Utah Retirement Systems Decreases Stake in salesforce.com, inc. (NYSE:CRM)

Utah Retirement Systems lowered its position in shares of salesforce.com, inc. (NYSE:CRM) by 4.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 168,521 shares of the CRM provider’s stock after selling 7,400 shares during the quarter. Utah Retirement Systems’ holdings in salesforce.com were worth $35,704,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of CRM. Summitry LLC purchased a new position in salesforce.com in the 1st quarter worth approximately $24,633,000. TIG Advisors LLC boosted its holdings in salesforce.com by 221.4% in the 1st quarter. TIG Advisors LLC now owns 26,812 shares of the CRM provider’s stock worth $5,681,000 after acquiring an additional 18,470 shares during the period. Deccan Value Investors L.P. boosted its holdings in salesforce.com by 21.5% in the 4th quarter. Deccan Value Investors L.P. now owns 1,205,400 shares of the CRM provider’s stock worth $268,238,000 after acquiring an additional 212,900 shares during the period. Personal CFO Solutions LLC boosted its holdings in salesforce.com by 21.4% in the 1st quarter. Personal CFO Solutions LLC now owns 7,758 shares of the CRM provider’s stock worth $1,644,000 after acquiring an additional 1,366 shares during the period. Finally, Navalign LLC purchased a new position in salesforce.com in the 1st quarter worth approximately $1,579,000. Institutional investors and hedge funds own 75.65% of the company’s stock.

In related news, CAO Joe Allanson sold 611 shares of the firm’s stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $234.42, for a total transaction of $143,230.62. Following the completion of the transaction, the chief accounting officer now owns 32,324 shares of the company’s stock, valued at $7,577,392.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $213.79, for a total value of $919,297.00. Following the transaction, the insider now directly owns 85,431 shares of the company’s stock, valued at approximately $18,264,293.49. The disclosure for this sale can be found here. Insiders have sold 371,858 shares of company stock valued at $89,627,182 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Several equities analysts have recently commented on CRM shares. JPMorgan Chase & Co. set a $250.00 target price on salesforce.com and gave the company a “buy” rating in a research note on Friday, May 28th. TheStreet upgraded salesforce.com from a “c+” rating to a “b-” rating in a research note on Monday, April 26th. Redburn Partners started coverage on salesforce.com in a research note on Monday, June 28th. They set a “buy” rating and a $320.00 target price for the company. They noted that the move was a valuation call. Nord/LB cut salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, March 24th. Finally, Monness Crespi & Hardt increased their target price on salesforce.com from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, May 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $277.31.

Shares of NYSE:CRM traded up $2.96 on Thursday, hitting $245.07. The company’s stock had a trading volume of 162,673 shares, compared to its average volume of 5,821,215. salesforce.com, inc. has a 12 month low of $184.38 and a 12 month high of $284.50. The firm has a market capitalization of $226.93 billion, a P/E ratio of 50.65, a price-to-earnings-growth ratio of 8.14 and a beta of 1.09. The company’s 50-day moving average price is $237.35. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.06.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 26th. The CRM provider reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.33. salesforce.com had a return on equity of 8.02% and a net margin of 19.88%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities research analysts expect that salesforce.com, inc. will post 1.6 earnings per share for the current year.

salesforce.com Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

Featured Story: dividend yield calculator

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for salesforce.com, inc. (NYSE:CRM).

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

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.