Try this piece and see if it works for you:
$date = new DateTime(20140327163000);
var_dump($date->format('d/m/Y H:i:s'));
EDIT:
So, instead of the value 20140327163000 use a variable that holds the value you want to save (and don't use var_dump of course) - this was just to present that this piece of code would parse the value given to the string formatted as you want.
$date = new DateTime($yourValue);
$dateToSave = $date->format('d/m/Y H:i:s');