Callidus Software, Inc. (NASDAQ:CALD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, October 17th.
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. “
Other equities analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $30.00 price target on shares of Callidus Software in a research report on Monday, September 18th. Piper Jaffray Companies set a $27.00 price objective on Callidus Software and gave the company a “buy” rating in a report on Saturday, August 5th. B. Riley reissued a “buy” rating and issued a $28.00 price objective on shares of Callidus Software in a report on Wednesday, August 9th. Jefferies Group LLC initiated coverage on Callidus Software in a report on Wednesday, July 26th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, BidaskClub raised Callidus Software from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Callidus Software presently has a consensus rating of “Buy” and an average price target of $28.29.
Shares of Callidus Software (CALD) traded up $0.10 during trading hours on Tuesday, reaching $28.70. The company’s stock had a trading volume of 737,256 shares, compared to its average volume of 231,461. Callidus Software has a 12-month low of $15.15 and a 12-month high of $28.75.
Callidus Software (NASDAQ:CALD) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.13). Callidus Software had a negative net margin of 9.54% and a negative return on equity of 5.71%. The company had revenue of $61.30 million during the quarter, compared to the consensus estimate of $58.95 million. During the same period last year, the company earned $0.06 earnings per share. The business’s revenue was up 23.1% compared to the same quarter last year. equities analysts anticipate that Callidus Software will post -0.21 earnings per share for the current fiscal year.
In related news, insider Leslie Stretch sold 37,187 shares of Callidus Software stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $24.30, for a total value of $903,644.10. Following the transaction, the insider now directly owns 349,145 shares of the company’s stock, valued at $8,484,223.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Roxanne Oulman sold 5,500 shares of Callidus Software stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $23.89, for a total value of $131,395.00. Following the completion of the sale, the chief financial officer now owns 159,201 shares of the company’s stock, valued at $3,803,311.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,687 shares of company stock worth $1,257,789. 1.61% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of Callidus Software by 43.3% during the third quarter. Sei Investments Co. now owns 22,346 shares of the technology company’s stock valued at $551,000 after acquiring an additional 6,748 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Callidus Software by 0.5% during the third quarter. Jennison Associates LLC now owns 982,133 shares of the technology company’s stock valued at $24,210,000 after acquiring an additional 5,209 shares in the last quarter. Swiss National Bank increased its holdings in shares of Callidus Software by 3.7% during the third quarter. Swiss National Bank now owns 108,500 shares of the technology company’s stock valued at $2,675,000 after acquiring an additional 3,900 shares in the last quarter. American Century Companies Inc. grew its holdings in Callidus Software by 0.8% during the third quarter. American Century Companies Inc. now owns 343,978 shares of the technology company’s stock worth $8,479,000 after buying an additional 2,850 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Callidus Software by 8.3% in the third quarter. Public Employees Retirement Association of Colorado now owns 578,600 shares of the technology company’s stock worth $14,262,000 after purchasing an additional 44,400 shares during the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.
About Callidus Software
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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