salesforce.com, inc. (NYSE:CRM) Position Boosted by Mcdaniel Terry & Co.

Mcdaniel Terry & Co. increased its holdings in salesforce.com, inc. (NYSE:CRM) by 12.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,796 shares of the CRM provider’s stock after purchasing an additional 307 shares during the quarter. Mcdaniel Terry & Co.’s holdings in salesforce.com were worth $683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the stock. Duncker Streett & Co. Inc. grew its holdings in salesforce.com by 35.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock worth $40,000 after buying an additional 43 shares in the last quarter. Bank of Marin lifted its position in salesforce.com by 0.4% in the second quarter. Bank of Marin now owns 12,000 shares of the CRM provider’s stock worth $2,931,000 after purchasing an additional 43 shares during the period. Andesa Financial Management Inc. lifted its position in shares of salesforce.com by 2.0% during the 2nd quarter. Andesa Financial Management Inc. now owns 2,394 shares of the CRM provider’s stock valued at $583,000 after acquiring an additional 46 shares during the last quarter. Hills Bank & Trust Co lifted its position in shares of salesforce.com by 0.3% during the 2nd quarter. Hills Bank & Trust Co now owns 14,884 shares of the CRM provider’s stock valued at $3,636,000 after acquiring an additional 47 shares during the last quarter. Finally, Sage Rhino Capital LLC lifted its position in shares of salesforce.com by 1.2% during the 2nd quarter. Sage Rhino Capital LLC now owns 4,018 shares of the CRM provider’s stock valued at $981,000 after acquiring an additional 48 shares during the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.

CRM has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on salesforce.com from $285.00 to $305.00 and gave the company an “overweight” rating in a report on Thursday, August 26th. Wells Fargo & Company initiated coverage on salesforce.com in a report on Monday. They issued an “overweight” rating and a $325.00 target price for the company. JPMorgan Chase & Co. set a $310.00 target price on salesforce.com in a report on Wednesday, September 1st. Loop Capital upped their price target on shares of salesforce.com from $235.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, August 27th. Finally, Stifel Nicolaus upped their price target on shares of salesforce.com from $295.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $299.22.

In other salesforce.com news, CEO Marc Benioff sold 20,000 shares of salesforce.com stock in a transaction on Monday, July 19th. The shares were sold at an average price of $236.17, for a total value of $4,723,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brent Hyder sold 25,362 shares of salesforce.com stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $250.00, for a total transaction of $6,340,500.00. The disclosure for this sale can be found here. Insiders sold a total of 783,656 shares of company stock worth $196,712,344 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Shares of salesforce.com stock traded up $0.68 during midday trading on Tuesday, reaching $258.90. The company had a trading volume of 105,904 shares, compared to its average volume of 6,394,759. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $253.46 billion, a price-to-earnings ratio of 104.14, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The stock has a fifty day simple moving average of $252.41 and a 200 day simple moving average of $236.55. salesforce.com, inc. has a 1-year low of $201.51 and a 1-year high of $275.22.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 EPS for the quarter, topping 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 firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the business earned $1.44 EPS. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. Sell-side analysts expect that salesforce.com, inc. will post 2.09 earnings per share for the current year.

About salesforce.com

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 Story: What is the Quick Ratio?

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.