Renaissance Investment Group LLC Purchases Shares of 1,350 salesforce.com, inc. (CRM)

Renaissance Investment Group LLC purchased a new position in shares of salesforce.com, inc. (NYSE:CRM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,350 shares of the CRM provider’s stock, valued at approximately $214,000.

Several other large investors also recently made changes to their positions in the company. Strs Ohio increased its holdings in shares of salesforce.com by 0.5% during the first quarter. Strs Ohio now owns 979,129 shares of the CRM provider’s stock worth $155,064,000 after buying an additional 5,210 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of salesforce.com by 45.3% during the first quarter. Asset Dedication LLC now owns 218 shares of the CRM provider’s stock worth $35,000 after buying an additional 68 shares in the last quarter. WESPAC Advisors LLC increased its holdings in shares of salesforce.com by 17.7% during the first quarter. WESPAC Advisors LLC now owns 3,507 shares of the CRM provider’s stock worth $534,000 after buying an additional 528 shares in the last quarter. Viridian Ria LLC increased its holdings in shares of salesforce.com by 6.0% during the first quarter. Viridian Ria LLC now owns 7,049 shares of the CRM provider’s stock worth $1,116,000 after buying an additional 397 shares in the last quarter. Finally, Sage Rhino Capital LLC acquired a new position in shares of salesforce.com during the first quarter worth $663,000. Institutional investors own 83.02% of the company’s stock.

A number of analysts recently weighed in on the company. ValuEngine upgraded salesforce.com from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Pivotal Research upgraded salesforce.com from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $164.00 in a report on Monday, January 7th. Wedbush restated an “outperform” rating and issued a $166.00 price objective on shares of salesforce.com in a report on Monday, January 7th. Atlantic Securities assumed coverage on salesforce.com in a report on Wednesday, January 9th. They issued an “overweight” rating and a $179.00 price objective for the company. Finally, Stephens assumed coverage on salesforce.com in a report on Wednesday, January 16th. They issued an “overweight” rating and a $183.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $177.82.

Shares of salesforce.com stock opened at $155.99 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.95. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $166.99. The stock has a market cap of $120.23 billion, a price-to-earnings ratio of 107.58, a price-to-earnings-growth ratio of 5.68 and a beta of 1.39.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.14. salesforce.com had a return on equity of 8.42% and a net margin of 8.36%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the business posted $0.35 EPS. On average, sell-side analysts forecast that salesforce.com, inc. will post 1.2 earnings per share for the current year.

In other news, General Counsel Amy E. Weaver sold 456 shares of the stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $149.15, for a total transaction of $68,012.40. Following the transaction, the general counsel now owns 24,258 shares of the company’s stock, valued at approximately $3,618,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 362 shares of the stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $149.15, for a total transaction of $53,992.30. Following the transaction, the insider now directly owns 1,517 shares in the company, valued at approximately $226,260.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 445,691 shares of company stock valued at $70,458,306. Company insiders own 6.00% of the company’s stock.

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salesforce.com Profile

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.

Further Reading: Special Dividends

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

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