Cornell Pochily Investment Advisors Inc. Has $506,000 Holdings in salesforce.com, inc. (CRM)

Cornell Pochily Investment Advisors Inc. cut its stake in shares of salesforce.com, inc. (NYSE:CRM) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,198 shares of the CRM provider’s stock after selling 220 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in salesforce.com were worth $506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Flinton Capital Management LLC increased its stake in salesforce.com by 17.5% in the 4th quarter. Flinton Capital Management LLC now owns 73,056 shares of the CRM provider’s stock valued at $10,006,000 after purchasing an additional 10,864 shares in the last quarter. Piedmont Investment Advisors Inc. increased its stake in salesforce.com by 5.7% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 93,507 shares of the CRM provider’s stock valued at $12,808,000 after purchasing an additional 5,063 shares in the last quarter. Heritage Investors Management Corp increased its stake in salesforce.com by 10.0% in the 1st quarter. Heritage Investors Management Corp now owns 34,427 shares of the CRM provider’s stock valued at $5,452,000 after purchasing an additional 3,143 shares in the last quarter. Putnam FL Investment Management Co. increased its stake in salesforce.com by 0.5% in the 4th quarter. Putnam FL Investment Management Co. now owns 21,392 shares of the CRM provider’s stock valued at $2,930,000 after purchasing an additional 97 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd increased its stake in salesforce.com by 10.7% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 55,648 shares of the CRM provider’s stock valued at $7,622,000 after purchasing an additional 5,398 shares in the last quarter. 83.02% of the stock is owned by hedge funds and other institutional investors.

In other news, General Counsel Amy E. Weaver sold 456 shares of the firm’s stock in a transaction on Wednesday, January 23rd. The stock was sold at an average price of $149.15, for a total transaction of $68,012.40. Following the sale, the general counsel now owns 24,258 shares in the company, valued at $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 Mark J. Hawkins sold 15,271 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $165.08, for a total value of $2,520,936.68. Following the sale, the insider now owns 25,254 shares in the company, valued at approximately $4,168,930.32. The disclosure for this sale can be found here. Insiders have sold 445,691 shares of company stock worth $70,458,306 in the last 90 days. Insiders own 6.00% of the company’s stock.

Shares of NYSE:CRM opened at $155.99 on Monday. The firm has a market cap of $120.23 billion, a price-to-earnings ratio of 107.58, a P/E/G ratio of 5.68 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95. salesforce.com, inc. has a one year low of $113.60 and a one year high of $166.99.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, equities research analysts forecast that salesforce.com, inc. will post 1.2 earnings per share for the current year.

Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded salesforce.com from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $180.00 price objective on shares of salesforce.com in a research note on Wednesday, April 17th. Robert W. Baird raised their price objective on salesforce.com from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Mizuho assumed coverage on salesforce.com in a research note on Wednesday, March 13th. They issued a “buy” rating and a $185.00 price objective for the company. Finally, Exane BNP Paribas assumed coverage on salesforce.com in a research note on Friday, March 29th. They issued an “outperform” rating for the company. Three 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’s stock. salesforce.com currently has an average rating of “Buy” and a consensus target price of $177.82.

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salesforce.com Company 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: Hedge Funds

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

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