Xactly Corporation (NASDAQ:XTLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

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. “

A number of other equities research analysts have also commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Xactly Corporation in a report on Wednesday, October 12th. Deutsche Bank AG upped their price target on shares of Xactly Corporation from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, September 26th. Lake Street Capital upped their price target on shares of Xactly Corporation from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, September 9th. Oppenheimer Holdings Inc. upped their price target on shares of Xactly Corporation from $13.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, September 7th. Finally, Dougherty & Co reiterated a “buy” rating and set a $20.00 price target on shares of Xactly Corporation in a report on Tuesday, September 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $17.57.

Analyst Recommendations for Xactly Corporation (NASDAQ:XTLY)

Xactly Corporation (NASDAQ:XTLY) opened at 12.60 on Thursday. Xactly Corporation has a one year low of $4.68 and a one year high of $16.10. The firm’s market capitalization is $387.45 million. The stock’s 50 day moving average is $13.65 and its 200-day moving average is $12.24.

Xactly Corporation (NASDAQ:XTLY) last announced its quarterly earnings data on Thursday, September 8th. The company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.06. The business earned $24 million during the quarter, compared to the consensus estimate of $23.37 million. The business’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 related news, Director Carol Mills sold 25,000 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $12.71, for a total transaction of $317,750.00. Following the sale, the director now directly owns 34,364 shares of the company’s stock, valued at approximately $436,766.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Cabrera sold 30,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $15.00, for a total transaction of $450,000.00. Following the sale, the chief executive officer now directly owns 126,500 shares in the company, valued at $1,897,500. The disclosure for this sale can be found here.

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Xactly Corporation by 59.5% in the second quarter. JPMorgan Chase & Co. now owns 871,550 shares of the company’s stock valued at $11,165,000 after buying an additional 325,216 shares during the period. Thompson Davis & CO. Inc. purchased a new stake in shares of Xactly Corporation during the second quarter valued at approximately $184,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Xactly Corporation during the second quarter valued at approximately $2,889,000. EAM Investors LLC increased its stake 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. Finally, Garelick Capital Partners LP purchased a new stake in shares of Xactly Corporation during the second quarter valued at approximately $774,000.

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.

5 Day Chart for NASDAQ:XTLY

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