First Trust Advisors Lp Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : First Trust Advisors Lp reduced its stake in salesforce.com by 28.55% during the most recent quarter end. The investment management company now holds a total of 2,621,179 shares of salesforce.com which is valued at $200,179,440 after selling 1,047,245 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on May 10, 2016.salesforce.com makes up approximately 0.65% of First Trust Advisors Lp’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd boosted its stake in CRM in the latest quarter, The investment management firm added 45,546 additional shares and now holds a total of 4,485,100 shares of salesforce.com which is valued at $342,527,087. salesforce.com makes up approx 0.19% of Blackrock Group Ltd’s portfolio.Los Angeles Capital Management Equity Research Inc reduced its stake in CRM by selling 25,440 shares or 33.62% in the most recent quarter. The Hedge Fund company now holds 50,220 shares of CRM which is valued at $3,728,835. salesforce.com makes up approx 0.03% of Los Angeles Capital Management Equity Research Inc’s portfolio.First Mercantile Trust Co reduced its stake in CRM by selling 2,791 shares or 13.44% in the most recent quarter. The Hedge Fund company now holds 17,982 shares of CRM which is valued at $1,363,036. salesforce.com makes up approx 0.16% of First Mercantile Trust Co’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 $0.19 EPS for the quarter, based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus estimate of $0.19. The company had revenue of $1810.00 million for the quarter, compared to analysts expectations of $1790.68 million. The company’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 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.

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