salesforce.com (CRM) Reaches New 1-Year High at $161.50

salesforce.com, inc. (NYSE:CRM) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $161.50 and last traded at $160.10, with a volume of 212667 shares trading hands. The stock had previously closed at $156.67.

CRM has been the subject of several research analyst reports. Wedbush reissued an “outperform” rating and set a $166.00 price objective on shares of salesforce.com in a research note on Monday, January 7th. BMO Capital Markets lifted their price objective on salesforce.com from $165.00 to $174.00 and gave the company a “market perform” rating in a research note on Monday, October 15th. Pivotal Research raised salesforce.com from a “hold” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $164.00 in a research note on Monday, January 7th. Stephens initiated coverage on salesforce.com in a research note on Wednesday, January 16th. They set an “overweight” rating and a $183.00 price objective for the company. Finally, Piper Jaffray Companies dropped their price objective on salesforce.com from $190.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, November 21st. Three investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $170.38.

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock has a market cap of $119.85 billion, a price-to-earnings ratio of 355.36, a PEG ratio of 5.08 and a beta of 1.37.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, November 27th. The CRM provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.11. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter last year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. Analysts forecast that salesforce.com, inc. will post 1.32 earnings per share for the current fiscal year.

In other news, insider Parker Harris sold 5,710 shares of salesforce.com stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $131.92, for a total value of $753,263.20. Following the transaction, the insider now owns 27,937 shares in the company, valued at $3,685,449.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $132.13, for a total value of $1,321,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 531,829 shares of company stock worth $73,328,115. Company insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRM. Patriot Financial Group Insurance Agency LLC purchased a new position in salesforce.com during the 4th quarter valued at about $28,000. Intercontinental Wealth Advisors LLC purchased a new position in salesforce.com during the 4th quarter valued at about $36,000. Certified Advisory Corp increased its holdings in salesforce.com by 52.4% during the 4th quarter. Certified Advisory Corp now owns 291 shares of the CRM provider’s stock valued at $40,000 after purchasing an additional 100 shares during the period. Doyle Wealth Management purchased a new position in salesforce.com during the 4th quarter valued at about $41,000. Finally, Ruggie Capital Group purchased a new position in salesforce.com during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 85.17% of the company’s stock.

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salesforce.com Company Profile (NYSE:CRM)

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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