Cornerstone OnDemand (CSOD) Price Target Raised to $55.00

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Cornerstone OnDemand (NASDAQ:CSOD) had its target price upped by equities researchers at Mitsubishi UFJ Financial Group to $55.00 in a report released on Thursday, The Fly reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Mitsubishi UFJ Financial Group’s price target would suggest a potential upside of 5.61% from the company’s previous close.

CSOD has been the subject of several other research reports. Needham & Company LLC raised their price objective on shares of Cornerstone OnDemand to $65.00 and gave the stock a “strong-buy” rating in a report on Monday, July 23rd. Zacks Investment Research lowered shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. BidaskClub lowered shares of Cornerstone OnDemand from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 18th. Piper Jaffray Companies raised shares of Cornerstone OnDemand from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $46.00 to $60.00 in a report on Tuesday, July 17th. Finally, First Analysis set a $69.00 price objective on shares of Cornerstone OnDemand and gave the stock a “buy” rating in a report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.73.

NASDAQ:CSOD opened at $52.08 on Thursday. Cornerstone OnDemand has a 12-month low of $33.57 and a 12-month high of $59.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.50.

Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The firm had revenue of $134.00 million during the quarter, compared to analyst estimates of $130.07 million. Cornerstone OnDemand had a negative net margin of 7.46% and a negative return on equity of 48.49%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 earnings per share. On average, research analysts anticipate that Cornerstone OnDemand will post -0.32 EPS for the current fiscal year.

In other news, CEO Adam L. Miller sold 21,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $52.23, for a total transaction of $1,096,830.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Harold W. Burlingame sold 1,552 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $50.86, for a total transaction of $78,934.72. Following the sale, the director now directly owns 53,326 shares in the company, valued at $2,712,160.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 149,658 shares of company stock valued at $8,202,467. Company insiders own 11.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Cornerstone OnDemand by 3.6% during the third quarter. BlackRock Inc. now owns 3,760,456 shares of the software maker’s stock valued at $213,406,000 after purchasing an additional 132,229 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Cornerstone OnDemand by 6.7% during the third quarter. First Trust Advisors LP now owns 2,184,752 shares of the software maker’s stock valued at $123,985,000 after purchasing an additional 137,316 shares during the last quarter. Carillon Tower Advisers Inc. grew its stake in shares of Cornerstone OnDemand by 1.9% during the second quarter. Carillon Tower Advisers Inc. now owns 1,509,541 shares of the software maker’s stock valued at $71,597,000 after purchasing an additional 27,730 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Cornerstone OnDemand by 51.7% during the third quarter. Victory Capital Management Inc. now owns 1,192,949 shares of the software maker’s stock valued at $67,701,000 after purchasing an additional 406,670 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Cornerstone OnDemand by 10,564.1% during the third quarter. JPMorgan Chase & Co. now owns 1,183,075 shares of the software maker’s stock valued at $67,140,000 after purchasing an additional 1,171,981 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About Cornerstone OnDemand

Cornerstone OnDemand, Inc, together with its subsidiaries, provides learning and human capital management software through software-as-a-service model worldwide. Its enterprise human capital management platform comprises four product suites, such as Recruiting Suite that helps organizations to source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; Performance Suite that provides tools to manage goal setting, performance reviews, competency assessments, development plans, continuous feedback, compensation management, and succession planning; and HR Administration Suite, which supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.

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Analyst Recommendations for Cornerstone OnDemand (NASDAQ:CSOD)

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