Harding Loevner Lp Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : Harding Loevner Lp reduced its stake in salesforce.com by 0.24% during the most recent quarter end. The investment management company now holds a total of 1,633,879 shares of salesforce.com which is valued at $133,373,543 after selling 3,971 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.salesforce.com makes up approximately 1.00% of Harding Loevner Lp’s portfolio.

Other Hedge Funds, Including , Foundry Partners sold out all of its stake in CRM during the most recent quarter. The investment firm sold 99,951 shares of CRM which is valued $8,129,015. Douglass Winthrop Advisors sold out all of its stake in CRM during the most recent quarter. The investment firm sold 4,705 shares of CRM which is valued $382,658.Raymond James Trust N.a. boosted its stake in CRM in the latest quarter, The investment management firm added 374 additional shares and now holds a total of 9,297 shares of salesforce.com which is valued at $752,034. salesforce.com makes up approx 0.06% of Raymond James Trust N.a.’s portfolio.

salesforce.com opened for trading at $81.51 and hit $82.07 on the upside on Monday, eventually ending the session at $81.63, with a gain of 0.28% or 0.23 points. The heightened volatility saw the trading volume jump to 21,77,343 shares. Company has a market cap of $55,304 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. BMO Capital Markets Initiated salesforce.com on Jun 15, 2016 to “Outperform”, Price Target of the shares are set at $98.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 .

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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