Callidus Software (CALD) Cut to “Buy” at BidaskClub

BidaskClub lowered shares of Callidus Software (NASDAQ:CALD) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

CALD has been the subject of several other reports. Jefferies Group raised their price objective on Callidus Software from $29.00 to $32.00 and gave the company a buy rating in a research note on Friday, November 3rd. Zacks Investment Research downgraded Callidus Software from a hold rating to a sell rating in a research note on Tuesday, October 17th. Piper Jaffray Companies reaffirmed a buy rating and issued a $27.00 price objective on shares of Callidus Software in a research note on Wednesday, November 1st. Oppenheimer reaffirmed a buy rating and issued a $30.00 price objective on shares of Callidus Software in a research note on Friday, September 29th. Finally, Credit Suisse Group raised their price target on Callidus Software from $30.00 to $32.00 and gave the stock an outperform rating in a research report on Friday, November 3rd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $29.67.

Callidus Software (NASDAQ CALD) opened at $27.55 on Wednesday. Callidus Software has a one year low of $16.05 and a one year high of $30.60.

In related news, CFO Roxanne Oulman sold 6,200 shares of Callidus Software stock in a transaction 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jimmy C. Duan sold 15,000 shares of Callidus Software stock in a transaction on Monday, November 6th. The shares were 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 owns 300,075 shares in the company, valued at approximately $8,777,193.75. The disclosure for this sale can be found here. 1.61% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of CALD. Janus Henderson Group PLC acquired a new position in Callidus Software in the second quarter valued at $84,553,000. Capital World Investors boosted its holdings in Callidus Software by 94.7% in the second quarter. Capital World Investors now owns 3,310,000 shares of the technology company’s stock valued at $80,102,000 after acquiring an additional 1,610,000 shares during the last quarter. American Century Companies Inc. purchased a new position in Callidus Software in the second quarter valued at about $8,255,000. Ameriprise Financial Inc. raised its position in Callidus Software by 200.9% in the second quarter. Ameriprise Financial Inc. now owns 461,036 shares of the technology company’s stock valued at $11,157,000 after purchasing an additional 307,842 shares during the period. Finally, Macquarie Group Ltd. raised its position in Callidus Software by 17.6% in the second quarter. Macquarie Group Ltd. now owns 1,735,767 shares of the technology company’s stock valued at $42,006,000 after purchasing an additional 260,145 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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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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