Zacks Investment Research downgraded shares of Cornerstone OnDemand (NASDAQ:CSOD) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
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. “
Other analysts have also issued research reports about the company. Barclays increased their target price on Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an underweight rating in a research note on Thursday, November 9th. JPMorgan Chase & Co. upgraded Cornerstone OnDemand from an underweight rating to a neutral rating in a research note on Wednesday, November 8th. BidaskClub upgraded Cornerstone OnDemand from a sell rating to a hold rating in a research note on Saturday, January 6th. B. Riley reduced their target price on Cornerstone OnDemand from $47.00 to $46.00 and set a buy rating on the stock in a research note on Friday, November 10th. Finally, KeyCorp reiterated a hold rating on shares of Cornerstone OnDemand in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $42.78.
Cornerstone OnDemand (CSOD) traded up $0.25 during mid-day trading on Friday, reaching $39.17. The company’s stock had a trading volume of 557,109 shares, compared to its average volume of 428,805. Cornerstone OnDemand has a twelve month low of $33.24 and a twelve month high of $44.25. The stock has a market capitalization of $2,253.52, a price-to-earnings ratio of -31.34 and a beta of 0.50.
Cornerstone OnDemand (NASDAQ:CSOD) last released its earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Cornerstone OnDemand had a negative return on equity of 173.27% and a negative net margin of 15.45%. The business had revenue of $121.80 million for the quarter, compared to analyst estimates of $118.95 million. During the same quarter last year, the firm posted $0.11 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. equities analysts forecast that Cornerstone OnDemand will post -0.66 earnings per share for the current year.
Cornerstone OnDemand declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Joseph P. Payne purchased 3,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $34.32 per share, for a total transaction of $102,960.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R C. Mark Baker sold 2,000 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $39.88, for a total value of $79,760.00. Following the transaction, the director now owns 25,850 shares in the company, valued at approximately $1,030,898. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,000 shares of company stock worth $295,040. Insiders own 12.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in CSOD. Schwab Charles Investment Management Inc. increased its stake in shares of Cornerstone OnDemand by 7.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 221,011 shares of the software maker’s stock valued at $7,902,000 after buying an additional 14,642 shares during the period. Legal & General Group Plc grew its stake in Cornerstone OnDemand by 15.8% in the second quarter. Legal & General Group Plc now owns 18,702 shares of the software maker’s stock valued at $669,000 after purchasing an additional 2,554 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Cornerstone OnDemand by 530.5% in the second quarter. BNP Paribas Arbitrage SA now owns 6,475 shares of the software maker’s stock valued at $231,000 after purchasing an additional 5,448 shares during the last quarter. Prudential Financial Inc. grew its stake in Cornerstone OnDemand by 2.5% in the second quarter. Prudential Financial Inc. now owns 10,678 shares of the software maker’s stock valued at $382,000 after purchasing an additional 260 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Cornerstone OnDemand by 1.3% in the second quarter. Principal Financial Group Inc. now owns 7,306 shares of the software maker’s stock valued at $261,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This report was published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.thelincolnianonline.com/2018/01/13/cornerstone-ondemand-csod-downgraded-by-zacks-investment-research-to-hold.html.
Cornerstone OnDemand Company Profile
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.
Receive News & Ratings for Cornerstone OnDemand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cornerstone OnDemand and related companies with MarketBeat.com's FREE daily email newsletter.