Cornerstone OnDemand (CSOD) Upgraded to “Hold” by BidaskClub

Cornerstone OnDemand (NASDAQ:CSOD) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts also recently issued reports on the company. B. Riley dropped their price target on Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Barclays increased their price target on Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, November 9th. KeyCorp reissued a “hold” rating on shares of Cornerstone OnDemand in a research report on Thursday, November 9th. Piper Jaffray Companies downgraded Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Thursday, November 9th. Finally, Zacks Investment Research downgraded Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned 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 a consensus rating of “Hold” and an average target price of $42.75.

Cornerstone OnDemand (CSOD) traded up $1.04 on Friday, hitting $37.38. The stock had a trading volume of 695,479 shares, compared to its average volume of 417,533. Cornerstone OnDemand has a fifty-two week low of $33.24 and a fifty-two week high of $44.25. The company has a market cap of $2,104.14, a P/E ratio of -29.90 and a beta of 0.50.

Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share (EPS) 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 the consensus estimate of $118.95 million. During the same quarter in the prior year, the company earned $0.11 EPS. The business’s revenue was up 13.0% compared to the same quarter last year. equities analysts anticipate that Cornerstone OnDemand will post -0.66 earnings per share for the current fiscal year.

Cornerstone OnDemand announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director R C. Mark Baker sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $36.95, for a total transaction of $110,850.00. Following the sale, the director now owns 25,850 shares of the company’s stock, valued at $955,157.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R C. Mark Baker sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $39.88, for a total value of $79,760.00. Following the sale, the director now directly 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 ninety days, insiders have sold 8,000 shares of company stock worth $295,040. 12.60% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP boosted its position in Cornerstone OnDemand by 153.2% during the second quarter. Quantbot Technologies LP now owns 2,874 shares of the software maker’s stock valued at $102,000 after purchasing an additional 1,739 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Cornerstone OnDemand by 5.1% in the second quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock valued at $163,000 after buying an additional 223 shares during the last quarter. Trexquant Investment LP purchased a new stake in Cornerstone OnDemand in the third quarter valued at about $230,000. BNP Paribas Arbitrage SA raised 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 buying an additional 5,448 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Cornerstone OnDemand by 8.7% in the second quarter. Amalgamated Bank now owns 6,704 shares of the software maker’s stock valued at $240,000 after buying an additional 535 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors.

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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.

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