ValuEngine Downgrades salesforce.com (NYSE:CRM) to Hold

salesforce.com (NYSE:CRM) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday, ValuEngine reports.

Several other equities research analysts have also recently issued reports on CRM. Nomura reduced their price objective on shares of salesforce.com from $184.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Sanford C. Bernstein reiterated a “neutral” rating and set a $169.00 price objective on shares of salesforce.com in a research report on Tuesday, June 11th. UBS Group set a $190.00 price objective on shares of salesforce.com and gave the company a “buy” rating in a research report on Tuesday, June 11th. Wedbush reiterated an “outperform” rating and set a $192.00 price objective on shares of salesforce.com in a research report on Friday, May 31st. Finally, Barclays reiterated a “buy” rating and set a $182.00 price objective on shares of salesforce.com in a research report on Tuesday, June 11th. Four analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $180.11.

NYSE:CRM traded down $5.11 during trading hours on Thursday, hitting $145.70. 13,134,108 shares of the stock traded hands, compared to its average volume of 4,901,678. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com has a 1 year low of $113.60 and a 1 year high of $167.56. The stock has a market capitalization of $113.06 billion, a P/E ratio of 100.48, a price-to-earnings-growth ratio of 5.68 and a beta of 1.27. The firm has a 50 day moving average of $154.93.

salesforce.com (NYSE:CRM) last issued its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.32. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. As a group, research analysts forecast that salesforce.com will post 1.25 earnings per share for the current year.

In related news, General Counsel Amy E. Weaver sold 6,409 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $153.92, for a total value of $986,473.28. Following the sale, the general counsel now owns 32,650 shares in the company, valued at $5,025,488. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joe Allanson sold 327 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $153.55, for a total transaction of $50,210.85. Following the completion of the sale, the chief accounting officer now owns 30,619 shares in the company, valued at approximately $4,701,547.45. The disclosure for this sale can be found here. Insiders sold 343,547 shares of company stock worth $53,324,812 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Avondale Wealth Management increased its position in salesforce.com by 100.0% during the first quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Citizens Financial Group Inc RI bought a new position in salesforce.com during the first quarter valued at $27,000. Arcadia Investment Management Corp MI increased its position in salesforce.com by 63.0% during the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. CX Institutional increased its position in salesforce.com by 426.5% during the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 145 shares during the last quarter. Finally, Personal Wealth Partners bought a new position in salesforce.com during the second quarter valued at $28,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

About salesforce.com

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.

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