Commerce Bank Has $3.82 Million Position in salesforce.com, inc. (NYSE:CRM)

Commerce Bank boosted its position in shares of salesforce.com, inc. (NYSE:CRM) by 25.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,495 shares of the CRM provider’s stock after purchasing an additional 5,317 shares during the quarter. Commerce Bank’s holdings in salesforce.com were worth $3,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its holdings in salesforce.com by 2.2% during the fourth quarter. State Street Corp now owns 35,429,991 shares of the CRM provider’s stock valued at $5,762,334,000 after purchasing an additional 762,963 shares during the period. Nuveen Asset Management LLC grew its holdings in salesforce.com by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 14,411,546 shares of the CRM provider’s stock valued at $2,343,894,000 after purchasing an additional 113,370 shares during the period. Geode Capital Management LLC boosted its holdings in shares of salesforce.com by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 11,875,146 shares of the CRM provider’s stock valued at $1,926,876,000 after buying an additional 339,641 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of salesforce.com by 49.6% in the first quarter. Fisher Asset Management LLC now owns 10,873,498 shares of the CRM provider’s stock valued at $1,565,566,000 after buying an additional 3,606,319 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of salesforce.com by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 8,739,204 shares of the CRM provider’s stock valued at $1,421,342,000 after buying an additional 227,958 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

CRM has been the subject of several research analyst reports. Rosenblatt Securities initiated coverage on shares of salesforce.com in a report on Monday, May 4th. They issued a “sell” rating for the company. Cowen reduced their price target on shares of salesforce.com from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, May 18th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $200.00 price target on shares of salesforce.com in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of salesforce.com from $230.00 to $210.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Finally, Robert W. Baird upped their price target on shares of salesforce.com from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $198.69.

CRM stock opened at $177.85 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.08 and a current ratio of 1.08. The company’s 50-day simple moving average is $159.26 and its 200 day simple moving average is $165.63. salesforce.com, inc. has a 52 week low of $115.29 and a 52 week high of $195.72. The company has a market capitalization of $157.54 billion, a PE ratio of 889.29, a price-to-earnings-growth ratio of 7.99 and a beta of 1.07.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, February 25th. The CRM provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.10. salesforce.com had a net margin of 0.74% and a return on equity of 3.61%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the prior year, the company posted $0.70 earnings per share. On average, analysts forecast that salesforce.com, inc. will post 1.22 EPS for the current year.

In other salesforce.com news, CEO Marc Benioff sold 10,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $176.19, for a total transaction of $1,761,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig Conway sold 225 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $131.00, for a total transaction of $29,475.00. Following the sale, the director now owns 10,165 shares in the company, valued at $1,331,615. The disclosure for this sale can be found here. Insiders have sold 413,535 shares of company stock worth $65,708,070 over the last quarter. Corporate insiders own 4.40% of the company’s stock.

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.

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

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