Telemark Asset Management adds salesforce.com (CRM) to its portfolio

salesforce.com (CRM) : Telemark Asset Management added new position in salesforce.com during the most recent quarter end. The investment management firm now holds 200,000 shares of salesforce.com which is valued at $15.3 Million , the company said in a statement filed on May 12, 2016 with the SEC.salesforce.com makes up approximately 3.65% of Telemark Asset Management’s portfolio.

Other Hedge Funds, Including , Scotia Capital boosted its stake in CRM in the latest quarter, The investment management firm added 4,707 additional shares and now holds a total of 20,516 shares of salesforce.com which is valued at $1.6 Million. salesforce.com makes up approx 0.04% of Scotia Capital’s portfolio.Winslow Capital Management boosted its stake in CRM in the latest quarter, The investment management firm added 108,645 additional shares and now holds a total of 6,529,841 shares of salesforce.com which is valued at $498.7 Million. salesforce.com makes up approx 1.96% of Winslow Capital Management’s portfolio.Proshare Advisors reduced its stake in CRM by selling 29,892 shares or 27.43% in the most recent quarter. The Hedge Fund company now holds 79,082 shares of CRM which is valued at $5.9 Million. salesforce.com makes up approx 0.08% of Proshare Advisors’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in CRM in the latest quarter, The investment management firm added 650 additional shares and now holds a total of 19,360 shares of salesforce.com which is valued at $1.4 Million. salesforce.com makes up approx 0.10% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in CRM in the latest quarter, The investment management firm added 147,479 additional shares and now holds a total of 471,260 shares of salesforce.com which is valued at $35.7 Million. salesforce.com makes up approx 0.29% of Public Employees Retirement Association Of Colorado’s portfolio.

salesforce.com closed down -0.07 points or -0.09% at $81.02 with 50,97,850 shares getting traded on Friday. Post opening the session at $81.6, the shares hit an intraday low of $80.72 and an intraday high of $81.82 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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