Cornerstone OnDemand, Inc. (NASDAQ:CSOD) – Equities researchers at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for shares of Cornerstone OnDemand in a research report issued to clients and investors on Wednesday. KeyCorp analyst B. Bracelin expects that the software maker will earn ($0.22) per share for the quarter. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Cornerstone OnDemand’s Q2 2018 earnings at ($0.16) EPS, Q3 2018 earnings at ($0.08) EPS, Q4 2018 earnings at $0.03 EPS and FY2018 earnings at ($0.43) EPS.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $131.96 million during the quarter, compared to analysts’ expectations of $132.12 million. Cornerstone OnDemand had a negative return on equity of 130.79% and a negative net margin of 12.73%.
A number of other analysts have also issued reports on the stock. William Blair reissued a “market perform” rating on shares of Cornerstone OnDemand in a research report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Cornerstone OnDemand from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. ValuEngine lowered shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Piper Jaffray Companies reissued a “hold” rating and issued a $44.00 price target on shares of Cornerstone OnDemand in a research report on Tuesday, January 23rd. Finally, Bank of America raised shares of Cornerstone OnDemand from a “neutral” rating to a “buy” rating and increased their price target for the stock from $42.00 to $48.00 in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.00.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) opened at $40.72 on Monday. Cornerstone OnDemand has a 52-week low of $33.24 and a 52-week high of $44.25.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. J. Goldman & Co LP acquired a new position in Cornerstone OnDemand during the fourth quarter valued at approximately $201,000. MetLife Investment Advisors LLC acquired a new position in Cornerstone OnDemand during the fourth quarter valued at approximately $848,000. Tensile Capital Management LLC grew its holdings in Cornerstone OnDemand by 7.2% during the fourth quarter. Tensile Capital Management LLC now owns 1,636,868 shares of the software maker’s stock valued at $57,831,000 after purchasing an additional 109,876 shares during the last quarter. Element Capital Management LLC acquired a new position in Cornerstone OnDemand during the fourth quarter valued at approximately $4,099,000. Finally, Millennium Management LLC grew its holdings in Cornerstone OnDemand by 231.6% during the fourth quarter. Millennium Management LLC now owns 509,737 shares of the software maker’s stock valued at $18,009,000 after purchasing an additional 356,032 shares during the last quarter. 96.40% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director R C. Mark Baker sold 3,000 shares of the firm’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 transaction, the director now owns 24,850 shares of the company’s stock, valued at $865,028.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam L. Miller sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were 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 directly owns 3,502,640 shares in the company, valued at approximately $146,095,114.40. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by company insiders.
Cornerstone OnDemand declared that its Board of Directors has approved a stock repurchase 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 reacquire shares of its stock through open market purchases. Stock buyback plans are usually 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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