Psagot Investment House Ltd. Invests $134,000 in salesforce.com, inc. (CRM) Stock

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Psagot Investment House Ltd. acquired a new position in shares of salesforce.com, inc. (NYSE:CRM) during the third quarter, HoldingsChannel reports. The fund acquired 840 shares of the CRM provider’s stock, valued at approximately $134,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lyell Wealth Management LP raised its holdings in shares of salesforce.com by 0.9% in the 2nd quarter. Lyell Wealth Management LP now owns 37,483 shares of the CRM provider’s stock valued at $5,113,000 after acquiring an additional 348 shares in the last quarter. Newport Wealth Strategies Inc. increased its position in shares of salesforce.com by 17.7% during the 2nd quarter. Newport Wealth Strategies Inc. now owns 2,349 shares of the CRM provider’s stock valued at $320,000 after purchasing an additional 353 shares during the last quarter. Zeke Capital Advisors LLC increased its position in shares of salesforce.com by 2.2% during the 2nd quarter. Zeke Capital Advisors LLC now owns 16,324 shares of the CRM provider’s stock valued at $2,227,000 after purchasing an additional 356 shares during the last quarter. Arthur M. Cohen & Associates LLC increased its position in shares of salesforce.com by 4.5% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 8,591 shares of the CRM provider’s stock valued at $1,366,000 after purchasing an additional 370 shares during the last quarter. Finally, Aspiriant LLC increased its position in shares of salesforce.com by 11.8% during the 3rd quarter. Aspiriant LLC now owns 3,684 shares of the CRM provider’s stock valued at $587,000 after purchasing an additional 389 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on CRM shares. Zacks Investment Research lowered salesforce.com from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. KeyCorp increased their price objective on salesforce.com from $147.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 30th. UBS Group increased their price objective on salesforce.com from $168.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Piper Jaffray Companies reiterated a “buy” rating on shares of salesforce.com in a research report on Thursday, August 30th. Finally, BMO Capital Markets increased their price objective on salesforce.com from $165.00 to $174.00 and gave the company a “market perform” rating in a research report on Monday, October 15th. Six 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’s stock. salesforce.com has an average rating of “Buy” and a consensus price target of $166.41.

NYSE CRM opened at $141.87 on Friday. salesforce.com, inc. has a fifty-two week low of $98.68 and a fifty-two week high of $161.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $101.36 billion, a price-to-earnings ratio of 315.27, a price-to-earnings-growth ratio of 4.40 and a beta of 1.38.

salesforce.com (NYSE:CRM) last released its quarterly earnings data 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. salesforce.com had a return on equity of 8.27% and a net margin of 6.45%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the business posted $0.33 EPS. The business’s revenue was up 27.3% on a year-over-year basis. As a group, research analysts expect that salesforce.com, inc. will post 1.22 earnings per share for the current year.

In other news, CEO Marc Benioff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $144.81, for a total value of $724,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joe Allanson sold 104,277 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $158.33, for a total value of $16,510,177.41. Following the completion of the transaction, the insider now owns 134,587 shares of the company’s stock, valued at approximately $21,309,159.71. The disclosure for this sale can be found here. In the last quarter, insiders acquired 18,000 shares of company stock valued at $2,703,900 and sold 498,678 shares valued at $75,182,840. Company insiders own 6.00% of the company’s stock.

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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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