Callidus Software Inc. (NASDAQ:CALD) Receives Average Recommendation of “Buy” from Brokerages
Shares of Callidus Software Inc. (NASDAQ:CALD) have received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.43.
A number of analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and set a $21.00 price objective on shares of Callidus Software in a research note on Tuesday, August 9th. Piper Jaffray Cos. increased their price objective on Callidus Software from $21.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, July 21st. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Callidus Software in a research note on Monday. Zacks Investment Research raised Callidus Software from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Monday, August 8th. Finally, Roth Capital reissued a “buy” rating on shares of Callidus Software in a research note on Wednesday, June 1st.
Shares of Callidus Software (NASDAQ:CALD) remained flat at $18.25 during trading on Tuesday. The stock had a trading volume of 497,263 shares. Callidus Software has a 1-year low of $11.48 and a 1-year high of $21.64. The stock’s market cap is $1.04 billion. The company has a 50 day moving average price of $19.49 and a 200-day moving average price of $18.25.
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Callidus Software (NASDAQ:CALD) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $49.80 million for the quarter, compared to analyst estimates of $50.32 million. Callidus Software had a negative return on equity of 6.53% and a negative net margin of 7.69%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 earnings per share. Analysts predict that Callidus Software will post $0.28 earnings per share for the current fiscal year.
In other news, insider Leslie Stretch sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $19.21, for a total value of $720,375.00. Following the transaction, the insider now directly owns 511,670 shares in the company, valued at approximately $9,829,180.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles Boesenberg sold 17,670 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $19.77, for a total value of $349,335.90. Following the completion of the transaction, the director now owns 156,176 shares in the company, valued at $3,087,599.52. The disclosure for this sale can be found here. 3.23% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Callidus Software by 21.0% in the second quarter. BlackRock Inc. now owns 5,095 shares of the company’s stock worth $102,000 after buying an additional 883 shares during the period. Teacher Retirement System of Texas increased its position in Callidus Software by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 7,861 shares of the company’s stock worth $157,000 after buying an additional 950 shares during the period. Menta Capital LLC purchased a new position in Callidus Software during the first quarter worth approximately $186,000. First Republic Investment Management Inc. purchased a new position in Callidus Software during the first quarter worth approximately $193,000. Finally, US Bancorp DE increased its position in Callidus Software by 16.3% in the second quarter. US Bancorp DE now owns 11,754 shares of the company’s stock worth $234,000 after buying an additional 1,648 shares during the period. Institutional investors own 97.98% 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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