State Board of Administration of Florida Retirement System Acquires 21,776 Shares of salesforce.com, inc. (CRM)

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State Board of Administration of Florida Retirement System grew its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 2.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 970,820 shares of the CRM provider’s stock after acquiring an additional 21,776 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in salesforce.com were worth $132,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd raised its position in salesforce.com by 64.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,047 shares of the CRM provider’s stock worth $121,000 after purchasing an additional 409 shares during the period. TLP Group LLC raised its position in salesforce.com by 353.9% in the 1st quarter. TLP Group LLC now owns 1,103 shares of the CRM provider’s stock worth $128,000 after purchasing an additional 860 shares during the period. Private Capital Group LLC raised its position in salesforce.com by 91.9% in the 1st quarter. Private Capital Group LLC now owns 1,134 shares of the CRM provider’s stock worth $132,000 after purchasing an additional 543 shares during the period. CWM LLC raised its position in salesforce.com by 95.8% in the 2nd quarter. CWM LLC now owns 1,318 shares of the CRM provider’s stock worth $180,000 after purchasing an additional 645 shares during the period. Finally, Signaturefd LLC purchased a new stake in salesforce.com in the 1st quarter worth about $194,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

A number of research firms recently weighed in on CRM. Canaccord Genuity reissued a “buy” rating on shares of salesforce.com in a research report on Thursday, June 28th. Stifel Nicolaus raised their target price on shares of salesforce.com from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. BMO Capital Markets raised their target price on shares of salesforce.com from $147.00 to $152.00 and gave the stock a “market perform” rating in a research report on Thursday, June 28th. JMP Securities raised their target price on shares of salesforce.com from $140.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 10th. Finally, UBS Group set a $144.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research report on Wednesday, May 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-six have given a buy rating and one has issued a strong buy rating to the stock. salesforce.com currently has an average rating of “Buy” and an average price target of $135.23.

In other salesforce.com news, CAO Joe Allanson sold 323 shares of the firm’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $125.95, for a total value of $40,681.85. Following the completion of the sale, the chief accounting officer now directly owns 30,619 shares in the company, valued at $3,856,463.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $128.31, for a total transaction of $1,924,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 18,000 shares of company stock valued at $2,497,980 and sold 601,048 shares valued at $81,897,855. 6.00% of the stock is owned by company insiders.

NYSE CRM opened at $145.51 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. salesforce.com, inc. has a 52-week low of $87.26 and a 52-week high of $149.35. The company has a market cap of $107.02 billion, a PE ratio of 160.24, a price-to-earnings-growth ratio of 5.78 and a beta of 1.11.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, May 29th. The CRM provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.28. salesforce.com had a net margin of 4.33% and a return on equity of 7.25%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. equities analysts predict that salesforce.com, inc. will post 1.01 earnings per share for the current year.

salesforce.com Profile

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 quotes, contracts, and invoices.

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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