Callidus Software, Inc. (NASDAQ:CALD) Given a $27.00 Price Target by Piper Jaffray Companies Analysts
Piper Jaffray Companies set a $27.00 price objective on Callidus Software, Inc. (NASDAQ:CALD) in a research report report published on Saturday morning. The firm currently has a buy rating on the technology company’s stock.
Other equities analysts also recently issued reports about the company. B. Riley reaffirmed a buy rating and set a $24.50 price target on shares of Callidus Software in a research report on Friday, May 5th. Jefferies Group LLC started coverage on Callidus Software in a research report on Wednesday, July 26th. They set a buy rating and a $29.00 price target on the stock. ValuEngine raised Callidus Software from a sell rating to a hold rating in a research report on Thursday. Dougherty & Co raised Callidus Software from a sell rating to a neutral rating in a research report on Monday, May 15th. Finally, William Blair reaffirmed an outperform rating on shares of Callidus Software in a research report on Wednesday, April 12th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $24.67.
Shares of Callidus Software (NASDAQ:CALD) traded up 2.88% during mid-day trading on Friday, reaching $25.00. The company’s stock had a trading volume of 487,761 shares. The firm’s market cap is $1.62 billion. Callidus Software has a one year low of $15.15 and a one year high of $25.90. The firm’s 50 day moving average is $23.60 and its 200 day moving average is $21.20.
Callidus Software (NASDAQ:CALD) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $0.13. The business had revenue of $61.30 million for the quarter, compared to analyst estimates of $58.95 million. Callidus Software had a negative return on equity of 6.28% and a negative net margin of 10.08%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. On average, equities analysts anticipate that Callidus Software will post $0.31 earnings per share for the current fiscal year.
In related news, insider Leslie Stretch sold 104,509 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $25.00, for a total value of $2,612,725.00. Following the transaction, the insider now directly owns 324,145 shares of the company’s stock, valued at approximately $8,103,625. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jimmy C. Duan sold 15,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $21.29, for a total value of $319,350.00. Following the completion of the transaction, the executive vice president now directly owns 344,260 shares in the company, valued at $7,329,295.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,226 shares of company stock worth $4,104,652. 1.61% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC increased its position in Callidus Software by 52.0% in the first quarter. Hood River Capital Management LLC now owns 1,505,753 shares of the technology company’s stock valued at $32,148,000 after buying an additional 515,283 shares during the last quarter. FMR LLC increased its position in Callidus Software by 5.5% in the first quarter. FMR LLC now owns 5,476,288 shares of the technology company’s stock valued at $116,919,000 after buying an additional 283,900 shares during the last quarter. Pier Capital LLC purchased a new position in Callidus Software during the first quarter valued at about $5,963,000. MARSHALL WACE ASIA Ltd purchased a new position in Callidus Software during the first quarter valued at about $5,421,000. Finally, Marshall Wace North America L.P. purchased a new position in Callidus Software during the first quarter valued at about $5,421,000. 99.77% of the stock is currently owned by hedge funds and other institutional investors.
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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