Zacks Investment Research upgraded shares of Cornerstone OnDemand (NASDAQ:CSOD) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The brokerage currently has $44.00 target price on the software maker’s stock.
According to Zacks, “Cornerstone OnDemand, Inc. is a provider of a comprehensive learning and talent management solution delivered as software-as-a-service (SaaS). Solutions offered by the Company include five integrated platforms for learning management, enterprise social networking, performance management, succession planning and extended enterprise. Cornerstone OnDemand, Inc. is based in California. “
Several other research firms also recently issued reports on CSOD. JPMorgan Chase & Co. raised Cornerstone OnDemand from an underweight rating to a neutral rating in a research note on Wednesday, November 8th. Piper Jaffray Companies downgraded Cornerstone OnDemand from an overweight rating to a neutral rating and set a $40.00 price objective for the company. in a research note on Thursday, November 9th. KeyCorp reaffirmed a hold rating on shares of Cornerstone OnDemand in a research note on Thursday, November 9th. Barclays upped their price objective on Cornerstone OnDemand from $32.00 to $33.00 and gave the company an underweight rating in a research note on Thursday, November 9th. Finally, B. Riley lowered their price objective on Cornerstone OnDemand from $47.00 to $46.00 and set a buy rating for the company in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $42.89.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its earnings results on Wednesday, November 8th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $118.95 million. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. sell-side analysts anticipate that Cornerstone OnDemand will post -0.66 earnings per share for the current fiscal year.
Cornerstone OnDemand declared that its board has initiated a stock buyback plan on Wednesday, November 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Cornerstone OnDemand news, Director R C. Mark Baker sold 3,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $34.81, for a total transaction of $104,430.00. Following the completion of the sale, the director now owns 24,850 shares of the company’s stock, valued at approximately $865,028.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. increased its position in Cornerstone OnDemand by 7.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 221,011 shares of the software maker’s stock valued at $7,902,000 after purchasing an additional 14,642 shares during the period. Northern Trust Corp increased its position in Cornerstone OnDemand by 4.6% during the 2nd quarter. Northern Trust Corp now owns 672,594 shares of the software maker’s stock valued at $24,045,000 after purchasing an additional 29,676 shares during the period. First Trust Advisors LP increased its position in Cornerstone OnDemand by 0.6% during the 3rd quarter. First Trust Advisors LP now owns 1,548,109 shares of the software maker’s stock valued at $62,869,000 after purchasing an additional 9,874 shares during the period. AHL Partners LLP acquired a new stake in Cornerstone OnDemand during the 2nd quarter valued at approximately $255,000. Finally, Sei Investments Co. increased its position in Cornerstone OnDemand by 10.2% during the 3rd quarter. Sei Investments Co. now owns 155,935 shares of the software maker’s stock valued at $6,332,000 after purchasing an additional 14,384 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.
About Cornerstone OnDemand
Cornerstone OnDemand, Inc is a cloud computing company. The Company provides learning and human capital management software, delivered as Software-as-a-Service (SaaS). Its human capital management platform combines the talent management solutions with analytics and human resources (HR) administration solutions to enable organizations to manage the employee lifecycle.
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