Marsico Capital Management Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : Marsico Capital Management reduced its stake in salesforce.com by 43.97% during the most recent quarter end. The investment management company now holds a total of 1,655,952 shares of salesforce.com which is valued at $126.5 Million after selling 1,299,496 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on May 13, 2016.salesforce.com makes up approximately 3.76% of Marsico Capital Management’s portfolio.

Other Hedge Funds, Including , Alliancebernstein reduced its stake in CRM by selling 50,448 shares or 2.72% in the most recent quarter. The Hedge Fund company now holds 1,805,048 shares of CRM which is valued at $137.9 Million. salesforce.com makes up approx 0.12% of Alliancebernstein’s portfolio.Park Avenue Institutional Advisers reduced its stake in CRM by selling 116 shares or 2.87% in the most recent quarter. The Hedge Fund company now holds 3,932 shares of CRM which is valued at $300,287. salesforce.com makes up approx 0.26% of Park Avenue Institutional Advisers’s portfolio.A.r. Schmeidler boosted its stake in CRM in the latest quarter, The investment management firm added 55,143 additional shares and now holds a total of 99,181 shares of salesforce.com which is valued at $7.6 Million. salesforce.com makes up approx 1.78% of A.r. Schmeidler’s portfolio. Northern Capital Management added CRM to its portfolio by purchasing 6,050 company shares during the most recent quarter which is valued at $449,213. salesforce.com makes up approx 0.20% of Northern Capital Management’s portfolio.Bronfman E.l. Rothschild reduced its stake in CRM by selling 206 shares or 2.55% in the most recent quarter. The Hedge Fund company now holds 7,887 shares of CRM which is valued at $585,610. salesforce.com makes up approx 0.10% of Bronfman E.l. Rothschild’s portfolio.

salesforce.com opened for trading at $83 and hit $83.95 on the upside on Wednesday, eventually ending the session at $83.57, with a gain of 0.99% or 0.82 points. The heightened volatility saw the trading volume jump to 49,32,986 shares. Company has a market cap of $56,619 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 Mizuho on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $90 .Company shares were Reiterated by Wunderlich on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 101 from a previous price target of $93 .Company shares were Reiterated by Stifel on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 93 from a previous price target of $85 .

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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