Heritage Wealth Management LLC Takes Position in salesforce.com, inc. (NYSE:CRM)

Heritage Wealth Management LLC purchased a new stake in salesforce.com, inc. (NYSE:CRM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,971 shares of the CRM provider’s stock, valued at approximately $481,000.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Polen Capital Management LLC increased its stake in salesforce.com by 31.0% in the 1st quarter. Polen Capital Management LLC now owns 9,228,555 shares of the CRM provider’s stock valued at $1,955,254,000 after purchasing an additional 2,186,033 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in salesforce.com by 134.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,472,998 shares of the CRM provider’s stock worth $735,824,000 after buying an additional 1,993,259 shares in the last quarter. FIL Ltd increased its position in salesforce.com by 204.5% during the first quarter. FIL Ltd now owns 2,745,611 shares of the CRM provider’s stock worth $581,712,000 after buying an additional 1,843,937 shares in the last quarter. Nuveen Asset Management LLC increased its position in salesforce.com by 13.3% during the first quarter. Nuveen Asset Management LLC now owns 13,065,311 shares of the CRM provider’s stock worth $2,768,147,000 after buying an additional 1,537,635 shares in the last quarter. Finally, Vulcan Value Partners LLC increased its position in salesforce.com by 35.6% during the first quarter. Vulcan Value Partners LLC now owns 4,222,384 shares of the CRM provider’s stock worth $894,597,000 after buying an additional 1,107,432 shares in the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.

In other salesforce.com news, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $242.18, for a total transaction of $4,843,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 819 shares of the business’s stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $242.40, for a total transaction of $198,525.60. Following the transaction, the chief financial officer now directly owns 31,266 shares in the company, valued at $7,578,878.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 783,656 shares of company stock valued at $196,712,344. 4.10% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on salesforce.com in a report on Monday. They issued an “overweight” rating and a $325.00 target price on the stock. Loop Capital boosted their price target on salesforce.com from $235.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, August 27th. Stifel Nicolaus boosted their price target on salesforce.com from $295.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 26th. Wolfe Research boosted their price objective on salesforce.com from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Finally, Barclays upped their target price on salesforce.com from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Friday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $299.83.

Shares of CRM traded up $1.36 during trading hours on Tuesday, hitting $259.58. The company’s stock had a trading volume of 186,673 shares, compared to its average volume of 6,394,759. The company has a market cap of $254.13 billion, a price-to-earnings ratio of 104.73, a PEG ratio of 7.35 and a beta of 1.09. 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 has a 50 day simple moving average of $252.41 and a two-hundred day simple moving average of $236.55. salesforce.com, inc. has a 52-week low of $201.51 and a 52-week high of $275.22.

salesforce.com (NYSE:CRM) last released its quarterly earnings data on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The company had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the business earned $1.44 earnings per share. salesforce.com’s revenue was up 23.1% compared to the same quarter last year. Research analysts predict that salesforce.com, inc. will post 2.09 earnings per share for the current year.

salesforce.com 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.

Featured Article: Why are analyst ratings important in trading stocks?

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)

Receive News & Ratings for salesforce.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for salesforce.com and related companies with MarketBeat.com's FREE daily email newsletter.