Xactly Corporation (NASDAQ:XTLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $15.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 7.45% from the company’s previous close.

According to Zacks, “Xactly Corporation offers software solutions. The company provides enterprise-class, cloud-based, incentive compensation solutions. Its product consists of Xactly Incent Enterprise, Xactly Incent Express, Xactly Objectives and Xactly Insights. Xactly Corporation is headquartered in San Jose, California. “

Several other analysts also recently weighed in on XTLY. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price (up previously from $13.00) on shares of Xactly Corporation in a research note on Tuesday, June 7th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Xactly Corporation in a research note on Tuesday, June 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Xactly Corporation in a research note on Monday, June 6th. National Securities started coverage on Xactly Corporation in a research note on Tuesday, August 2nd. They set a “buy” rating and a $17.00 target price on the stock. Finally, Dougherty & Co reaffirmed a “buy” rating and set a $20.00 target price on shares of Xactly Corporation in a research note on Tuesday, September 6th. Eight analysts have rated the stock with a buy rating, Xactly Corporation currently has a consensus rating of “Buy” and an average price target of $17.14.

Shares of Xactly Corporation (NASDAQ:XTLY) opened at 13.96 on Thursday. The stock has a 50 day moving average price of $13.66 and a 200 day moving average price of $10.27. Xactly Corporation has a 12 month low of $4.68 and a 12 month high of $14.90. The stock’s market capitalization is $429.27 million.

Xactly Corporation (NASDAQ:XTLY) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. The company earned $24 million during the quarter, compared to the consensus estimate of $23.37 million. Xactly Corporation’s revenue for the quarter was up 31.1% on a year-over-year basis. On average, analysts anticipate that Xactly Corporation will post ($0.43) EPS for the current fiscal year.

In other news, CFO Joseph C. Consul sold 16,665 shares of Xactly Corporation stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $11.93, for a total transaction of $198,813.45. Following the transaction, the chief financial officer now directly owns 34,665 shares in the company, valued at approximately $413,553.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carol Mills sold 25,000 shares of Xactly Corporation stock in a transaction on Monday, July 18th. The shares were sold at an average price of $12.10, for a total value of $302,500.00. Following the transaction, the director now owns 34,364 shares in the company, valued at $415,804.40. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of XTLY. EAM Investors LLC boosted its position in shares of Xactly Corporation by 115.8% in the second quarter. EAM Investors LLC now owns 231,550 shares of the company’s stock valued at $2,966,000 after buying an additional 124,255 shares during the period. Strs Ohio boosted its position in shares of Xactly Corporation by 1,920.0% in the second quarter. Strs Ohio now owns 50,500 shares of the company’s stock valued at $646,000 after buying an additional 48,000 shares during the period. Thompson Davis & CO. Inc. purchased a new position in shares of Xactly Corporation during the second quarter valued at about $184,000. Fortaleza Asset Management Inc. purchased a new position in shares of Xactly Corporation during the second quarter valued at about $121,000. Finally, Nationwide Fund Advisors boosted its position in shares of Xactly Corporation by 139.9% in the second quarter. Nationwide Fund Advisors now owns 14,929 shares of the company’s stock valued at $191,000 after buying an additional 8,706 shares during the period.

About Xactly Corporation

Xactly Corporation is a provider of cloud-based incentive compensation solutions for employee and sales performance management. The Company delivers its solutions through a software-as-a-service (SaaS) business model. The Company has a customer base, including companies in various industries, such as business and financial services, communications, life sciences, media and Internet, SaaS and traditional software, and retail.

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