Calamos Wealth Management LLC Purchases 26,545 Shares of Salesforce, Inc. (NYSE:CRM)

Calamos Wealth Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 813.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,809 shares of the CRM provider’s stock after acquiring an additional 26,545 shares during the period. Calamos Wealth Management LLC’s holdings in Salesforce were worth $9,966,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Calamos Advisors LLC raised its position in Salesforce by 20.6% in the 4th quarter. Calamos Advisors LLC now owns 296,348 shares of the CRM provider’s stock worth $99,078,000 after purchasing an additional 50,522 shares during the period. Patron Partners LLC grew its stake in shares of Salesforce by 8.1% during the fourth quarter. Patron Partners LLC now owns 1,939 shares of the CRM provider’s stock valued at $648,000 after buying an additional 146 shares during the last quarter. Blodgett Wealth Advisors LLC increased its holdings in shares of Salesforce by 16.2% in the fourth quarter. Blodgett Wealth Advisors LLC now owns 3,052 shares of the CRM provider’s stock worth $1,021,000 after buying an additional 425 shares during the period. Childress Capital Advisors LLC lifted its stake in shares of Salesforce by 6.5% in the 4th quarter. Childress Capital Advisors LLC now owns 2,536 shares of the CRM provider’s stock valued at $848,000 after acquiring an additional 154 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT purchased a new stake in Salesforce during the 4th quarter valued at about $603,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

CRM stock opened at $339.28 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market cap of $324.69 billion, a P/E ratio of 55.80, a price-to-earnings-growth ratio of 3.09 and a beta of 1.30. The stock’s fifty day moving average price is $338.67 and its 200-day moving average price is $297.99.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

A number of brokerages have commented on CRM. Robert W. Baird lifted their price target on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. UBS Group upped their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. Insiders have sold 1,104,699 shares of company stock worth $382,108,847 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.