Zacks Investment Research Lowers Cornerstone OnDemand (CSOD) to Hold

Cornerstone OnDemand (NASDAQ:CSOD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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 brokerages have also recently commented on CSOD. Barclays lifted their price objective on shares of Cornerstone OnDemand from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, November 9th. BidaskClub upgraded shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. KeyCorp restated a “hold” rating on shares of Cornerstone OnDemand in a research note on Thursday, November 9th. Piper Jaffray Companies cut shares of 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. Finally, JPMorgan Chase & Co. upgraded shares of Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.78.

Cornerstone OnDemand (NASDAQ:CSOD) traded up $0.25 during mid-day trading on Friday, reaching $39.17. 557,109 shares of the company were exchanged, compared to its average volume of 541,378. The firm has a market cap of $2,270.00, a PE ratio of -31.34 and a beta of 0.50. Cornerstone OnDemand has a one year low of $33.24 and a one year high of $44.25.

Cornerstone OnDemand (NASDAQ:CSOD) last released 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. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The company had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $118.95 million. During the same period last year, the business earned $0.11 EPS. Cornerstone OnDemand’s revenue for the quarter was up 13.0% on a year-over-year basis. sell-side analysts predict that Cornerstone OnDemand will post -0.66 EPS for the current year.

Cornerstone OnDemand announced that its Board of Directors has approved a stock repurchase plan on Wednesday, November 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, Director R C. Mark Baker sold 3,000 shares of Cornerstone OnDemand stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $36.95, for a total transaction of $110,850.00. Following the completion of the transaction, the director now directly owns 25,850 shares of the company’s stock, valued at approximately $955,157.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R C. Mark Baker sold 2,000 shares of Cornerstone OnDemand stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $39.88, for a total transaction of $79,760.00. Following the transaction, the director now directly owns 25,850 shares of the company’s stock, valued at $1,030,898. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,000 shares of company stock valued at $295,040. Insiders own 12.60% of the company’s stock.

Large investors have recently bought and sold shares of the company. Quantbot Technologies LP increased its holdings in shares of Cornerstone OnDemand by 153.2% during the 2nd 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. increased its holdings in Cornerstone OnDemand by 5.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock worth $163,000 after acquiring an additional 223 shares in the last quarter. Trexquant Investment LP purchased a new stake in Cornerstone OnDemand in the 3rd quarter worth $230,000. BNP Paribas Arbitrage SA increased its holdings in Cornerstone OnDemand by 530.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,475 shares of the software maker’s stock worth $231,000 after acquiring an additional 5,448 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in Cornerstone OnDemand by 8.7% in the 2nd quarter. Amalgamated Bank now owns 6,704 shares of the software maker’s stock worth $240,000 after acquiring an additional 535 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other 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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