Cornerstone OnDemand (NASDAQ:CSOD) had its target price hoisted by research analysts at Needham & Company LLC from $48.00 to $55.00 in a research note issued to investors on Wednesday. The brokerage presently has a “strong-buy” rating on the software maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 23.48% from the stock’s current price.
A number of other research firms have also recently commented on CSOD. BidaskClub upgraded shares of Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Piper Jaffray Companies reiterated a “hold” rating and issued a $44.00 target price on shares of Cornerstone OnDemand in a research note on Tuesday, January 23rd. ValuEngine cut shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. William Blair reiterated a “market perform” rating on shares of Cornerstone OnDemand in a research note on Wednesday, February 14th. Finally, Bank of America upgraded shares of Cornerstone OnDemand from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $48.00 in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Cornerstone OnDemand currently has a consensus rating of “Hold” and a consensus target price of $43.78.
Shares of Cornerstone OnDemand (CSOD) opened at $44.54 on Wednesday. The company has a market cap of $2,612.60, a P/E ratio of -41.24 and a beta of 0.55. The company has a debt-to-equity ratio of 12.89, a current ratio of 1.21 and a quick ratio of 1.21. Cornerstone OnDemand has a 12 month low of $33.24 and a 12 month high of $45.87.
In other Cornerstone OnDemand news, CFO Brian L. Swartz sold 13,154 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $43.66, for a total transaction of $574,303.64. Following the completion of the transaction, the chief financial officer now directly owns 207,941 shares of the company’s stock, valued at approximately $9,078,704.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Joseph Carter sold 6,958 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $43.35, for a total transaction of $301,629.30. The disclosure for this sale can be found here. Insiders have sold a total of 88,960 shares of company stock valued at $3,711,874 over the last three months. 12.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC raised its position in Cornerstone OnDemand by 5.4% during the 4th quarter. ARK Investment Management LLC now owns 33,434 shares of the software maker’s stock worth $1,181,000 after buying an additional 1,701 shares during the last quarter. Macquarie Group Ltd. raised its position in Cornerstone OnDemand by 3.9% during the 3rd quarter. Macquarie Group Ltd. now owns 47,049 shares of the software maker’s stock worth $1,911,000 after buying an additional 1,749 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Cornerstone OnDemand by 2.9% during the 3rd quarter. Rhumbline Advisers now owns 62,711 shares of the software maker’s stock valued at $2,547,000 after purchasing an additional 1,770 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Cornerstone OnDemand by 1.9% during the 4th quarter. Teachers Advisors LLC now owns 95,323 shares of the software maker’s stock valued at $3,368,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Cornerstone OnDemand by 19.9% during the 3rd quarter. Aperio Group LLC now owns 11,955 shares of the software maker’s stock valued at $485,000 after purchasing an additional 1,983 shares in the last quarter. 97.62% of the stock is owned by institutional investors.
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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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