Webster Bank N. A. buys $2,161,406 stake in salesforce.com (CRM)

salesforce.com (CRM) : Webster Bank N. A. scooped up 1,555 additional shares in salesforce.com during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 29,102 shares of salesforce.com which is valued at $2,161,406.salesforce.com makes up approximately 0.32% of Webster Bank N. A.’s portfolio.

Other Hedge Funds, Including , Pennsylvania Trust Co reduced its stake in CRM by selling 9,118 shares or 19.63% in the most recent quarter. The Hedge Fund company now holds 37,336 shares of CRM which is valued at $2,772,945. salesforce.com makes up approx 0.23% of Pennsylvania Trust Co’s portfolio. Morgens Waterfall Vintiadis Co Inc sold out all of its stake in CRM during the most recent quarter. The investment firm sold 16,000 shares of CRM which is valued $1,158,720.Atria Investments boosted its stake in CRM in the latest quarter, The investment management firm added 742 additional shares and now holds a total of 6,133 shares of salesforce.com which is valued at $444,152. salesforce.com makes up approx 0.04% of Atria Investments’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.British Columbia Investment Management Corp reduced its stake in CRM by selling 26,074 shares or 5.98% in the most recent quarter. The Hedge Fund company now holds 410,042 shares of CRM which is valued at $29,695,242. salesforce.com makes up approx 0.30% of British Columbia Investment Management Corp’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. 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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