Calamos Wealth Management LLC Has $9.23 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

Calamos Wealth Management LLC increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 15.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,408 shares of the CRM provider's stock after purchasing an additional 4,599 shares during the period. Calamos Wealth Management LLC's holdings in Salesforce were worth $9,234,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Calamos Advisors LLC grew its position in shares of Salesforce by 11.2% during the 1st quarter. Calamos Advisors LLC now owns 329,528 shares of the CRM provider's stock worth $88,432,000 after buying an additional 33,180 shares during the period. Cohen Investment Advisors LLC lifted its position in shares of Salesforce by 4.1% during the 1st quarter. Cohen Investment Advisors LLC now owns 11,678 shares of the CRM provider's stock valued at $3,134,000 after acquiring an additional 456 shares during the period. Conning Inc. boosted its stake in Salesforce by 5.7% during the first quarter. Conning Inc. now owns 18,246 shares of the CRM provider's stock worth $4,896,000 after acquiring an additional 985 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in Salesforce by 20.2% in the first quarter. Onyx Bridge Wealth Group LLC now owns 1,189 shares of the CRM provider's stock worth $319,000 after purchasing an additional 200 shares during the period. Finally, Goelzer Investment Management Inc. acquired a new stake in Salesforce in the first quarter worth $2,029,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CRM shares. Jefferies Financial Group dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Canaccord Genuity Group cut their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Wells Fargo & Company raised their price objective on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Finally, UBS Group set a $404.00 target price on Salesforce and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $349.08.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 405 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the sale, the insider owned 9,933 shares of the company's stock, valued at $2,605,922.55. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $272.48, for a total transaction of $613,080.00. Following the completion of the transaction, the chief executive officer directly owned 11,862,457 shares of the company's stock, valued at approximately $3,232,282,283.36. This trade represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,534 shares of company stock worth $7,609,842 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.9%

Shares of CRM stock opened at $271.58 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market cap of $259.63 billion, a P/E ratio of 42.50, a PEG ratio of 2.44 and a beta of 1.36. The company has a 50 day moving average of $272.21 and a 200-day moving average of $292.32. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.44 earnings per share. Sell-side analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

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.

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