salesforce.com (NYSE:CRM) Now Covered by Credit Suisse Group

Credit Suisse Group began coverage on shares of salesforce.com (NYSE:CRM) in a research report released on Monday morning, FinViz reports. The firm issued an outperform rating and a $260.00 target price on the CRM provider’s stock.

CRM has been the subject of several other reports. Barclays set a $276.00 price objective on salesforce.com and gave the stock a buy rating in a research note on Wednesday, December 9th. Zacks Investment Research lowered salesforce.com from a hold rating to a sell rating and set a $232.00 price objective for the company. in a research note on Monday, March 1st. The Goldman Sachs Group upgraded salesforce.com from a buy rating to a conviction-buy rating and set a $315.00 price target for the company in a research note on Monday, March 8th. JPMorgan Chase & Co. set a $250.00 price target on salesforce.com and gave the stock a buy rating in a research note on Friday, February 26th. Finally, Nord/LB downgraded shares of salesforce.com from a buy rating to a hold rating in a report on Wednesday, March 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-five have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $269.03.

Shares of NYSE:CRM opened at $222.70 on Monday. salesforce.com has a 1 year low of $145.00 and a 1 year high of $284.50. The stock’s 50-day moving average is $218.94 and its 200 day moving average is $233.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $205.11 billion, a PE ratio of 57.65, a P/E/G ratio of 5.42 and a beta of 1.17.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, February 25th. The CRM provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.74. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.68 billion. salesforce.com had a return on equity of 6.63% and a net margin of 17.53%. Analysts expect that salesforce.com will post 2.81 EPS for the current fiscal year.

In other news, insider Srinivas Tallapragada sold 5,000 shares of the stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $239.70, for a total value of $1,198,500.00. Following the completion of the sale, the insider now owns 51,242 shares of the company’s stock, valued at approximately $12,282,707.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 10,000 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 32,296 shares of the company’s stock, valued at approximately $7,105,120. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,330 shares of company stock valued at $16,256,366. 4.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Occidental Asset Management LLC grew its stake in shares of salesforce.com by 2.2% in the fourth quarter. Occidental Asset Management LLC now owns 2,054 shares of the CRM provider’s stock valued at $457,000 after buying an additional 45 shares in the last quarter. Convergence Investment Partners LLC lifted its holdings in salesforce.com by 2.5% during the 4th quarter. Convergence Investment Partners LLC now owns 1,843 shares of the CRM provider’s stock worth $410,000 after buying an additional 45 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in salesforce.com by 2.8% during the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 1,632 shares of the CRM provider’s stock worth $363,000 after buying an additional 45 shares during the last quarter. TCI Wealth Advisors Inc. lifted its holdings in shares of salesforce.com by 3.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 1,367 shares of the CRM provider’s stock valued at $304,000 after purchasing an additional 46 shares during the last quarter. Finally, Hengehold Capital Management LLC increased its position in salesforce.com by 2.1% in the 4th quarter. Hengehold Capital Management LLC now owns 2,235 shares of the CRM provider’s stock valued at $497,000 after acquiring an additional 46 shares during the period. 80.20% of the stock is owned by institutional investors and hedge funds.

About salesforce.com

salesforce.com, inc. develops enterprise cloud computing solutions with a focus on customer relationship management worldwide. 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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