Cornerstone OnDemand, Inc. (CSOD) Shares Gap Down After Analyst Downgrade

Cornerstone OnDemand, Inc. (NASDAQ:CSOD)’s share price gapped down before the market opened on Friday after B. Riley lowered their price target on the stock from $47.00 to $46.00. The stock had previously closed at $34.48, but opened at $34.83. B. Riley currently has a buy rating on the stock. Cornerstone OnDemand shares last traded at $35.08, with a volume of 312648 shares.

Other equities analysts also recently issued reports about the stock. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Cornerstone OnDemand in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Barclays PLC lifted their price objective on shares of Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday. J P Morgan Chase & Co raised shares of Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a report on Wednesday. Finally, Needham & Company LLC raised shares of Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a report on Friday, July 14th. 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 assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.56.

In related news, Director R C. Mark Baker sold 2,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $39.88, for a total value of $79,760.00. Following the sale, the director now directly owns 25,850 shares in the company, valued at approximately $1,030,898. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R C. Mark Baker sold 1,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $34.12, for a total value of $34,120.00. Following the completion of the sale, the director now owns 23,850 shares in the company, valued at $813,762. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock worth $1,429,460 over the last 90 days. 12.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in CSOD. Prudential Financial Inc. bought a new stake in Cornerstone OnDemand in the 1st quarter valued at about $405,000. Principal Financial Group Inc. raised its stake in Cornerstone OnDemand by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 7,211 shares of the software maker’s stock valued at $280,000 after acquiring an additional 96 shares during the period. Teachers Advisors LLC raised its stake in Cornerstone OnDemand by 2.8% in the 1st quarter. Teachers Advisors LLC now owns 85,227 shares of the software maker’s stock valued at $3,314,000 after acquiring an additional 2,287 shares during the period. California Public Employees Retirement System raised its stake in Cornerstone OnDemand by 15.7% in the 1st quarter. California Public Employees Retirement System now owns 30,200 shares of the software maker’s stock valued at $1,174,000 after acquiring an additional 4,100 shares during the period. Finally, Vanguard Group Inc. raised its stake in Cornerstone OnDemand by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 4,230,213 shares of the software maker’s stock valued at $164,513,000 after acquiring an additional 368,783 shares during the period. Institutional investors and hedge funds own 91.34% of the company’s stock.

Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Cornerstone OnDemand had a negative return on equity of 187.39% and a negative net margin of 12.20%. The firm had revenue of $121.80 million for the quarter, compared to analysts’ expectations of $118.95 million. During the same period in the prior year, the business posted $0.11 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. sell-side analysts anticipate that Cornerstone OnDemand, Inc. will post -0.7 EPS for the current year.

Cornerstone OnDemand announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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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.

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