Callidus Software Inc. (NASDAQ:CALD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Callidus Software provides Enterprise Incentive Management software that enables large businesses to plan, model and manage pay-for-performance compensation programs designed to align employee, sales and channel tactics with targeted business objectives. “
Several other research analysts have also recently issued reports on the company. Dougherty & Co cut Callidus Software from a “neutral” rating to a “sell” rating and set a $15.00 target price on the stock. in a research report on Monday, September 19th. Credit Suisse Group AG reissued an “outperform” rating and issued a $22.00 target price on shares of Callidus Software in a research report on Monday, September 19th. B. Riley reissued a “buy” rating and issued a $21.00 target price on shares of Callidus Software in a research report on Tuesday, August 9th. Piper Jaffray Cos. reissued an “overweight” rating on shares of Callidus Software in a research report on Thursday, August 4th. Finally, Roth Capital reissued a “buy” rating on shares of Callidus Software in a research report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Callidus Software currently has a consensus rating of “Buy” and a consensus price target of $21.11.
Shares of Callidus Software (NASDAQ:CALD) traded down 0.77% during midday trading on Tuesday, hitting $18.05. The stock had a trading volume of 416,852 shares. The firm’s market cap is $1.03 billion. The stock’s 50 day moving average price is $19.09 and its 200 day moving average price is $18.59. Callidus Software has a 12 month low of $11.48 and a 12 month high of $21.64.
Callidus Software (NASDAQ:CALD) last announced its earnings results on Tuesday, August 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $49.80 million for the quarter, compared to analysts’ expectations of $50.32 million. Callidus Software had a negative return on equity of 6.53% and a negative net margin of 7.69%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. On average, equities analysts forecast that Callidus Software will post $0.27 EPS for the current fiscal year.
In related news, CFO Bob L. Corey sold 13,115 shares of Callidus Software stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $19.41, for a total transaction of $254,562.15. Following the sale, the chief financial officer now owns 194,412 shares of the company’s stock, valued at approximately $3,773,536.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leslie Stretch sold 37,500 shares of Callidus Software stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $19.21, for a total value of $720,375.00. Following the sale, the insider now directly owns 511,670 shares in the company, valued at approximately $9,829,180.70. The disclosure for this sale can be found here. Corporate insiders own 3.23% of the company’s stock.
A number of hedge funds have recently modified their holdings of CALD. Franklin Resources Inc. increased its stake in shares of Callidus Software by 7.7% in the first quarter. Franklin Resources Inc. now owns 3,043,910 shares of the company’s stock valued at $50,773,000 after buying an additional 217,346 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Callidus Software by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,488,416 shares of the company’s stock worth $24,827,000 after buying an additional 32,784 shares during the last quarter. Palisade Capital Management LLC NJ increased its stake in Callidus Software by 124.2% in the first quarter. Palisade Capital Management LLC NJ now owns 153,750 shares of the company’s stock worth $2,565,000 after buying an additional 85,170 shares during the last quarter. Menta Capital LLC purchased a new stake in Callidus Software during the first quarter worth about $186,000. Finally, Tiverton Asset Management LLC purchased a new stake in Callidus Software during the first quarter worth about $1,500,000. 90.06% of the stock is currently owned by institutional investors.
Callidus Software Company Profile
Callidus Software Inc (Callidus) is a provider of cloud-based sales, marketing, learning and customer experience solutions. The Company’s CallidusCloud enables its customers to manage their Lead to Money process with a suite of solutions that identify leads, implement territory and quota plans, enable sales forces, automate bid configuration pricing and quoting, manage contracts, streamline sales compensation and capture customer feedback, among others.
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