Callidus Software, Inc. (CALD) Downgraded to “Buy” at BidaskClub
Callidus Software, Inc. (NASDAQ:CALD) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other research firms also recently commented on CALD. Piper Jaffray Companies set a $27.00 price objective on Callidus Software and gave the stock a “buy” rating in a research note on Saturday, August 5th. B. Riley reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Callidus Software in a research note on Wednesday. Jefferies Group LLC assumed coverage on Callidus Software in a research note on Wednesday, July 26th. They issued a “buy” rating and a $29.00 price objective on the stock. ValuEngine raised Callidus Software from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. raised their price objective on Callidus Software to $30.00 and gave the stock an “outperform” rating in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $25.13.
Shares of Callidus Software (NASDAQ:CALD) traded down 0.108% during midday trading on Friday, reaching $23.225. The company had a trading volume of 58,180 shares. The company has a 50 day moving average of $24.00 and a 200 day moving average of $21.46. The firm’s market capitalization is $1.57 billion. Callidus Software has a 12-month low of $15.15 and a 12-month high of $25.90.
Callidus Software (NASDAQ:CALD) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.06 by $0.13. Callidus Software had a negative return on equity of 6.25% and a negative net margin of 10.08%. 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 business earned $0.06 EPS. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. Analysts anticipate that Callidus Software will post $0.33 EPS for the current year.
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In related news, insider Leslie Stretch sold 50,717 shares of Callidus Software stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $23.12, for a total transaction of $1,172,577.04. Following the sale, the insider now owns 496,128 shares of the company’s stock, valued at approximately $11,470,479.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jimmy C. Duan sold 14,863 shares of Callidus Software stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $25.18, for a total value of $374,250.34. Following the sale, the executive vice president now directly owns 322,236 shares in the company, valued at approximately $8,113,902.48. The disclosure for this sale can be found here. Insiders have sold a total of 221,776 shares of company stock worth $5,417,341 in the last three months. 1.61% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CALD. Ameritas Investment Partners Inc. acquired a new stake in shares of Callidus Software during the first quarter valued at about $103,000. JPMorgan Chase & Co. increased its stake in shares of Callidus Software by 10.4% in the second quarter. JPMorgan Chase & Co. now owns 5,229 shares of the technology company’s stock valued at $127,000 after buying an additional 492 shares during the period. US Bancorp DE increased its stake in shares of Callidus Software by 13.3% in the first quarter. US Bancorp DE now owns 6,690 shares of the technology company’s stock valued at $142,000 after buying an additional 784 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Callidus Software during the first quarter valued at about $146,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Callidus Software by 1,877.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,060 shares of the technology company’s stock valued at $171,000 after buying an additional 6,703 shares during the period. 99.77% of the stock is currently owned by 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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