Cornerstone OnDemand (NASDAQ:CSOD)‘s stock had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies in a research report issued on Tuesday. They presently have a $44.00 target price on the software maker’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 4.79% from the stock’s current price.
Several other research analysts have also commented on CSOD. Zacks Investment Research upgraded shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. JPMorgan Chase & Co. upgraded shares of Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research note on Wednesday, November 8th. KeyCorp reiterated a “hold” rating on shares of Cornerstone OnDemand in a research note on Thursday, November 9th. Barclays boosted their price objective on shares of Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, November 9th. Finally, B. Riley reduced their price objective on shares of Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Cornerstone OnDemand has a consensus rating of “Hold” and an average target price of $43.56.
Shares of Cornerstone OnDemand (NASDAQ CSOD) traded up $1.13 on Tuesday, hitting $41.99. 721,013 shares of the stock traded hands, compared to its average volume of 550,293. Cornerstone OnDemand has a 52-week low of $33.24 and a 52-week high of $44.25. The stock has a market cap of $2,430.00, a PE ratio of -33.59 and a beta of 0.50.
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 reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Cornerstone OnDemand news, Director R C. Mark Baker sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $36.95, for a total transaction of $110,850.00. Following the transaction, the director now owns 25,850 shares in the company, valued at approximately $955,157.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.60% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Quantbot Technologies LP increased its stake in Cornerstone OnDemand by 153.2% during the 2nd 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 in the last quarter. Ameritas Investment Partners Inc. increased its stake in Cornerstone OnDemand by 5.1% during the 2nd 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 in the last quarter. Trexquant Investment LP acquired a new position in Cornerstone OnDemand during the 3rd quarter valued at approximately $230,000. Amalgamated Bank increased its stake in Cornerstone OnDemand by 8.7% during the 2nd quarter. Amalgamated Bank now owns 6,704 shares of the software maker’s stock valued at $240,000 after purchasing an additional 535 shares in the last quarter. Finally, AHL Partners LLP acquired a new position in Cornerstone OnDemand during the 2nd quarter valued at approximately $255,000. Institutional investors and hedge funds own 93.34% 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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