Norway Savings Bank raised its stake in salesforce.com, inc. (NYSE:CRM) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,682 shares of the CRM provider’s stock after buying an additional 382 shares during the quarter. Norway Savings Bank’s holdings in salesforce.com were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in salesforce.com by 11.0% in the second quarter. Sequoia Financial Advisors LLC now owns 40,776 shares of the CRM provider’s stock valued at $9,960,000 after buying an additional 4,053 shares during the period. Bfsg LLC lifted its stake in salesforce.com by 8.1% in the second quarter. Bfsg LLC now owns 14,740 shares of the CRM provider’s stock valued at $3,601,000 after buying an additional 1,110 shares during the period. Federated Hermes Inc. lifted its stake in salesforce.com by 4.8% in the second quarter. Federated Hermes Inc. now owns 900,794 shares of the CRM provider’s stock valued at $220,036,000 after buying an additional 41,301 shares during the period. Jaffetilchin Investment Partners LLC lifted its stake in salesforce.com by 118.3% in the second quarter. Jaffetilchin Investment Partners LLC now owns 8,667 shares of the CRM provider’s stock valued at $2,016,000 after buying an additional 4,697 shares during the period. Finally, NorthCoast Asset Management LLC lifted its stake in salesforce.com by 2.3% in the second quarter. NorthCoast Asset Management LLC now owns 104,103 shares of the CRM provider’s stock valued at $25,429,000 after buying an additional 2,373 shares during the period. 73.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on CRM shares. Robert W. Baird reaffirmed a “buy” rating and set a $315.00 price target on shares of salesforce.com in a research report on Sunday, September 26th. Raymond James raised their price target on salesforce.com from $280.00 to $340.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 26th. UBS Group raised their price target on salesforce.com from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, September 24th. Wedbush lifted their target price on salesforce.com from $300.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 26th. Finally, Wolfe Research lifted their target price on salesforce.com from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $320.59.
Shares of NYSE CRM opened at $289.17 on Thursday. The stock has a market capitalization of $283.10 billion, a PE ratio of 116.13, a P/E/G ratio of 8.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day moving average price of $288.13 and a two-hundred day moving average price of $259.25. salesforce.com, inc. has a fifty-two week low of $201.51 and a fifty-two week high of $311.75.
salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.56. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.25 billion. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. On average, equities analysts expect that salesforce.com, inc. will post 2.15 EPS for the current year.
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.
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