Gemmer Asset Management Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : Gemmer Asset Management reduced its stake in salesforce.com by 0.37% during the most recent quarter end. The investment management company now holds a total of 16,817 shares of salesforce.com which is valued at $1,248,999 after selling 63 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.salesforce.com makes up approximately 0.65% of Gemmer Asset Management’s portfolio.

Other Hedge Funds, Including , Eastern Bank reduced its stake in CRM by selling 1,112 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 213,383 shares of CRM which is valued at $15,847,955. salesforce.com makes up approx 1.29% of Eastern Bank’s portfolio.Msi Financial Services Inc reduced its stake in CRM by selling 923 shares or 11.83% in the most recent quarter. The Hedge Fund company now holds 6,876 shares of CRM which is valued at $485,652. salesforce.com makes up approx 0.02% of Msi Financial Services Inc’s portfolio.Grassi Investment Management boosted its stake in CRM in the latest quarter, The investment management firm added 8,250 additional shares and now holds a total of 15,113 shares of salesforce.com which is valued at $1,094,483. salesforce.com makes up approx 0.21% of Grassi Investment Management’s portfolio.Nisa Investment Advisors reduced its stake in CRM by selling 14,903 shares or 8.97% in the most recent quarter. The Hedge Fund company now holds 151,165 shares of CRM which is valued at $10,947,369. salesforce.com makes up approx 0.14% of Nisa Investment Advisors’s portfolio.First Mercantile Trust Co reduced its stake in CRM by selling 2,127 shares or 12.24% in the most recent quarter. The Hedge Fund company now holds 15,244 shares of CRM which is valued at $1,080,952. salesforce.com makes up approx 0.15% of First Mercantile Trust Co’s portfolio.

salesforce.com opened for trading at $70.98 and hit $76.16 on the upside on Friday, eventually ending the session at $74.27, with a gain of 5.15% or 3.64 points. The heightened volatility saw the trading volume jump to 2,50,05,645 shares. Company has a market cap of $50,440 M.

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. Rosenblatt Initiated salesforce.com on Oct 18, 2016 to “Buy”, Price Target of the shares are set at $90.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 .

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.

Leave a Reply

salesforce.com - Is it time to Sell?

Top Brokerage Firms are advising their investors on salesforce.com. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.