Gemmer Asset Management LLC Purchased 789 Shares of salesforce.com, inc. (CRM)

Gemmer Asset Management LLC Purchased 789 Shares of salesforce.com, inc. (CRM)

Gemmer Asset Management LLC raised its holdings in shares of salesforce.com, inc. (NYSE:CRM) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,078 shares of the CRM provider’s stock after purchasing an additional 789 shares during the period. salesforce.com accounts for approximately 1.8% of Gemmer Asset Management LLC’s holdings, making the stock its 15th biggest holding. Gemmer Asset Management LLC’s holdings in salesforce.com were worth $5,763,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC boosted its position in salesforce.com by 3.5% during the second quarter. FMR LLC now owns 89,621,104 shares of the CRM provider’s stock worth $12,224,319,000 after purchasing an additional 3,066,099 shares during the period. Vanguard Group Inc. boosted its position in salesforce.com by 4.6% during the third quarter. Vanguard Group Inc. now owns 54,471,296 shares of the CRM provider’s stock worth $8,662,570,000 after purchasing an additional 2,398,648 shares during the period. Vanguard Group Inc boosted its position in salesforce.com by 4.6% during the third quarter. Vanguard Group Inc now owns 54,471,296 shares of the CRM provider’s stock worth $8,662,570,000 after purchasing an additional 2,398,648 shares during the period. BlackRock Inc. boosted its position in salesforce.com by 5.1% during the third quarter. BlackRock Inc. now owns 46,948,526 shares of the CRM provider’s stock worth $7,466,224,000 after purchasing an additional 2,292,873 shares during the period. Finally, Morgan Stanley boosted its position in salesforce.com by 2.0% during the third quarter. Morgan Stanley now owns 14,792,319 shares of the CRM provider’s stock worth $2,352,421,000 after purchasing an additional 296,317 shares during the period. Institutional investors own 82.23% of the company’s stock.

CRM stock traded up $1.74 during trading on Friday, hitting $156.67. The company had a trading volume of 3,005,896 shares, compared to its average volume of 4,792,196. salesforce.com, inc. has a one year low of $102.37 and a one year high of $161.19. The stock has a market capitalization of $119.85 billion, a PE ratio of 348.16, a PEG ratio of 5.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86.

salesforce.com (NYSE:CRM) last announced its earnings results on Tuesday, November 27th. The CRM provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.11. salesforce.com had a return on equity of 8.06% and a net margin of 6.51%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts expect that salesforce.com, inc. will post 1.32 earnings per share for the current year.

In other salesforce.com news, CEO Keith Block sold 2,160 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $131.48, for a total value of $283,996.80. Following the transaction, the chief executive officer now directly owns 23,836 shares of the company’s stock, valued at $3,133,957.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 5,710 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $131.92, for a total value of $753,263.20. Following the transaction, the insider now directly owns 27,937 shares in the company, valued at $3,685,449.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 531,829 shares of company stock worth $73,328,115. Insiders own 6.00% of the company’s stock.

A number of equities analysts have commented on the stock. Goldman Sachs Group reaffirmed a “buy” rating and set a $168.00 price objective on shares of salesforce.com in a research report on Wednesday, November 28th. Sanford C. Bernstein reissued a “neutral” rating and set a $149.00 target price on shares of salesforce.com in a report on Wednesday, November 28th. Credit Suisse Group reissued a “buy” rating and set a $175.00 target price on shares of salesforce.com in a report on Wednesday, November 28th. Nomura reissued a “buy” rating on shares of salesforce.com in a report on Wednesday, December 5th. Finally, Wedbush reissued an “outperform” rating and set a $166.00 target price on shares of salesforce.com in a report on Monday, January 7th. Three analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $170.38.

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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