Callidus Software (NASDAQ:CALD) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other equities analysts have also commented on the company. First Analysis initiated coverage on Callidus Software in a report on Friday, November 17th. They set an “equal weight” rating and a $32.00 target price for the company. Jefferies Group upped their target price on Callidus Software from $29.00 to $32.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Credit Suisse Group upped their target price on Callidus Software from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $33.00 target price on shares of Callidus Software in a report on Monday, December 4th. Finally, Zacks Investment Research raised Callidus Software from a “sell” rating to a “hold” rating and set a $31.00 target price for the company in a report on Tuesday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $29.67.

Shares of Callidus Software (NASDAQ:CALD) remained flat at $$27.55 during trading on Wednesday. 260,644 shares of the stock were exchanged, compared to its average volume of 354,912. Callidus Software has a 52-week low of $16.05 and a 52-week high of $30.60.

In related news, CFO Roxanne Oulman sold 6,200 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $28.01, for a total value of $173,662.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jimmy C. Duan sold 15,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $29.25, for a total value of $438,750.00. Following the completion of the transaction, the executive vice president now directly owns 300,075 shares of the company’s stock, valued at $8,777,193.75. The disclosure for this sale can be found here. Corporate insiders own 1.61% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. bought a new position in Callidus Software in the 2nd quarter worth approximately $8,255,000. State Street Corp lifted its position in Callidus Software by 8.6% in the second quarter. State Street Corp now owns 1,213,777 shares of the technology company’s stock worth $29,375,000 after purchasing an additional 96,462 shares during the period. Eagle Asset Management Inc. lifted its position in Callidus Software by 114.6% in the second quarter. Eagle Asset Management Inc. now owns 338,772 shares of the technology company’s stock worth $8,198,000 after purchasing an additional 180,897 shares during the period. Fox Run Management L.L.C. acquired a new stake in Callidus Software in the third quarter worth approximately $841,000. Finally, Rhumbline Advisers lifted its position in Callidus Software by 6.5% in the second quarter. Rhumbline Advisers now owns 73,501 shares of the technology company’s stock worth $1,779,000 after purchasing an additional 4,470 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Callidus Software (NASDAQ:CALD)

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