Terra Nova Asset Management Lowers stake in salesforce.com (CRM)

salesforce.com (CRM) : Terra Nova Asset Management reduced its stake in salesforce.com by 3.83% during the most recent quarter end. The investment management company now holds a total of 10,672 shares of salesforce.com which is valued at $772,866 after selling 425 shares in salesforce.com , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.salesforce.com makes up approximately 1.72% of Terra Nova Asset Management’s portfolio.

Other Hedge Funds, Including , 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.Gradient Investments reduced its stake in CRM by selling 24 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 4,585 shares of CRM which is valued at $344,334. salesforce.com makes up approx 0.03% of Gradient Investments’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. West Oak Capital added CRM to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $13,684. salesforce.com makes up approx 0.01% of West Oak Capital’s portfolio.

salesforce.com closed down -2.68 points or -3.57% at $72.42 with 1,64,25,353 shares getting traded on Tuesday. Post opening the session at $73.9, the shares hit an intraday low of $71.55 and an intraday high of $73.92 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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