Cullen Frost Bankers Inc. increased its position in shares of Salesforce.com Inc. (NYSE:CRM) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,019 shares of the CRM provider’s stock after buying an additional 2,648 shares during the period. Cullen Frost Bankers Inc.’s holdings in Salesforce.com were worth $16,360,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its position in Salesforce.com by 123.8% in the second quarter. Trust Co. of Vermont now owns 1,936 shares of the CRM provider’s stock worth $154,000 after buying an additional 1,071 shares during the period. Private Bank & Trust Co. bought a new position in Salesforce.com during the second quarter worth about $201,000. Osborn Rohs Williams & Donohoe Ltd bought a new position in Salesforce.com during the second quarter worth about $206,000. Wealthsource Partners LLC bought a new position in Salesforce.com during the first quarter worth about $209,000. Finally, Integrated Investment Consultants LLC increased its position in Salesforce.com by 1.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,835 shares of the CRM provider’s stock worth $225,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 87.23% of the company’s stock.
Shares of Salesforce.com Inc. (NYSE:CRM) traded up 0.55% during midday trading on Thursday, hitting $74.59. 5,155,738 shares of the company traded hands. The company has a 50-day moving average price of $77.35 and a 200-day moving average price of $77.79. The stock has a market capitalization of $51.09 billion, a P/E ratio of 230.22 and a beta of 1.57. Salesforce.com Inc. has a 52 week low of $52.60 and a 52 week high of $84.48.
Salesforce.com (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 31st. The CRM provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The company earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Salesforce.com had a net margin of 2.91% and a return on equity of 2.19%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. Analysts anticipate that Salesforce.com Inc. will post $0.95 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Bank of America Corp. restated a “buy” rating and issued a $77.82 target price (down previously from $100.00) on shares of Salesforce.com in a research note on Thursday, August 25th. Jefferies Group restated a “hold” rating and issued a $80.00 target price on shares of Salesforce.com in a research note on Tuesday, July 12th. Citigroup Inc. cut their target price on Salesforce.com from $97.00 to $94.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Piper Jaffray Cos. restated a “buy” rating and issued a $100.00 target price on shares of Salesforce.com in a research note on Thursday, September 1st. Finally, Morgan Stanley cut their target price on Salesforce.com from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, September 1st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and forty-one have assigned a buy rating to the company. Salesforce.com has an average rating of “Buy” and an average price target of $92.63.
In other news, CEO Marc Benioff sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $79.15, for a total value of $3,957,500.00. Following the completion of the sale, the chief executive officer now owns 35,383,000 shares of the company’s stock, valued at approximately $2,800,564,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy E. Weaver sold 5,650 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $79.82, for a total transaction of $450,983.00. Following the completion of the sale, the executive vice president now directly owns 16,179 shares of the company’s stock, valued at approximately $1,291,407.78. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
salesforce.com, inc. is a provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The Company’s Customer Success Platform, including sales force automation, customer service and support, marketing automation, community management, analytics, application development, Internet of Things (IoT) integration and its professional cloud services, provide the next-generation platform of enterprise applications and services.
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