Boston Advisors LLC Buys 1,594 Shares of salesforce.com, inc. (NYSE:CRM)

Boston Advisors LLC boosted its stake in salesforce.com, inc. (NYSE:CRM) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 59,805 shares of the CRM provider’s stock after purchasing an additional 1,594 shares during the period. Boston Advisors LLC’s holdings in salesforce.com were worth $8,877,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Buckingham Capital Management Inc. increased its stake in shares of salesforce.com by 6.2% in the first quarter. Buckingham Capital Management Inc. now owns 34,547 shares of the CRM provider’s stock worth $5,471,000 after purchasing an additional 2,028 shares in the last quarter. Neville Rodie & Shaw Inc. increased its stake in shares of salesforce.com by 1.3% in the second quarter. Neville Rodie & Shaw Inc. now owns 43,265 shares of the CRM provider’s stock worth $6,565,000 after purchasing an additional 548 shares in the last quarter. Thomasville National Bank increased its stake in shares of salesforce.com by 1.4% in the second quarter. Thomasville National Bank now owns 63,322 shares of the CRM provider’s stock worth $9,608,000 after purchasing an additional 884 shares in the last quarter. Private Trust Co. NA increased its stake in shares of salesforce.com by 5.3% in the second quarter. Private Trust Co. NA now owns 7,081 shares of the CRM provider’s stock worth $1,074,000 after purchasing an additional 354 shares in the last quarter. Finally, Private Asset Management Inc. increased its stake in shares of salesforce.com by 5.3% in the second quarter. Private Asset Management Inc. now owns 18,592 shares of the CRM provider’s stock worth $2,821,000 after purchasing an additional 930 shares in the last quarter. 73.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:CRM opened at $161.11 on Monday. The company has a 50 day moving average of $150.88 and a 200 day moving average of $153.17. The stock has a market cap of $138.70 billion, a P/E ratio of 111.11, a P/E/G ratio of 6.77 and a beta of 1.22. salesforce.com, inc. has a 12 month low of $113.60 and a 12 month high of $167.56. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Thursday, August 22nd. The CRM provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.57. salesforce.com had a net margin of 6.45% and a return on equity of 7.26%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts forecast that salesforce.com, inc. will post 1.25 earnings per share for the current fiscal year.

In other salesforce.com news, CEO Marc Benioff sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $158.86, for a total value of $794,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $157.50, for a total transaction of $97,650.00. Following the completion of the transaction, the insider now directly owns 32,019 shares of the company’s stock, valued at approximately $5,042,992.50. The disclosure for this sale can be found here. In the last three months, insiders sold 251,026 shares of company stock valued at $37,873,384. Corporate insiders own 5.50% of the company’s stock.

Several research firms have recently weighed in on CRM. Monness Crespi & Hardt lifted their target price on shares of salesforce.com from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada lifted their target price on shares of salesforce.com from $181.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating and issued a $171.00 target price on shares of salesforce.com in a research note on Tuesday, October 8th. Northland Securities set a $185.00 target price on shares of salesforce.com and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, ValuEngine downgraded shares of salesforce.com from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the stock. salesforce.com has a consensus rating of “Buy” and a consensus price target of $184.74.

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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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)

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