Traders Buy Shares of salesforce.com (CRM) on Weakness

Investors bought shares of salesforce.com, inc. (NYSE:CRM) on weakness during trading hours on Monday. $136.54 million flowed into the stock on the tick-up and $98.16 million flowed out of the stock on the tick-down, for a money net flow of $38.38 million into the stock. Of all stocks tracked, salesforce.com had the 21st highest net in-flow for the day. salesforce.com traded down ($0.09) for the day and closed at $158.47

CRM has been the subject of several research reports. Bank of America reissued a “buy” rating and issued a $200.00 target price (up previously from $181.00) on shares of salesforce.com in a research report on Wednesday, February 27th. Mizuho started coverage on salesforce.com in a research note on Wednesday, March 13th. They issued a “buy” rating and a $185.00 price target on the stock. Deutsche Bank reaffirmed a “buy” rating on shares of salesforce.com in a research note on Tuesday, March 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $185.00 price objective (up previously from $175.00) on shares of salesforce.com in a report on Tuesday, March 5th. Finally, Wedbush boosted their target price on shares of salesforce.com from $174.00 to $192.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Three investment 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 target price of $177.82.

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $122.25 billion, a PE ratio of 109.29, a P/E/G ratio of 5.29 and a beta of 1.39.

salesforce.com (NYSE:CRM) last announced its quarterly earnings results on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.14. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, equities analysts expect that salesforce.com, inc. will post 1.31 earnings per share for the current fiscal year.

In other news, Chairman Marc Benioff sold 10,000 shares of salesforce.com stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $161.20, for a total value of $1,612,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith Block sold 2,500 shares of salesforce.com stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $161.41, for a total transaction of $403,525.00. Following the completion of the sale, the chief executive officer now owns 30,002 shares of the company’s stock, valued at $4,842,622.82. The disclosure for this sale can be found here. In the last three months, insiders sold 433,684 shares of company stock valued at $67,959,750. Corporate insiders own 6.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in salesforce.com by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 8,205,516 shares of the CRM provider’s stock valued at $1,304,923,000 after acquiring an additional 75,769 shares during the period. Martingale Asset Management L P increased its position in shares of salesforce.com by 32.1% during the 3rd quarter. Martingale Asset Management L P now owns 7,413 shares of the CRM provider’s stock valued at $1,179,000 after purchasing an additional 1,801 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of salesforce.com by 4.6% during the 3rd quarter. Panagora Asset Management Inc. now owns 19,813 shares of the CRM provider’s stock valued at $3,151,000 after purchasing an additional 874 shares during the last quarter. Bridgeway Capital Management Inc. bought a new position in shares of salesforce.com in the 3rd quarter worth approximately $207,000. Finally, People s United Financial Inc. lifted its stake in shares of salesforce.com by 10.4% in the 3rd quarter. People s United Financial Inc. now owns 6,904 shares of the CRM provider’s stock worth $1,098,000 after purchasing an additional 649 shares during the period. Institutional investors own 83.02% of the company’s stock.

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salesforce.com Company Profile (NYSE:CRM)

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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