salesforce.com (CRM) : Marvin Palmer Associates Inc added new position in salesforce.com during the most recent quarter end. The investment management firm now holds 25,700 shares of salesforce.com which is valued at $2 Million , the company said in a statement filed on May 11, 2016 with the SEC.salesforce.com makes up approximately 2.28% of Marvin Palmer Associates Inc’s portfolio.
Other Hedge Funds, Including , Sumitomo Mitsui Asset Management Company Ltd boosted its stake in CRM in the latest quarter, The investment management firm added 113,907 additional shares and now holds a total of 204,055 shares of salesforce.com which is valued at $15.6 Million. salesforce.com makes up approx 0.48% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Advantus Capital Management Inc boosted its stake in CRM in the latest quarter, The investment management firm added 1,132 additional shares and now holds a total of 61,769 shares of salesforce.com which is valued at $4.7 Million. salesforce.com makes up approx 0.14% of Advantus Capital Management Inc’s portfolio. Puplava Financial Services sold out all of its stake in CRM during the most recent quarter. The investment firm sold 37,822 shares of CRM which is valued $2.9 Million.Andra Ap-fonden reduced its stake in CRM by selling 3,200 shares or 8.91% in the most recent quarter. The Hedge Fund company now holds 32,700 shares of CRM which is valued at $2.4 Million. salesforce.com makes up approx 0.06% of Andra Ap-fonden’s portfolio.Jennison Associates boosted its stake in CRM in the latest quarter, The investment management firm added 15,696 additional shares and now holds a total of 19,925,676 shares of salesforce.com which is valued at $1,479.5 Million. salesforce.com makes up approx 1.57% of Jennison Associates’s portfolio.
salesforce.com opened for trading at $76.67 and hit $77.69 on the upside on Monday, eventually ending the session at $77.31, with a gain of 1.23% or 0.94 points. The heightened volatility saw the trading volume jump to 41,41,822 shares. Company has a market cap of $51,867 M.
On the company’s financial health, salesforce.com reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.23. The company had revenue of $1.92 million for the quarter, compared to analysts expectations of $1892.96 million. The company’s revenue was down -99.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.
Many Wall Street Analysts have commented on salesforce.com. Company shares were Reiterated by Jefferies on May 17, 2016 to “Hold”, Firm has raised the Price Target to $ 74 from a previous price target of $60 .Company shares were Reiterated by Barclays on May 12, 2016 to “Overweight”, Firm has raised the Price Target to $ 88 from a previous price target of $72 .salesforce.com was Initiated by Macquarie to “Outperform” on Mar 4, 2016.
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 (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.