Salesforce, Inc. (NYSE:CRM) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 282,483 shares of the CRM provider’s stock after selling 2,487 shares during the period. Calamos Advisors LLC’s holdings in Salesforce were worth $74,333,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. lifted its stake in shares of Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after purchasing an additional 357 shares during the period. Roundview Capital LLC lifted its stake in shares of Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after purchasing an additional 3,809 shares during the period. Covestor Ltd lifted its stake in shares of Salesforce by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after purchasing an additional 186 shares during the period. Ergoteles LLC acquired a new stake in shares of Salesforce in the first quarter valued at about $455,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Salesforce by 21.3% in the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after purchasing an additional 151,440 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 1.6 %

Shares of NYSE CRM traded down $4.40 during trading on Thursday, reaching $271.92. 5,746,552 shares of the stock were exchanged, compared to its average volume of 5,707,277. The business’s 50-day moving average price is $298.10 and its 200 day moving average price is $260.89. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $263.76 billion, a price-to-earnings ratio of 64.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s dividend payout ratio is presently 9.52%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 293,965 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The disclosure for this sale can be found here. Insiders have sold 907,149 shares of company stock valued at $262,952,448 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CRM. UBS Group raised their price objective on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Truist Financial restated a “buy” rating and set a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, Oppenheimer lifted their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

About Salesforce

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.