salesforce.com, inc. (CRM) Holdings Lifted by Watch Point Trust Co
Watch Point Trust Co grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 0.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 23,511 shares of the CRM provider’s stock after acquiring an additional 166 shares during the period. salesforce.com comprises about 2.5% of Watch Point Trust Co’s holdings, making the stock its 8th largest holding. Watch Point Trust Co’s holdings in salesforce.com were worth $3,221,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Mycio Wealth Partners LLC lifted its position in salesforce.com by 2.5% in the 4th quarter. Mycio Wealth Partners LLC now owns 2,833 shares of the CRM provider’s stock valued at $388,000 after acquiring an additional 70 shares in the last quarter. Hollencrest Capital Management lifted its position in salesforce.com by 1.0% in the 4th quarter. Hollencrest Capital Management now owns 8,681 shares of the CRM provider’s stock valued at $1,189,000 after acquiring an additional 85 shares in the last quarter. Watermark Asset Management Inc. lifted its position in salesforce.com by 20.2% in the 4th quarter. Watermark Asset Management Inc. now owns 619 shares of the CRM provider’s stock valued at $85,000 after acquiring an additional 104 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in salesforce.com by 4.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,354 shares of the CRM provider’s stock valued at $374,000 after acquiring an additional 111 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in salesforce.com by 4.1% in the 3rd quarter. Cornerstone Advisors Inc. now owns 3,013 shares of the CRM provider’s stock valued at $479,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.
Several equities analysts recently issued reports on CRM shares. TheStreet cut salesforce.com from a “b-” rating to a “c+” rating in a research report on Friday, October 26th. ValuEngine raised salesforce.com from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Royal Bank of Canada reissued a “buy” rating and set a $182.00 price target on shares of salesforce.com in a report on Wednesday, November 28th. Zacks Investment Research reissued a “hold” rating on shares of salesforce.com in a report on Monday, November 12th. Finally, Robert W. Baird increased their price target on salesforce.com from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Three investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com currently has a consensus rating of “Buy” and an average price target of $170.38.
Shares of salesforce.com stock traded up $0.80 during trading on Wednesday, reaching $149.75. 3,314,311 shares of the stock traded hands, compared to its average volume of 5,274,353. The firm has a market cap of $116.67 billion, a price-to-earnings ratio of 332.78, a PEG ratio of 4.79 and a beta of 1.28. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. salesforce.com, inc. has a 52-week low of $102.37 and a 52-week high of $161.19.
salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, November 27th. The CRM provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.11. salesforce.com had a net margin of 6.51% and a return on equity of 8.06%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter last year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities analysts expect that salesforce.com, inc. will post 1.32 EPS for the current fiscal year.
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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