Agf Investments Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : Agf Investments reduced its stake in salesforce.com by 2.32% during the most recent quarter end. The investment management company now holds a total of 1,083,620 shares of salesforce.com which is valued at $87,133,884 after selling 25,747 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.salesforce.com makes up approximately 0.95% of Agf Investments’s portfolio.

Other Hedge Funds, Including , Riverbridge Partners reduced its stake in CRM by selling 4,559 shares or 1.85% in the most recent quarter. The Hedge Fund company now holds 241,778 shares of CRM which is valued at $19,441,369. salesforce.com makes up approx 0.39% of Riverbridge Partners’s portfolio.Agran Libbie boosted its stake in CRM in the latest quarter, The investment management firm added 710 additional shares and now holds a total of 3,685 shares of salesforce.com which is valued at $300,328. salesforce.com makes up approx 0.07% of Agran Libbie’s portfolio.Seaward Management Limited Partnership boosted its stake in CRM in the latest quarter, The investment management firm added 3,344 additional shares and now holds a total of 410,748 shares of salesforce.com which is valued at $33,475,962. salesforce.com makes up approx 1.77% of Seaward Management Limited Partnership’s portfolio.Checchi Capital Advisers boosted its stake in CRM in the latest quarter, The investment management firm added 159 additional shares and now holds a total of 4,244 shares of salesforce.com which is valued at $350,342. salesforce.com makes up approx 0.09% of Checchi Capital Advisers’s portfolio.

salesforce.com opened for trading at $80.54 and hit $81.12 on the upside on Thursday, eventually ending the session at $80.56, with a gain of 0.19% or 0.15 points. The heightened volatility saw the trading volume jump to 24,67,448 shares. Company has a market cap of $54,579 M.

On the company’s financial health, salesforce.com reported $0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.23. The company had revenue of $1.92 million for the quarter, compared to analysts expectations of $1892.96 million. The company’s revenue was down -99.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on salesforce.com. BMO Capital Markets Initiated salesforce.com on Jun 15, 2016 to “Outperform”, Price Target of the shares are set at $98.Company shares were Reiterated by Mizuho on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $90 .Company shares were Reiterated by Wunderlich on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 101 from a previous price target of $93 .

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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