Zacks Investment Research cut shares of Cornerstone OnDemand (NASDAQ:CSOD) from a buy rating to a hold rating in a research report report published on Thursday, January 18th.
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. “
Other equities analysts also recently issued reports about the stock. B. Riley cut their price target on shares of Cornerstone OnDemand from $47.00 to $46.00 and set a buy rating on the stock in a report on Friday, November 10th. Credit Suisse Group reissued a buy rating and issued a $49.00 price objective on shares of Cornerstone OnDemand in a research report on Thursday, January 18th. BidaskClub raised shares of Cornerstone OnDemand from a sell rating to a hold rating in a research report on Saturday, January 6th. KeyCorp reissued a hold rating on shares of Cornerstone OnDemand in a research report on Thursday, November 9th. Finally, Piper Jaffray Companies cut shares of Cornerstone OnDemand from an overweight rating to a neutral rating and set a $40.00 price objective for the company. in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $43.56.
Cornerstone OnDemand (NASDAQ CSOD) opened at $38.52 on Thursday. The company has a market cap of $2,172.46, a PE ratio of -30.82 and a beta of 0.57. Cornerstone OnDemand has a fifty-two week low of $33.24 and a fifty-two week high of $44.25.
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 related news, Director R C. Mark Baker sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $34.81, for a total transaction of $104,430.00. Following the completion of the transaction, the director now owns 24,850 shares in the company, valued at approximately $865,028.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam L. Miller sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $41.71, for a total transaction of $1,251,300.00. Following the transaction, the chief executive officer now owns 3,502,640 shares of the company’s stock, valued at approximately $146,095,114.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,000 shares of company stock valued at $1,466,580. 12.60% of the stock is currently owned by company insiders.
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 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 worth $163,000 after acquiring an additional 223 shares during the period. Trexquant Investment LP acquired a new stake in shares of Cornerstone OnDemand in the third quarter worth $230,000. BNP Paribas Arbitrage SA increased its stake 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 worth $231,000 after acquiring an additional 5,448 shares during the period. Finally, Amalgamated Bank increased its stake 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 worth $240,000 after acquiring an additional 535 shares during the period. Institutional investors and hedge funds own 93.75% 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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