William Blair Reaffirms “Market Perform” Rating for Cornerstone OnDemand (CSOD)

William Blair reaffirmed their market perform rating on shares of Cornerstone OnDemand (NASDAQ:CSOD) in a research report report published on Wednesday morning. William Blair also issued estimates for Cornerstone OnDemand’s Q1 2018 earnings at ($0.18) EPS, Q2 2018 earnings at ($0.15) EPS, Q3 2018 earnings at ($0.09) EPS, Q4 2018 earnings at ($0.03) EPS and FY2018 earnings at ($0.45) EPS.

CSOD has been the subject of several other reports. B. Riley decreased their price objective on Cornerstone OnDemand from $47.00 to $46.00 and set a buy rating for the company in a report on Friday, November 10th. Zacks Investment Research upgraded Cornerstone OnDemand from a hold rating to a buy rating and set a $43.00 price objective for the company in a report on Wednesday, January 10th. Piper Jaffray Companies restated a hold rating and issued a $44.00 price objective on shares of Cornerstone OnDemand in a report on Tuesday, January 23rd. JPMorgan Chase & Co. upgraded Cornerstone OnDemand from an underweight rating to a neutral rating in a report on Wednesday, November 8th. Finally, Credit Suisse Group restated a buy rating and issued a $49.00 price objective on shares of Cornerstone OnDemand in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Cornerstone OnDemand has an average rating of Hold and an average price target of $43.00.

Shares of Cornerstone OnDemand (NASDAQ CSOD) opened at $40.55 on Wednesday. Cornerstone OnDemand has a 52-week low of $33.24 and a 52-week high of $44.25. The firm has a market capitalization of $2,350.00, a price-to-earnings ratio of -37.90 and a beta of 0.57.

Cornerstone OnDemand (NASDAQ:CSOD) last released its earnings results on Tuesday, February 13th. The software maker reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). Cornerstone OnDemand had a negative return on equity of 130.79% and a negative net margin of 12.73%. The business had revenue of $131.96 million for the quarter, compared to the consensus estimate of $132.12 million. equities analysts expect that Cornerstone OnDemand will post -0.34 EPS for the current fiscal year.

Cornerstone OnDemand declared that its board has initiated a stock repurchase plan on Wednesday, November 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other Cornerstone OnDemand news, CEO Adam L. Miller sold 30,000 shares of Cornerstone OnDemand stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $41.71, for a total value of $1,251,300.00. Following the transaction, the chief executive officer now owns 3,502,640 shares in the company, valued at $146,095,114.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R C. Mark Baker sold 3,000 shares of Cornerstone OnDemand stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $36.95, for a total value of $110,850.00. Following the completion of the transaction, the director now owns 25,850 shares in the company, valued at approximately $955,157.50. The disclosure for this sale can be found here. Insiders sold 36,000 shares of company stock worth $1,466,580 in the last quarter. 12.60% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund grew its stake in shares of Cornerstone OnDemand by 7.4% during the second quarter. New York State Common Retirement Fund now owns 59,560 shares of the software maker’s stock worth $2,129,000 after acquiring an additional 4,099 shares during the last quarter. Northern Trust Corp grew its stake in shares of Cornerstone OnDemand by 4.6% during the second quarter. Northern Trust Corp now owns 672,594 shares of the software maker’s stock worth $24,045,000 after acquiring an additional 29,676 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cornerstone OnDemand by 0.9% during the second quarter. Vanguard Group Inc. now owns 4,267,865 shares of the software maker’s stock worth $152,575,000 after acquiring an additional 37,652 shares during the last quarter. Ark Investment Management LLC grew its stake in shares of Cornerstone OnDemand by 194.2% during the second quarter. Ark Investment Management LLC now owns 26,027 shares of the software maker’s stock worth $930,000 after acquiring an additional 17,181 shares during the last quarter. Finally, AHL Partners LLP purchased a new stake in shares of Cornerstone OnDemand during the second quarter worth about $255,000. Institutional investors own 93.75% of the company’s stock.

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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.

Analyst Recommendations for Cornerstone OnDemand (NASDAQ:CSOD)

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