First Mercantile Trust Co Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : First Mercantile Trust Co reduced its stake in salesforce.com by 12.24% during the most recent quarter end. The investment management company now holds a total of 15,244 shares of salesforce.com which is valued at $1,080,952 after selling 2,127 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.salesforce.com makes up approximately 0.15% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network reduced its stake in CRM by selling 687 shares or 31.14% in the most recent quarter. The Hedge Fund company now holds 1,519 shares of CRM which is valued at $107,712. salesforce.com makes up approx 0.02% of Advisory Services Network’s portfolio.Boltwood Capital Management boosted its stake in CRM in the latest quarter, The investment management firm added 460 additional shares and now holds a total of 11,345 shares of salesforce.com which is valued at $776,225. salesforce.com makes up approx 0.62% of Boltwood Capital Management’s portfolio.First American Trust Fsb reduced its stake in CRM by selling 18,795 shares or 81.5% in the most recent quarter. The Hedge Fund company now holds 4,266 shares of CRM which is valued at $291,880. salesforce.com makes up approx 0.09% of First American Trust Fsb’s portfolio.Harbour Capital Advisors boosted its stake in CRM in the latest quarter, The investment management firm added 1,700 additional shares and now holds a total of 10,330 shares of salesforce.com which is valued at $706,779. salesforce.com makes up approx 0.38% of Harbour Capital Advisors’s portfolio.

salesforce.com closed down -0.35 points or -0.49% at $70.91 with 67,07,404 shares getting traded on Friday. Post opening the session at $71.25, the shares hit an intraday low of $70.21 and an intraday high of $71.43 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 $ 0.02 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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