Callidus Software, Inc. (CALD) Sets New 12-Month High Following Analyst Upgrade

Callidus Software, Inc. (NASDAQ:CALD)’s share price hit a new 52-week high during trading on Friday after Jefferies Group raised their price target on the stock from $29.00 to $32.00. Jefferies Group currently has a buy rating on the stock. Callidus Software traded as high as $28.30 and last traded at $0.00, with a volume of shares traded.

Other equities analysts also recently issued reports about the company. Credit Suisse Group boosted their price objective on Callidus Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday. B. Riley reissued a “buy” rating and set a $28.00 price objective on shares of Callidus Software in a research report on Wednesday, September 27th. ValuEngine raised Callidus Software from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Piper Jaffray Companies set a $27.00 price objective on Callidus Software and gave the stock a “buy” rating in a research report on Saturday, August 5th. Finally, BidaskClub downgraded Callidus Software from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.29.

In related news, insider Leslie Stretch sold 37,187 shares of the company’s 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jimmy C. Duan sold 14,863 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 322,236 shares of the company’s stock, valued at $8,113,902.48. The disclosure for this sale can be found here. Insiders sold 66,550 shares of company stock valued at $1,632,039 over the last ninety days. 1.61% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CALD. Teachers Advisors LLC boosted its holdings in Callidus Software by 2.9% in the first quarter. Teachers Advisors LLC now owns 99,509 shares of the technology company’s stock valued at $2,125,000 after purchasing an additional 2,808 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Callidus Software by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,750,739 shares of the technology company’s stock valued at $58,728,000 after purchasing an additional 138,898 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Callidus Software by 7.2% in the first quarter. Geode Capital Management LLC now owns 522,077 shares of the technology company’s stock valued at $11,146,000 after purchasing an additional 35,252 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Callidus Software by 11.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 264,913 shares of the technology company’s stock valued at $5,656,000 after purchasing an additional 26,464 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Callidus Software in the first quarter valued at approximately $208,000. 94.89% of the stock is owned by hedge funds and other institutional investors.

Callidus Software (NASDAQ:CALD) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $61.30 million during the quarter, compared to analysts’ expectations of $58.95 million. During the same quarter in the prior year, the firm posted $0.06 EPS. Callidus Software’s quarterly revenue was up 23.1% compared to the same quarter last year. research analysts anticipate that Callidus Software, Inc. will post -0.21 EPS for the current year.

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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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