Cornerstone OnDemand (NASDAQ:CSOD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “
CSOD has been the topic of several other reports. Piper Jaffray Companies lowered shares of Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Thursday, November 9th. KeyCorp reaffirmed a “hold” rating on shares of Cornerstone OnDemand in a research report on Thursday, November 9th. B. Riley dropped their price target on shares of Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. BidaskClub raised shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Finally, JPMorgan Chase & Co. raised shares of Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Cornerstone OnDemand currently has an average rating of “Hold” and a consensus price target of $42.89.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its earnings results on Wednesday, November 8th. The software maker reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $118.95 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. equities research analysts forecast that Cornerstone OnDemand will post -0.66 EPS for the current fiscal year.
Cornerstone OnDemand announced that its board has initiated a stock buyback program on Wednesday, November 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In other news, Director R C. Mark Baker sold 2,000 shares of the 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 directly owns 25,850 shares of the company’s stock, valued at $1,030,898. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph P. Payne acquired 3,000 shares of the company’s stock in a transaction dated 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 disclosure for this purchase can be found here. Insiders have sold 8,000 shares of company stock worth $295,040 over the last ninety days. Insiders own 12.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CSOD. Quantbot Technologies LP raised its position in shares of Cornerstone OnDemand by 153.2% in the second 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 during the period. Ameritas Investment Partners Inc. raised its position in shares of Cornerstone OnDemand by 5.1% in the second quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock valued at $163,000 after purchasing an additional 223 shares during the period. Trexquant Investment LP bought a new position in shares of Cornerstone OnDemand in the third quarter valued at about $230,000. BNP Paribas Arbitrage SA raised its position in shares of Cornerstone OnDemand by 530.5% in the second quarter. BNP Paribas Arbitrage SA now owns 6,475 shares of the software maker’s stock valued at $231,000 after purchasing an additional 5,448 shares during the period. Finally, Amalgamated Bank raised its position in shares of Cornerstone OnDemand by 8.7% in the second quarter. Amalgamated Bank now owns 6,704 shares of the software maker’s stock valued at $240,000 after purchasing an additional 535 shares during the period. 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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