,205,643. 6.00% of the stock is owned by corporate insiders.
Shares of NYSE:CRM opened at $155.06 on Friday. The company has a market capitalization of $118.62 billion, a P/E ratio of 106.94, a PEG ratio of 5.23 and a beta of 1.37. salesforce.com, inc. has a fifty-two week low of $111.34 and a fifty-two week high of $166.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 0.86.
salesforce.com (NYSE:CRM) last issued its earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.14. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.56 billion. salesforce.com had a net margin of 6.51% and a return on equity of 8.06%. During the same quarter last year, the company earned $0.35 earnings per share. As a group, analysts predict that salesforce.com, inc. will post 1.29 earnings per share for the current fiscal year.
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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 Quote: s, contracts, and invoices.
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