Callidus Software (CALD) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Callidus Software (NASDAQ:CALD) from a buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “Callidus Software provides Enterprise Incentive Management software that enables large businesses to plan, model and manage pay-for-performance compensation programs designed to align employee, sales and channel tactics with targeted business objectives. “

A number of other research analysts have also weighed in on the stock. Dougherty & Co reaffirmed a buy rating and issued a $35.00 price objective on shares of Callidus Software in a research report on Tuesday, December 19th. Piper Jaffray Companies reaffirmed a buy rating and issued a $27.00 price objective on shares of Callidus Software in a research report on Wednesday, November 1st. Oppenheimer reaffirmed a buy rating and issued a $30.00 price objective on shares of Callidus Software in a research report on Friday, September 29th. B. Riley reaffirmed a buy rating and issued a $28.00 price objective on shares of Callidus Software in a research report on Wednesday, September 27th. Finally, Jefferies Group lifted their price objective on shares of Callidus Software from $29.00 to $32.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Callidus Software has a consensus rating of Buy and a consensus price target of $30.20.

Callidus Software (CALD) traded up $0.20 on Wednesday, hitting $29.70. 240,009 shares of the company were exchanged, compared to its average volume of 353,500. Callidus Software has a one year low of $16.10 and a one year high of $30.60.

In other news, CFO Roxanne Oulman sold 6,200 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $28.01, for a total value of $173,662.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Leslie Stretch sold 15,354 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $28.33, for a total transaction of $434,978.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,554 shares of company stock worth $1,047,391. Insiders own 1.61% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Callidus Software by 10.4% in the second quarter. JPMorgan Chase & Co. now owns 5,229 shares of the technology company’s stock valued at $127,000 after purchasing an additional 492 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Callidus Software by 5.5% in the second quarter. Oppenheimer & Co. Inc. now owns 10,274 shares of the technology company’s stock valued at $249,000 after purchasing an additional 533 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Callidus Software by 17.9% in the second quarter. Ameritas Investment Partners Inc. now owns 5,661 shares of the technology company’s stock valued at $137,000 after purchasing an additional 858 shares during the period. Legal & General Group Plc raised its position in shares of Callidus Software by 6.3% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the technology company’s stock valued at $373,000 after purchasing an additional 914 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Callidus Software by 1.5% during the second quarter. Alliancebernstein L.P. now owns 76,200 shares of the technology company’s stock valued at $1,844,000 after acquiring an additional 1,100 shares in the last quarter. 92.11% of the stock is currently owned by institutional investors.

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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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