Zacks Investment Research upgraded shares of Cornerstone OnDemand (NASDAQ:CSOD) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $44.00 price objective 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. “
A number of other equities analysts have also recently weighed in on the company. BidaskClub upgraded Cornerstone OnDemand from a sell rating to a hold rating in a report on Saturday, January 6th. B. Riley lowered their price target on Cornerstone OnDemand from $47.00 to $46.00 and set a buy rating for the company in a report on Friday, November 10th. Barclays raised their target price on Cornerstone OnDemand from $32.00 to $33.00 and gave the company an underweight rating in a report on Thursday, November 9th. KeyCorp restated a hold rating on shares of Cornerstone OnDemand in a report on Thursday, November 9th. Finally, Piper Jaffray Companies cut Cornerstone OnDemand from an overweight rating to a neutral rating and set a $40.00 target price for the company. in a report on Thursday, November 9th. One equities 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 given a strong buy rating to the stock. Cornerstone OnDemand presently has a consensus rating of Hold and an average price target of $42.89.
Cornerstone OnDemand (NASDAQ:CSOD) last released its quarterly 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. The business had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $118.95 million. Cornerstone OnDemand had a negative return on equity of 173.27% and a negative net margin of 15.45%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. equities analysts forecast that Cornerstone OnDemand will post -0.66 earnings per share for the current fiscal year.
Cornerstone OnDemand declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Joseph P. Payne bought 3,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average cost of $34.32 per share, for a total transaction of $102,960.00. The purchase was disclosed in a document filed 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 transaction, the director now owns 25,850 shares of the company’s stock, valued at $1,030,898. The disclosure for this sale can be found here. Insiders have sold a total of 8,000 shares of company stock valued at $295,040 over the last 90 days. 12.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its position in Cornerstone OnDemand by 2.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 257,740 shares of the software maker’s stock valued at $9,106,000 after purchasing an additional 5,200 shares in the last quarter. Bank of Montreal Can raised its position in Cornerstone OnDemand by 25.8% in the 4th quarter. Bank of Montreal Can now owns 41,538 shares of the software maker’s stock valued at $1,467,000 after purchasing an additional 8,532 shares in the last quarter. Jana Partners LLC acquired a new stake in Cornerstone OnDemand in the 3rd quarter valued at about $2,031,000. GSA Capital Partners LLP acquired a new stake in Cornerstone OnDemand in the 3rd quarter valued at about $391,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Cornerstone OnDemand in the 3rd quarter valued at about $595,000. 95.76% of the stock is currently owned by institutional investors.
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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