Schmidt P J Investment Management Inc. Boosts Stock Position in salesforce.com, inc. (NYSE:CRM)

Schmidt P J Investment Management Inc. boosted its holdings in salesforce.com, inc. (NYSE:CRM) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,949 shares of the CRM provider’s stock after buying an additional 338 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in salesforce.com were worth $1,965,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Avondale Wealth Management increased its holdings in salesforce.com by 100.0% in the first quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Citizens Financial Group Inc RI purchased a new position in shares of salesforce.com during the first quarter worth about $27,000. Arcadia Investment Management Corp MI grew its holdings in shares of salesforce.com by 63.0% during the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares during the last quarter. CX Institutional grew its holdings in shares of salesforce.com by 426.5% during the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 145 shares during the last quarter. Finally, Brand Asset Management Group Inc. purchased a new position in shares of salesforce.com during the first quarter worth about $30,000. 81.64% of the stock is currently owned by hedge funds and other institutional investors.

In other salesforce.com news, insider Parker Harris sold 620 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $147.30, for a total value of $91,326.00. Following the completion of the transaction, the insider now directly owns 29,438 shares of the company’s stock, valued at $4,336,217.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Marc Benioff sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $155.60, for a total transaction of $1,556,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 333,547 shares of company stock valued at $51,704,112. 5.50% of the stock is currently owned by corporate insiders.

NYSE:CRM traded down $2.64 during mid-day trading on Monday, reaching $143.06. The stock had a trading volume of 611,036 shares, compared to its average volume of 6,207,911. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a market cap of $113.06 billion, a price-to-earnings ratio of 98.70, a price-to-earnings-growth ratio of 5.35 and a beta of 1.27. salesforce.com, inc. has a twelve month low of $113.60 and a twelve month high of $167.56. The firm’s 50 day moving average price is $154.93.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts forecast that salesforce.com, inc. will post 1.25 earnings per share for the current year.

Several brokerages have issued reports on CRM. Nomura dropped their price objective on salesforce.com from $184.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. OTR Global lowered salesforce.com to a “positive” rating in a report on Wednesday, May 15th. Jefferies Financial Group set a $189.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Monday, July 15th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $200.00 price objective (up previously from $195.00) on shares of salesforce.com in a report on Wednesday, June 5th. Finally, Sanford C. Bernstein reaffirmed a “neutral” rating and set a $169.00 price objective on shares of salesforce.com in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company. salesforce.com presently has an average rating of “Buy” and a consensus target price of $180.11.

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.

Read More: What are the components of an earnings report?

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.