Bernicke Wealth Management Ltd. Has $1.07 Million Position in salesforce.com, inc. (CRM)

Bernicke Wealth Management Ltd. boosted its position in salesforce.com, inc. (NYSE:CRM) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,730 shares of the CRM provider’s stock after acquiring an additional 108 shares during the quarter. salesforce.com accounts for about 0.7% of Bernicke Wealth Management Ltd.’s holdings, making the stock its 15th biggest holding. Bernicke Wealth Management Ltd.’s holdings in salesforce.com were worth $1,066,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CRM. Avondale Wealth Management raised its holdings in salesforce.com by 100.0% during the first quarter. Avondale Wealth Management now owns 160 shares of the CRM provider’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in salesforce.com during the fourth quarter worth approximately $28,000. CX Institutional raised its holdings in salesforce.com by 426.5% during the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 145 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in salesforce.com by 63.0% during the first quarter. Arcadia Investment Management Corp MI now owns 176 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Finally, Brand Asset Management Group Inc. acquired a new stake in salesforce.com during the first quarter worth approximately $30,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on CRM shares. Stephens started coverage on shares of salesforce.com in a report on Wednesday, January 16th. They set an “overweight” rating and a $183.00 price objective on the stock. TheStreet raised shares of salesforce.com from a “c+” rating to a “b” rating in a report on Thursday, January 31st. Bank of America reissued a “buy” rating and set a $200.00 price objective (up previously from $181.00) on shares of salesforce.com in a report on Wednesday, February 27th. Barclays raised their price objective on shares of salesforce.com to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $185.00 price objective (up previously from $175.00) on shares of salesforce.com in a report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com presently has a consensus rating of “Buy” and a consensus target price of $177.82.

In related news, insider Parker Harris sold 6,331 shares of salesforce.com stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $160.72, for a total value of $1,017,518.32. Following the transaction, the insider now directly owns 29,974 shares in the company, valued at approximately $4,817,421.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Amy E. Weaver sold 5,325 shares of salesforce.com stock in a transaction on Friday, February 15th. The shares were sold at an average price of $161.08, for a total transaction of $857,751.00. Following the completion of the transaction, the insider now owns 29,127 shares in the company, valued at $4,691,777.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 439,500 shares of company stock worth $70,392,703. 5.50% of the stock is currently owned by insiders.

NYSE:CRM opened at $158.07 on Thursday. salesforce.com, inc. has a 1-year low of $113.60 and a 1-year high of $167.56. 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 firm has a market capitalization of $118.04 billion, a P/E ratio of 109.01, a PEG ratio of 5.65 and a beta of 1.37.

salesforce.com (NYSE:CRM) last posted its quarterly earnings data on Monday, March 4th. The CRM provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. salesforce.com had a net margin of 8.36% and a return on equity of 8.42%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the firm posted $0.35 EPS. Analysts forecast that salesforce.com, inc. will post 1.18 earnings per share for the current fiscal year.

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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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