Utah Retirement Systems Has $35.70 Million Stock Position in salesforce.com, inc. (NYSE:CRM)

Utah Retirement Systems lowered its holdings in salesforce.com, inc. (NYSE:CRM) by 4.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168,521 shares of the CRM provider’s stock after selling 7,400 shares during the quarter. Utah Retirement Systems’ holdings in salesforce.com were worth $35,704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Norges Bank acquired a new stake in salesforce.com in the 4th quarter valued at approximately $2,202,604,000. Polen Capital Management LLC grew its holdings in salesforce.com by 31.0% in the 1st quarter. Polen Capital Management LLC now owns 9,228,555 shares of the CRM provider’s stock valued at $1,955,254,000 after buying an additional 2,186,033 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of salesforce.com by 134.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,472,998 shares of the CRM provider’s stock worth $735,824,000 after purchasing an additional 1,993,259 shares in the last quarter. FIL Ltd grew its holdings in shares of salesforce.com by 204.5% during the 1st quarter. FIL Ltd now owns 2,745,611 shares of the CRM provider’s stock worth $581,712,000 after purchasing an additional 1,843,937 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of salesforce.com by 13.8% during the 4th quarter. Morgan Stanley now owns 13,886,700 shares of the CRM provider’s stock worth $3,090,207,000 after purchasing an additional 1,680,084 shares in the last quarter. 75.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CRM stock traded up $2.96 on Thursday, reaching $245.07. 162,673 shares of the stock were exchanged, compared to its average volume of 5,821,215. The company has a market capitalization of $226.93 billion, a PE ratio of 50.65, a PEG ratio of 8.14 and a beta of 1.09. salesforce.com, inc. has a one year low of $184.38 and a one year high of $284.50. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $237.35.

salesforce.com (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 26th. The CRM provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.33. salesforce.com had a return on equity of 8.02% and a net margin of 19.88%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, analysts anticipate that salesforce.com, inc. will post 1.6 earnings per share for the current year.

CRM has been the topic of several recent research reports. Wolfe Research initiated coverage on salesforce.com in a report on Wednesday, April 28th. They set an “outperform” rating and a $270.00 price objective on the stock. JPMorgan Chase & Co. set a $250.00 price objective on salesforce.com and gave the stock a “buy” rating in a report on Friday, May 28th. Redburn Partners initiated coverage on salesforce.com in a report on Monday, June 28th. They set a “buy” rating and a $320.00 price objective on the stock. They noted that the move was a valuation call. Mizuho lifted their price objective on salesforce.com from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, May 28th. Finally, Evercore ISI lifted their price objective on salesforce.com from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, June 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $277.31.

In related news, insider Parker Harris sold 4,300 shares of salesforce.com stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $240.56, for a total transaction of $1,034,408.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Joe Allanson sold 313 shares of salesforce.com stock in a transaction on Wednesday, June 23rd. The stock was sold at an average price of $242.40, for a total value of $75,871.20. Following the sale, the chief accounting officer now directly owns 31,398 shares of the company’s stock, valued at $7,610,875.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 371,858 shares of company stock valued at $89,627,182. 4.10% of the stock is owned by insiders.

salesforce.com Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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

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