Parker Investment Management Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : Parker Investment Management reduced its stake in salesforce.com by 0.1% during the most recent quarter end. The investment management company now holds a total of 8,046 shares of salesforce.com which is valued at $597,576 after selling 8 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.salesforce.com makes up approximately 0.22% of Parker Investment Management’s portfolio.

Other Hedge Funds, Including , Chesley Taft Associates boosted its stake in CRM in the latest quarter, The investment management firm added 1,920 additional shares and now holds a total of 68,869 shares of salesforce.com which is valued at $5,114,901. salesforce.com makes up approx 0.53% of Chesley Taft Associates’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. Osborn Rohs Williams Donohoe Ltd sold out all of its stake in CRM during the most recent quarter. The investment firm sold 2,600 shares of CRM which is valued $188,292.Cullinan Associates Inc boosted its stake in CRM in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 25,790 shares of salesforce.com which is valued at $1,764,552. salesforce.com makes up approx 0.15% of Cullinan Associates Inc’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.

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