Tompkins Financial Corp reduced its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,811 shares of the CRM provider’s stock after selling 120 shares during the quarter. Tompkins Financial Corp’s holdings in salesforce.com were worth $294,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in CRM. State Street Corp lifted its stake in shares of salesforce.com by 12.1% during the 3rd quarter. State Street Corp now owns 34,667,028 shares of the CRM provider’s stock valued at $5,145,974,000 after buying an additional 3,749,613 shares in the last quarter. BlackRock Inc. lifted its stake in shares of salesforce.com by 4.7% during the 2nd quarter. BlackRock Inc. now owns 56,165,345 shares of the CRM provider’s stock valued at $8,521,967,000 after buying an additional 2,499,996 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of salesforce.com by 29.3% during the 3rd quarter. Fisher Asset Management LLC now owns 7,265,009 shares of the CRM provider’s stock valued at $1,078,418,000 after buying an additional 1,646,325 shares in the last quarter. HMI Capital LLC purchased a new stake in shares of salesforce.com during the 3rd quarter valued at approximately $193,270,000. Finally, Third Point LLC lifted its stake in shares of salesforce.com by 92.3% during the 3rd quarter. Third Point LLC now owns 2,500,000 shares of the CRM provider’s stock valued at $371,100,000 after buying an additional 1,200,000 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of salesforce.com from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a research note on Wednesday. Sanford C. Bernstein reiterated a “neutral” rating and issued a $175.00 target price on shares of salesforce.com in a research note on Wednesday, December 4th. Credit Suisse Group increased their target price on shares of salesforce.com from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Citigroup increased their target price on shares of salesforce.com from $185.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of salesforce.com in a research note on Wednesday, December 4th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $194.66.
CRM stock opened at $182.75 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. salesforce.com, inc. has a 52 week low of $137.87 and a 52 week high of $186.44. The firm’s fifty day moving average is $168.40 and its 200 day moving average is $157.06. The firm has a market cap of $164.33 billion, a P/E ratio of 194.41, a P/E/G ratio of 7.73 and a beta of 1.22.
salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.45 billion. salesforce.com had a net margin of 4.64% and a return on equity of 5.37%. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. As a group, analysts forecast that salesforce.com, inc. will post 1.28 EPS for the current 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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