Salesforce.com Inc (CRM) Holdings Increased by Synovus Financial Corp
Synovus Financial Corp grew its holdings in Salesforce.com Inc (NYSE:CRM) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,247 shares of the CRM provider’s stock after purchasing an additional 2,144 shares during the period. Synovus Financial Corp’s holdings in Salesforce.com were worth $1,927,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Capital Analysts LLC increased its stake in Salesforce.com by 14.1% in the second quarter. Capital Analysts LLC now owns 1,266 shares of the CRM provider’s stock worth $110,000 after purchasing an additional 156 shares during the period. Peddock Capital Advisors LLC increased its stake in Salesforce.com by 3,000.0% in the second quarter. Peddock Capital Advisors LLC now owns 1,395 shares of the CRM provider’s stock worth $121,000 after purchasing an additional 1,350 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in Salesforce.com in the second quarter worth $130,000. First Personal Financial Services increased its stake in Salesforce.com by 7.5% in the first quarter. First Personal Financial Services now owns 1,611 shares of the CRM provider’s stock worth $133,000 after purchasing an additional 112 shares during the period. Finally, Harfst & Associates Inc. purchased a new stake in Salesforce.com in the first quarter worth $141,000. Institutional investors and hedge funds own 86.98% of the company’s stock.
A number of analysts have weighed in on CRM shares. Zacks Investment Research upgraded Salesforce.com from a “sell” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Tuesday, May 9th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $100.00 target price on shares of Salesforce.com in a research note on Sunday, May 14th. BMO Capital Markets reduced their target price on Salesforce.com from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Monday, May 15th. Wedbush reiterated an “outperform” rating and issued a $102.00 target price (down previously from $105.00) on shares of Salesforce.com in a research note on Monday, May 15th. Finally, Benchmark Co. increased their target price on Salesforce.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and forty-six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $101.82.
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In other news, CFO Mark J. Hawkins sold 111,646 shares of Salesforce.com stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $95.08, for a total value of $10,615,301.68. Following the completion of the sale, the chief financial officer now owns 118,302 shares of the company’s stock, valued at $11,248,154.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 10,000 shares of Salesforce.com stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $91.24, for a total value of $912,400.00. Following the completion of the sale, the chief executive officer now directly owns 34,195,300 shares of the company’s stock, valued at approximately $3,119,979,172. The disclosure for this sale can be found here. Insiders have sold 751,306 shares of company stock valued at $67,481,545 in the last three months. 6.70% of the stock is currently owned by company insiders.
Salesforce.com Inc (CRM) traded up 0.54% during trading on Monday, reaching $96.01. The company’s stock had a trading volume of 3,679,583 shares. The company’s market capitalization is $69.00 billion. Salesforce.com Inc has a 52 week low of $66.43 and a 52 week high of $96.17. The company has a 50 day moving average price of $91.25 and a 200-day moving average price of $87.10.
Salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, August 22nd. The CRM provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.24. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate 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 was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. Equities research analysts anticipate that Salesforce.com Inc will post $1.31 earnings per share for the current year.
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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