Mackay Shields raised its position in shares of salesforce.com, inc. (NYSE:CRM) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The hedge fund owned 23,230,000 shares of the CRM provider’s stock after buying an additional 217,000 shares during the period. salesforce.com, inc. comprises approximately 1.6% of Mackay Shields’ investment portfolio, making the stock its 20th largest position. Mackay Shields’ holdings in salesforce.com, inc. were worth $29,926,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services boosted its stake in salesforce.com, inc. by 20.7% in the fourth quarter. Commonwealth Equity Services now owns 24,709 shares of the CRM provider’s stock valued at $1,937,000 after buying an additional 4,242 shares during the period. Chevy Chase Trust Holdings boosted its stake in salesforce.com, inc. by 1.2% in the fourth quarter. Chevy Chase Trust Holdings now owns 516,415 shares of the CRM provider’s stock valued at $40,487,000 after buying an additional 6,324 shares during the period. Juncture Wealth Strategies boosted its stake in salesforce.com, inc. by 7.9% in the fourth quarter. Juncture Wealth Strategies now owns 14,503 shares of the CRM provider’s stock valued at $1,137,000 after buying an additional 1,068 shares during the period. BB&T Securities boosted its stake in salesforce.com, inc. by 101.2% in the fourth quarter. BB&T Securities now owns 44,318 shares of the CRM provider’s stock valued at $3,474,000 after buying an additional 22,294 shares during the period. Finally, Pennsylvania Trust Company boosted its stake in salesforce.com, inc. by 2,015.0% in the fourth quarter. Pennsylvania Trust Company now owns 76,563 shares of the CRM provider’s stock valued at $6,003,000 after buying an additional 72,943 shares during the period.

Shares of salesforce.com, inc. (NYSE:CRM) opened at 71.55 on Friday. salesforce.com, inc. has a 12-month low of $55.45 and a 12-month high of $82.90. The firm has a 50-day moving average price of $76.32 and a 200 day moving average price of $74.45. The stock’s market cap is $47.51 billion.

salesforce.com, inc. (NYSE:CRM) last announced its quarterly earnings data on Wednesday, November 18th. The CRM provider reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business earned $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. salesforce.com, inc.’s revenue was up 23.7% on a year-over-year basis. Equities research analysts expect that salesforce.com, inc. will post $0.75 earnings per share for the current year.

CRM has been the topic of several research reports. Evercore ISI boosted their price target on salesforce.com, inc. from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 11th. Nomura lifted their price objective on salesforce.com, inc. from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 10th. Zacks Investment Research raised salesforce.com, inc. from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Monday, October 26th. Vetr raised salesforce.com, inc. from a “hold” rating to a “buy” rating and set a $81.17 price objective on the stock in a research note on Tuesday, October 20th. Finally, Lake Street Capital started coverage on salesforce.com, inc. in a research note on Monday, November 9th. They issued a “buy” rating and a $95.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $87.49.

In other news, CAO Joe Allanson sold 1,382 shares of the business’s stock in a transaction dated Friday, November 27th. The stock was sold at an average price of $79.85, for a total value of $110,352.70. Following the transaction, the chief accounting officer now directly owns 18,361 shares in the company, valued at $1,466,125.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark J. Hawkins sold 8,624 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $78.53, for a total value of $677,242.72. Following the completion of the transaction, the chief financial officer now owns 4,467 shares in the company, valued at $350,793.51. The disclosure for this sale can be found here.

salesforce.com, inc. is a provider of enterprise cloud computing solutions that include apps and platform services, as well as professional services. The Company focuses on customer relationship management (NYSE:CRM). The Company offers six core cloud services that include sales force automation, customer service and support, marketing automation, community management, analytics and a cloud platform for building custom applications. The Company offers consulting, deployment, training, implementation and integration services to its customers to facilitate the adoption of its cloud solutions. The Company delivers its solutions as a service through all the Internet browsers and on mobile devices, on a subscription basis, primarily through its direct sales efforts and indirectly through partners.

12 Month Chart for NYSE:CRM

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