salesforce.com, inc. (NYSE:CRM) Holdings Lifted by Pacific Wealth Strategies Group Inc.

Pacific Wealth Strategies Group Inc. increased its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,106 shares of the CRM provider’s stock after buying an additional 252 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in salesforce.com were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CRM. Appleton Partners Inc. MA lifted its position in shares of salesforce.com by 2.4% in the third quarter. Appleton Partners Inc. MA now owns 1,562 shares of the CRM provider’s stock worth $424,000 after buying an additional 36 shares during the last quarter. Duncker Streett & Co. Inc. lifted its position in shares of salesforce.com by 35.8% in the second quarter. Duncker Streett & Co. Inc. now owns 163 shares of the CRM provider’s stock worth $40,000 after buying an additional 43 shares during the last quarter. Bank of Marin lifted its position in shares of 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 buying an additional 43 shares during the last quarter. Magellan Asset Management Ltd lifted its position in shares of salesforce.com by 2.5% in the second quarter. Magellan Asset Management Ltd now owns 1,880 shares of the CRM provider’s stock worth $459,000 after buying an additional 45 shares during the last quarter. Finally, Andesa Financial Management Inc. lifted its position in shares of salesforce.com by 2.0% in the second quarter. Andesa Financial Management Inc. now owns 2,394 shares of the CRM provider’s stock worth $583,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

CRM stock traded down $2.25 during trading hours on Thursday, reaching $289.17. 5,090,392 shares of the stock were exchanged, compared to its average volume of 6,067,207. The firm’s 50-day moving average is $288.13 and its 200-day moving average is $259.25. The company has a market cap of $283.10 billion, a price-to-earnings ratio of 116.13, a PEG ratio of 8.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. salesforce.com, inc. has a 12 month low of $201.51 and a 12 month high of $311.75.

salesforce.com (NYSE:CRM) last released its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.56. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.25 billion. salesforce.com had a return on equity of 7.15% and a net margin of 9.99%. The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 EPS. As a group, equities research analysts forecast that salesforce.com, inc. will post 2.15 earnings per share for the current year.

In related news, CFO Amy E. Weaver sold 510 shares of salesforce.com stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $293.19, for a total transaction of $149,526.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $265.86, for a total transaction of $5,317,200.00. The disclosure for this sale can be found here. Insiders sold a total of 737,826 shares of company stock valued at $205,921,946 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

CRM has been the subject of several research analyst reports. Cowen reissued a “buy” rating and set a $325.00 price objective on shares of salesforce.com in a research report on Friday, September 24th. Deutsche Bank Aktiengesellschaft initiated coverage on salesforce.com in a research report on Monday, November 1st. They set a “buy” rating and a $360.00 price objective for the company. Canaccord Genuity boosted their price objective on salesforce.com from $200.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th. Societe Generale upped their price target on salesforce.com from $290.00 to $321.00 and gave the company a “buy” rating in a report on Friday, August 27th. Finally, Wells Fargo & Company reaffirmed a “buy” rating and issued a $340.00 price target on shares of salesforce.com in a report on Thursday, October 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, salesforce.com has a consensus rating of “Buy” and an average target price of $320.59.

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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