Institute for Wealth Management LLC. Boosts Stake in salesforce.com, inc. (NYSE:CRM)

Institute for Wealth Management LLC. boosted its stake in salesforce.com, inc. (NYSE:CRM) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,285 shares of the CRM provider’s stock after buying an additional 64 shares during the quarter. Institute for Wealth Management LLC.’s holdings in salesforce.com were worth $1,552,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Guggenheim Capital LLC raised its position in shares of salesforce.com by 6.2% in the 4th quarter. Guggenheim Capital LLC now owns 210,224 shares of the CRM provider’s stock worth $34,191,000 after buying an additional 12,350 shares during the period. Macquarie Group Ltd. increased its holdings in salesforce.com by 54.4% in the 4th quarter. Macquarie Group Ltd. now owns 240,223 shares of the CRM provider’s stock valued at $39,070,000 after purchasing an additional 84,602 shares in the last quarter. Park National Corp OH increased its holdings in salesforce.com by 13.1% in the 1st quarter. Park National Corp OH now owns 1,739 shares of the CRM provider’s stock valued at $250,000 after purchasing an additional 202 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in salesforce.com by 5.2% in the 1st quarter. State of Alaska Department of Revenue now owns 164,830 shares of the CRM provider’s stock valued at $23,731,000 after purchasing an additional 8,100 shares in the last quarter. Finally, Gradient Investments LLC increased its holdings in salesforce.com by 24.6% in the 1st quarter. Gradient Investments LLC now owns 21,436 shares of the CRM provider’s stock valued at $3,086,000 after purchasing an additional 4,233 shares in the last quarter. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Mark J. Hawkins sold 36,581 shares of salesforce.com stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $185.88, for a total transaction of $6,799,676.28. Following the sale, the chief financial officer now owns 14,144 shares of the company’s stock, valued at $2,629,086.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Srinivas Tallapragada sold 5,000 shares of salesforce.com stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.50, for a total value of $832,500.00. Following the sale, the insider now directly owns 42,176 shares in the company, valued at approximately $7,022,304. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 672,077 shares of company stock worth $123,680,637. Corporate insiders own 4.40% of the company’s stock.

NYSE CRM traded up $3.15 during trading hours on Friday, reaching $194.85. The company’s stock had a trading volume of 3,734,611 shares, compared to its average volume of 4,551,268. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $188.62 and a 200 day simple moving average of $173.36. salesforce.com, inc. has a 52 week low of $115.29 and a 52 week high of $202.82. The stock has a market cap of $172.72 billion, a PE ratio of -1,082.50, a PEG ratio of 9.46 and a beta of 1.08.

salesforce.com (NYSE:CRM) last issued its earnings results on Thursday, May 28th. The CRM provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the company posted $0.93 earnings per share. salesforce.com’s revenue was up 30.2% on a year-over-year basis. As a group, equities analysts predict that salesforce.com, inc. will post 1.13 EPS for the current year.

CRM has been the subject of several recent research reports. BMO Capital Markets lowered their price target on salesforce.com from $215.00 to $213.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Wells Fargo & Co increased their price target on salesforce.com from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Needham & Company LLC reiterated a “hold” rating on shares of salesforce.com in a report on Friday, May 29th. Cowen lowered their target price on salesforce.com from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, May 18th. Finally, Zacks Investment Research upgraded salesforce.com from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Tuesday, June 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-nine have issued a buy rating and two have issued a strong buy rating to the company. salesforce.com presently has a consensus rating of “Buy” and a consensus price target of $200.21.

salesforce.com Company 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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