Activist investor Elliott Management has backed down on its plans to seek board representation at Salesforce after the cloud-based business software company delivered better than expected fourth-quarter results and pledged to focus on profits.

In a joint statement Monday, Elliott said it would not nominate directors to Salesforce’s board this year, citing the company’s recently revealed strategy that prioritizes profitability and shareholder value creation.

Earlier in March, Salesforce posted better than expected revenue and adjusted operating profit for the fiscal fourth quarter ended January in an earnings report that also announced a doubling of the company’s share buyback plan to $20 billion.

Elliott Managing Partner Jesse Cohn said on Monday that he was “deeply impressed” by Salesforce’s “commitment to profitable growth, responsible capital return, and an ambitious shareholder value creation plan.”

“I have thoroughly enjoyed getting to know Jesse and the Elliott team over the last few months, and I am grateful for Jesse’s mindful and constructive ideas,’’ commented Salesforce boss Marc Benioff in the same press release.

Elliott’s move represents a rare and somewhat unexpected retreat for the activist. Earlier this month, Elliott reacted to Salesforce’s earnings beat by saying that the company ‘‘needs a sustainable leadership plan and a board that demonstrates it can provide accountability through proper oversight.’’

Salesforce has been under pressure from several other activists in recent months, including Starboard Value and ValueAct Capital. At a conference in October, Starboard’s Jeff Smith praised Salesforce as a “high-quality” and “sticky” business but said the company should increase its margins to close the valuation discount to peers such as Microsoft and Adobe.

The customer relationship management software provider gave ValueAct a director seat earlier this year as part of a wider board refreshment. Shortly after that, rumors surfaced that Third Point Partners had built a position in Salesforce, becoming the fifth activist investor to buy into the company.