Callidus Software, Inc. (CALD) PT Raised to $32.00 at Credit Suisse Group

Callidus Software, Inc. (NASDAQ:CALD) had its price target lifted by analysts at Credit Suisse Group from $30.00 to $32.00 in a note issued to investors on Friday. The brokerage currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s price target suggests a potential upside of 12.68% from the company’s current price.

Other analysts have also issued research reports about the stock. B. Riley restated a “buy” rating and set a $28.00 price target on shares of Callidus Software in a research report on Wednesday, September 27th. ValuEngine upgraded shares of Callidus Software from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Jefferies Group LLC assumed coverage on shares of Callidus Software in a report on Wednesday, July 26th. They set a “buy” rating and a $29.00 price objective on the stock. Piper Jaffray Companies set a $27.00 price objective on shares of Callidus Software and gave the company a “buy” rating in a report on Saturday, August 5th. Finally, BidaskClub downgraded shares of Callidus Software from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $28.29.

Callidus Software (NASDAQ:CALD) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.13). The firm had revenue of $61.30 million for the quarter, compared to analyst estimates of $58.95 million. Callidus Software had a negative net margin of 9.54% and a negative return on equity of 5.71%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 EPS.

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In other Callidus Software news, insider Leslie Stretch sold 37,187 shares of Callidus Software stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $24.30, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Roxanne Oulman sold 5,500 shares of Callidus Software stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $23.89, for a total transaction of $131,395.00. Following the transaction, the chief financial officer now directly owns 159,201 shares in the company, valued at $3,803,311.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,550 shares of company stock worth $1,632,039. Insiders own 1.61% of the company’s stock.

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Callidus Software by 10.4% during the second quarter. JPMorgan Chase & Co. now owns 5,229 shares of the technology company’s stock valued at $127,000 after acquiring an additional 492 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Callidus Software by 17.9% during the second quarter. Ameritas Investment Partners Inc. now owns 5,661 shares of the technology company’s stock valued at $137,000 after acquiring an additional 858 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Callidus Software during the first quarter valued at about $146,000. US Bancorp DE increased its position in shares of Callidus Software by 3.5% during the second quarter. US Bancorp DE now owns 6,926 shares of the technology company’s stock valued at $168,000 after acquiring an additional 236 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Callidus Software by 1,877.6% during the second quarter. BNP Paribas Arbitrage SA now owns 7,060 shares of the technology company’s stock valued at $171,000 after acquiring an additional 6,703 shares during the last quarter. 94.89% 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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