Honeywell International Inc. increased its stake in Salesforce.com Inc (NYSE:CRM) by 64.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,400 shares of the CRM provider’s stock after acquiring an additional 80,000 shares during the period. Honeywell International Inc.’s holdings in Salesforce.com were worth $19,095,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Vanguard Group Inc. raised its stake in shares of Salesforce.com by 5.2% during the second quarter. Vanguard Group Inc. now owns 46,149,530 shares of the CRM provider’s stock valued at $3,996,548,000 after purchasing an additional 2,268,623 shares during the period. Jennison Associates LLC raised its stake in shares of Salesforce.com by 17.0% during the second quarter. Jennison Associates LLC now owns 18,819,812 shares of the CRM provider’s stock valued at $1,629,796,000 after purchasing an additional 2,740,329 shares during the period. Janus Henderson Group PLC raised its stake in shares of Salesforce.com by 911.7% during the second quarter. Janus Henderson Group PLC now owns 12,759,741 shares of the CRM provider’s stock valued at $1,104,945,000 after purchasing an additional 11,498,509 shares during the period. Janus Capital Management LLC increased its stake in shares of Salesforce.com by 21.6% in the first quarter. Janus Capital Management LLC now owns 10,755,181 shares of the CRM provider’s stock worth $927,363,000 after buying an additional 1,910,921 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Salesforce.com by 6.8% in the second quarter. TIAA CREF Investment Management LLC now owns 9,344,787 shares of the CRM provider’s stock worth $809,259,000 after buying an additional 592,409 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of Salesforce.com Inc (NYSE:CRM) traded up $0.54 during trading on Tuesday, reaching $105.78. The company had a trading volume of 4,609,500 shares, compared to its average volume of 4,365,178. Salesforce.com Inc has a 1-year low of $66.43 and a 1-year high of $105.96. The firm has a market cap of $75,635.98, a price-to-earnings ratio of 526.20, a PEG ratio of 10.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.77 and a current ratio of 0.77.
Salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.24. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.52 billion. Salesforce.com had a positive return on equity of 1.83% and a negative net margin of 0.85%. Salesforce.com’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 EPS. analysts anticipate that Salesforce.com Inc will post 0.4 EPS for the current fiscal year.
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CRM has been the subject of a number of research analyst reports. Stephens restated an “overweight” rating and issued a $107.00 price target (up previously from $100.00) on shares of Salesforce.com in a research note on Thursday, August 31st. Vetr downgraded shares of Salesforce.com from a “hold” rating to a “strong sell” rating and set a $80.76 price objective for the company. in a report on Wednesday, October 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $84.00 price objective on shares of Salesforce.com in a report on Sunday, October 29th. Moffett Nathanson initiated coverage on shares of Salesforce.com in a report on Wednesday, September 6th. They set a “buy” rating and a $125.00 price target for the company. Finally, BNP Paribas reissued a “buy” rating and set a $95.00 price target on shares of Salesforce.com in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $107.37.
In other news, Vice Chairman Keith Block sold 10,000 shares of Salesforce.com stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $105.43, for a total transaction of $1,054,300.00. Following the completion of the transaction, the insider now directly owns 24,154 shares in the company, valued at approximately $2,546,556.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 8,027 shares of Salesforce.com stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $92.75, for a total value of $744,504.25. Following the transaction, the insider now owns 49,913 shares of the company’s stock, valued at $4,629,430.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 543,693 shares of company stock valued at $52,973,919. Corporate insiders own 6.20% of the company’s stock.
Salesforce.com Company Profile
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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