Callidus Software Inc. (NASDAQ:CALD) was downgraded by investment analysts at Dougherty & Co from a “neutral” rating to a “sell” rating in a research note issued to investors on Monday. They currently have a $15.00 price target on the stock. Dougherty & Co’s price target would suggest a potential downside of 20.55% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Credit Suisse Group AG reissued an “outperform” rating and set a $22.00 target price on shares of Callidus Software in a research report on Monday. B. Riley reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Callidus Software in a report on Tuesday, August 9th. Zacks Investment Research raised shares of Callidus Software from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Monday, August 8th. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of Callidus Software in a report on Thursday, August 4th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Callidus Software in a report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Callidus Software has a consensus rating of “Buy” and an average target price of $21.11.

Shares of Callidus Software (NASDAQ:CALD) opened at 18.88 on Monday. The firm’s 50 day moving average is $19.73 and its 200-day moving average is $18.12. The company’s market cap is $1.08 billion. Callidus Software has a 1-year low of $11.48 and a 1-year high of $21.64.

Callidus Software (NASDAQ:CALD) last released its earnings results on Tuesday, August 2nd. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Callidus Software had a negative net margin of 7.69% and a negative return on equity of 6.53%. The firm earned $49.80 million during the quarter, compared to the consensus estimate of $50.32 million. During the same period in the prior year, the firm earned $0.03 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. Equities analysts expect that Callidus Software will post $0.28 earnings per share for the current year.

In other news, Director Charles Boesenberg sold 17,670 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $19.77, for a total transaction of $349,335.90. Following the sale, the director now owns 156,176 shares in the company, valued at approximately $3,087,599.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Leslie Stretch sold 37,500 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $19.21, for a total transaction of $720,375.00. Following the sale, the insider now owns 511,670 shares in the company, valued at approximately $9,829,180.70. The disclosure for this sale can be found here. 3.23% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of CALD. GW&K Investment Management LLC bought a new stake in Callidus Software during the first quarter valued at $14,815,000. Summit Creek Advisors LLC boosted its stake in Callidus Software by 9.0% in the first quarter. Summit Creek Advisors LLC now owns 921,588 shares of the company’s stock valued at $15,372,000 after buying an additional 76,218 shares during the period. Franklin Resources Inc. boosted its stake in Callidus Software by 7.7% in the first quarter. Franklin Resources Inc. now owns 3,043,910 shares of the company’s stock valued at $50,773,000 after buying an additional 217,346 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Callidus Software by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,488,416 shares of the company’s stock valued at $24,827,000 after buying an additional 32,784 shares during the period. Finally, Palisade Capital Management LLC NJ boosted its stake in Callidus Software by 124.2% in the first quarter. Palisade Capital Management LLC NJ now owns 153,750 shares of the company’s stock valued at $2,565,000 after buying an additional 85,170 shares during the period. Hedge funds and other 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.

5 Day Chart for NASDAQ:CALD

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