Callidus Software (NASDAQ: CALD) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a research note issued on Thursday.
Separately, analysts at Morgan Keegan initiated coverage on shares of Callidus Software in a research note to investors on Thursday, December 22nd. They set an “outperform” rating and a $9.50 price target on the stock.
Callidus Software Inc. is a provider of sales performance management (SPM) software and services. The Company’s software consulting services offers customers a range of SPM solution implementations, system upgrades, compensation plan enhancements, migration assistance, reporting and integration consulting and solution architecture services. The Callidus product line provides solution for all aspects of the SPM process. Callidus also provides packaged, certified integration with salesforce.com, enabling an organization’s sales team to access Callidus applications from its sales force automation/customer relationship management system. The Company provides a range of services to its customers, including professional services, maintenance and technical support services, and professional development services. On January 1, 2010, the Company completed the acquisition of Actek, Inc.
Callidus Software traded down 3.00% on Thursday, hitting $7.12. Callidus Software has a 1-year low of $4.05 and a 1-year high of $7.50. The stock has a 50-day moving average of $6.42 and a 200-day moving average of $5.35. The company’s market cap is $232.1 million.
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