Maryland Capital Management Purchases 8,123 Shares of salesforce.com, inc. (NYSE:CRM)

Maryland Capital Management grew its position in shares of salesforce.com, inc. (NYSE:CRM) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,023 shares of the CRM provider’s stock after acquiring an additional 8,123 shares during the period. salesforce.com comprises 1.7% of Maryland Capital Management’s portfolio, making the stock its 20th largest position. Maryland Capital Management’s holdings in salesforce.com were worth $14,099,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Avondale Wealth Management grew its holdings in salesforce.com by 100.0% in 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 during the period. Citizens Financial Group Inc RI purchased a new stake in salesforce.com in the first quarter worth about $27,000. Arcadia Investment Management Corp MI grew its holdings in salesforce.com by 63.0% in 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 during the period. CX Institutional grew its holdings in salesforce.com by 426.5% in the first quarter. CX Institutional now owns 179 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 145 shares during the period. Finally, Brand Asset Management Group Inc. purchased a new stake in salesforce.com in the first quarter worth about $30,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

In other news, CAO Joe Allanson sold 168 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $153.88, for a total transaction of $25,851.84. Following the sale, the chief accounting officer now directly owns 30,641 shares in the company, valued at approximately $4,715,037.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy E. Weaver sold 6,409 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $159.81, for a total transaction of $1,024,222.29. Following the transaction, the insider now directly owns 32,010 shares of the company’s stock, valued at $5,115,518.10. The disclosure for this sale can be found here. Insiders have sold a total of 395,167 shares of company stock worth $62,110,903 over the last 90 days. Insiders own 5.50% of the company’s stock.

CRM has been the topic of a number of recent research reports. Goldman Sachs Group restated a “buy” rating and issued a $178.00 price objective on shares of salesforce.com in a report on Monday, March 4th. JPMorgan Chase & Co. upped 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. BMO Capital Markets restated an “outperform” rating and issued a $185.00 price objective (up previously from $175.00) on shares of salesforce.com in a report on Tuesday, March 5th. Wedbush upped their price objective on shares of salesforce.com from $174.00 to $192.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Finally, Barclays upped 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. Four analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. salesforce.com presently has an average rating of “Buy” and an average target price of $179.97.

Shares of CRM stock opened at $151.73 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. salesforce.com, inc. has a 12-month low of $113.60 and a 12-month high of $167.56. The stock has a market capitalization of $116.55 billion, a PE ratio of 104.64, a P/E/G ratio of 5.52 and a beta of 1.39. The stock has a 50 day moving average of $154.25.

salesforce.com (NYSE:CRM) last released its quarterly earnings results on Tuesday, June 4th. The CRM provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.32. salesforce.com had a net margin of 8.26% and a return on equity of 8.18%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s quarterly revenue was up 24.3% on a year-over-year basis. On average, analysts predict that salesforce.com, inc. will post 1.25 EPS for the current year.

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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