Wesbanco Bank Inc. lifted its position in shares of salesforce.com, inc. (NYSE:CRM) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,867 shares of the CRM provider’s stock after purchasing an additional 590 shares during the period. salesforce.com accounts for about 1.2% of Wesbanco Bank Inc.’s holdings, making the stock its 15th biggest position. Wesbanco Bank Inc.’s holdings in salesforce.com were worth $24,702,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in CRM. AlphaCore Capital LLC purchased a new stake in salesforce.com during the first quarter worth about $28,000. Delta Asset Management LLC TN raised its position in salesforce.com by 166.7% during the 1st quarter. Delta Asset Management LLC TN now owns 200 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Engrave Wealth Partners LLC bought a new stake in salesforce.com in the fourth quarter valued at $32,000. Red Door Wealth Management LLC bought a new stake in shares of salesforce.com during the 1st quarter valued at about $29,000. Finally, Accurate Investment Solutions Inc. boosted its position in salesforce.com by 632.1% during the 1st quarter. Accurate Investment Solutions Inc. now owns 205 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.
Several research firms have recently issued reports on CRM. Credit Suisse Group reiterated a “buy” rating and set a $200.00 target price on shares of salesforce.com in a report on Friday, May 29th. SunTrust Banks reaffirmed a “buy” rating and set a $210.00 price target on shares of salesforce.com in a report on Friday, May 22nd. Oppenheimer lifted their target price on shares of salesforce.com from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, May 18th. Monness Crespi & Hardt lifted their price objective on salesforce.com from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Zacks Investment Research upgraded salesforce.com from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-nine have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $200.21.
salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Thursday, May 28th. The CRM provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. salesforce.com had a negative net margin of 0.92% and a positive return on equity of 2.45%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company earned $0.93 EPS. salesforce.com’s quarterly revenue was up 30.2% on a year-over-year basis. As a group, sell-side analysts forecast that salesforce.com, inc. will post 1.13 earnings per share for the current year.
In related news, insider Amy E. Weaver sold 416 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $178.43, for a total transaction of $74,226.88. Following the sale, the insider now directly owns 29,655 shares of the company’s stock, valued at $5,291,341.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 10,000 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $152.77, for a total value of $1,527,700.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 605,376 shares of company stock valued at $108,362,271. 4.40% of the stock is currently owned by corporate insiders.
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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