Bank of New York Mellon Corp Raises Holdings in salesforce.com, inc. (NYSE:CRM)

Bank of New York Mellon Corp boosted its position in shares of salesforce.com, inc. (NYSE:CRM) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,610,953 shares of the CRM provider’s stock after buying an additional 232,394 shares during the period. Bank of New York Mellon Corp owned approximately 1.04% of salesforce.com worth $2,347,669,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CRM. MBM Wealth Consultants LLC purchased a new stake in salesforce.com during the first quarter valued at $25,000. Atlas Private Wealth Advisors lifted its holdings in shares of salesforce.com by 115.3% in the 2nd quarter. Atlas Private Wealth Advisors now owns 127 shares of the CRM provider’s stock valued at $31,000 after acquiring an additional 68 shares during the last quarter. Sage Financial Management Group Inc. purchased a new position in salesforce.com in the first quarter worth about $32,000. First PREMIER Bank purchased a new stake in salesforce.com during the second quarter valued at approximately $32,000. Finally, Providence Capital Advisors LLC boosted its holdings in shares of salesforce.com by 87.2% in the 1st quarter. Providence Capital Advisors LLC now owns 161 shares of the CRM provider’s stock worth $34,000 after purchasing an additional 75 shares during the period. 77.33% of the stock is owned by institutional investors.

In other salesforce.com news, CFO Amy E. Weaver sold 6,135 shares of the business’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $266.27, for a total transaction of $1,633,566.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $269.36, for a total transaction of $5,387,200.00. The disclosure for this sale can be found here. Insiders sold 783,656 shares of company stock worth $196,712,344 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

CRM has been the topic of several recent analyst reports. Canaccord Genuity increased their target price on shares of salesforce.com from $200.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 26th. Bank of America increased their price target on salesforce.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Mizuho boosted their price objective on salesforce.com from $290.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, August 26th. Sanford C. Bernstein increased their target price on salesforce.com from $266.00 to $290.00 and gave the stock a “market perform” rating in a research note on Thursday, August 26th. Finally, Morgan Stanley upped their price target on shares of salesforce.com from $285.00 to $305.00 and gave the stock an “overweight” rating in a report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, salesforce.com currently has a consensus rating of “Buy” and an average target price of $299.22.

CRM traded up $1.45 during trading hours on Tuesday, reaching $259.67. The company’s stock had a trading volume of 126,557 shares, compared to its average volume of 6,394,759. The stock has a market cap of $254.22 billion, a PE ratio of 104.14, a P/E/G ratio of 7.35 and a beta of 1.09. salesforce.com, inc. has a fifty-two week low of $201.51 and a fifty-two week high of $275.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. The business’s 50-day moving average is $252.41 and its 200-day moving average is $236.55.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.56. The business had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.25 billion. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.44 EPS. Analysts expect that salesforce.com, inc. will post 2.09 EPS for the current year.

salesforce.com Company Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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Institutional Ownership by Quarter for salesforce.com (NYSE:CRM)

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