Park Avenue Institutional Advisers buys $325,132 stake in salesforce.com (CRM)

salesforce.com (CRM) : Park Avenue Institutional Advisers scooped up 51 additional shares in salesforce.com during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,983 shares of salesforce.com which is valued at $325,132.salesforce.com makes up approximately 0.27% of Park Avenue Institutional Advisers’s portfolio.

Other Hedge Funds, Including , Veritable boosted its stake in CRM in the latest quarter, The investment management firm added 1,737 additional shares and now holds a total of 15,295 shares of salesforce.com which is valued at $1,248,531. salesforce.com makes up approx 0.03% of Veritable’s portfolio.1832 Asset Management reduced its stake in CRM by selling 224,000 shares or 12.25% in the most recent quarter. The Hedge Fund company now holds 1,605,100 shares of CRM which is valued at $131,024,313. salesforce.com makes up approx 0.49% of 1832 Asset Management’s portfolio.Winslow Capital Management reduced its stake in CRM by selling 1,013,209 shares or 15.52% in the most recent quarter. The Hedge Fund company now holds 5,516,632 shares of CRM which is valued at $450,322,670. salesforce.com makes up approx 1.73% of Winslow Capital Management’s portfolio. Cibc World Markets Corp added CRM to its portfolio by purchasing 495,219 company shares during the most recent quarter which is valued at $40,424,727. salesforce.com makes up approx 1.30% of Cibc World Markets Corp’s portfolio.

salesforce.com closed down -0.41 points or -0.54% at $75.01 with 5,566,833 shares getting traded on Wednesday. Post opening the session at $75.07, the shares hit an intraday low of $74.58 and an intraday high of $75.61 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, salesforce.com reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 31, 2016. Analyst had a consensus of $0.22. The company had revenue of $2037.00 million for the quarter, compared to analysts expectations of $2019.61 million. The company’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on salesforce.com. Shares were Reiterated by Mizuho on Sep 1, 2016 to “Buy” and Lowered the Price Target to $ 85 from a previous price target of $100 .Shares were Reiterated by BMO Capital Markets on Sep 1, 2016 to “Outperform” and Lowered the Price Target to $ 86 from a previous price target of $98 .Shares were Reiterated by RBC Capital Mkts on Sep 1, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $91 .

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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