Cambridge Investment Research Advisors Inc. Has $8.47 Million Position in salesforce.com, inc. (CRM)

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Cambridge Investment Research Advisors Inc. boosted its stake in salesforce.com, inc. (NYSE:CRM) by 60.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,278 shares of the CRM provider’s stock after buying an additional 20,062 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in salesforce.com were worth $8,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. FMR LLC raised its position in salesforce.com by 3.5% in the 2nd quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock valued at $12,224,319,000 after buying an additional 3,066,099 shares during the last quarter. BlackRock Inc. raised its position in salesforce.com by 5.2% in the 2nd quarter. BlackRock Inc. now owns 44,655,653 shares of the CRM provider’s stock valued at $6,091,032,000 after buying an additional 2,212,408 shares during the last quarter. OppenheimerFunds Inc. raised its position in salesforce.com by 13,746.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,034,856 shares of the CRM provider’s stock valued at $141,154,000 after buying an additional 1,027,382 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in salesforce.com by 14.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,533,328 shares of the CRM provider’s stock valued at $1,027,545,000 after purchasing an additional 961,104 shares during the period. Finally, Mainstay Capital Management LLC ADV grew its stake in salesforce.com by 7,692.8% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 931,003 shares of the CRM provider’s stock valued at $7,081,000 after purchasing an additional 919,056 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on CRM. Barclays upped their price objective on salesforce.com from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 15th. Piper Jaffray Companies upped their price objective on salesforce.com from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 15th. Morgan Stanley upped their price objective on salesforce.com from $153.00 to $178.00 and gave the company an “overweight” rating in a research note on Tuesday, August 14th. Wedbush upped their price objective on salesforce.com from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 22nd. Finally, Societe Generale set a $170.00 price objective on salesforce.com and gave the company a “buy” rating in a research note on Tuesday, August 14th. Six research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $166.41.

CRM stock opened at $141.87 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market cap of $101.36 billion, a PE ratio of 114.49, a PEG ratio of 4.40 and a beta of 1.38. salesforce.com, inc. has a fifty-two week low of $98.68 and a fifty-two week high of $161.19.

salesforce.com (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 29th. The CRM provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.24. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.23 billion. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 EPS. On average, equities analysts forecast that salesforce.com, inc. will post 1.22 EPS for the current year.

In related news, Director John Victor Roos sold 176 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $149.51, for a total transaction of $26,313.76. Following the sale, the director now owns 12,337 shares of the company’s stock, valued at approximately $1,844,504.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith Block sold 2,160 shares of the stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $142.61, for a total value of $308,037.60. Following the sale, the chief executive officer now directly owns 23,836 shares in the company, valued at approximately $3,399,251.96. The disclosure for this sale can be found here. In the last quarter, insiders have bought 18,000 shares of company stock valued at $2,703,900 and have sold 498,678 shares valued at $75,182,840. 6.00% of the stock is currently owned by corporate insiders.

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

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