Cornerstone OnDemand (NASDAQ:CSOD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
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 equities research analysts have also recently issued reports on CSOD. BidaskClub raised Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Credit Suisse Group reissued a “buy” rating and set a $49.00 target price on shares of Cornerstone OnDemand in a research note on Thursday. JPMorgan Chase & Co. raised Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research note on Wednesday, November 8th. KeyCorp reissued a “hold” rating on shares of Cornerstone OnDemand in a research note 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 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 stock currently has an average rating of “Hold” and a consensus price target of $42.89.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The company 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 firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. research analysts anticipate that Cornerstone OnDemand will post -0.66 EPS for the current fiscal year.
Cornerstone OnDemand declared that its board has approved a stock repurchase program on Wednesday, November 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, Director R C. Mark Baker sold 3,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $34.81, for a total transaction of $104,430.00. Following the completion of the transaction, the director now directly owns 24,850 shares in the company, valued at $865,028.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director R C. Mark Baker sold 2,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was 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. Over the last 90 days, insiders have sold 8,000 shares of company stock valued at $295,040. Company insiders own 12.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its holdings in Cornerstone OnDemand by 2.1% in the fourth 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 during the period. Bank of Montreal Can boosted its holdings in Cornerstone OnDemand by 25.8% in the fourth 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 during the period. Jana Partners LLC purchased a new stake in Cornerstone OnDemand during the 3rd quarter worth about $2,031,000. GSA Capital Partners LLP purchased a new stake in Cornerstone OnDemand during the 3rd quarter worth about $391,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Cornerstone OnDemand during the 3rd quarter worth about $595,000. Institutional investors and hedge funds own 95.76% of the company’s stock.
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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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