BidaskClub upgraded shares of Cornerstone OnDemand (NASDAQ:CSOD) from a sell rating to a hold rating in a research report released on Friday, BidAskClub reports.
A number of other analysts have also recently issued reports on the company. JMP Securities increased their price objective on Cornerstone OnDemand from $65.00 to $70.00 and gave the stock a market outperform rating in a report on Tuesday, August 6th. Bank of America increased their price objective on Cornerstone OnDemand from $68.00 to $70.00 and gave the stock a buy rating in a report on Monday, September 9th. Zacks Investment Research raised Cornerstone OnDemand from a hold rating to a buy rating and set a $60.00 price target on the stock in a report on Thursday, August 8th. Guggenheim began coverage on Cornerstone OnDemand in a report on Thursday, June 27th. They issued a buy rating on the stock. Finally, ValuEngine cut Cornerstone OnDemand from a buy rating to a hold rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Cornerstone OnDemand has a consensus rating of Buy and an average price target of $64.44.
Shares of CSOD opened at $56.06 on Friday. The stock’s 50-day simple moving average is $54.15 and its 200 day simple moving average is $55.16. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -243.74 and a beta of 1.12. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.50 and a current ratio of 1.50. Cornerstone OnDemand has a 52-week low of $45.89 and a 52-week high of $62.66.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its quarterly earnings data on Monday, August 5th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The company had revenue of $141.90 million for the quarter, compared to analysts’ expectations of $138.83 million. Cornerstone OnDemand had a negative return on equity of 11.18% and a negative net margin of 3.23%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. On average, research analysts forecast that Cornerstone OnDemand will post 0.47 earnings per share for the current fiscal year.
In related news, Director Dean E. Carter sold 3,064 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.96, for a total transaction of $165,333.44. Following the transaction, the director now directly owns 24,310 shares of the company’s stock, valued at approximately $1,311,767.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mark Goldin sold 6,902 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $58.21, for a total value of $401,765.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,510 shares of company stock worth $11,238,841. Insiders own 9.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Cornerstone OnDemand by 18.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 480,808 shares of the software maker’s stock valued at $27,854,000 after buying an additional 75,833 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Cornerstone OnDemand during the 1st quarter valued at about $319,000. GWM Advisors LLC purchased a new position in shares of Cornerstone OnDemand during the 2nd quarter valued at about $372,000. Clearbridge Investments LLC raised its holdings in shares of Cornerstone OnDemand by 9.6% during the 1st quarter. Clearbridge Investments LLC now owns 3,204,826 shares of the software maker’s stock valued at $175,560,000 after buying an additional 281,615 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Cornerstone OnDemand by 60.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 179,595 shares of the software maker’s stock valued at $10,404,000 after buying an additional 67,725 shares in the last quarter. 92.16% of the stock is currently owned by institutional investors.
Cornerstone OnDemand Company Profile
Cornerstone OnDemand, Inc, together with its subsidiaries, provides learning and human capital management software through software-as-a-service model worldwide. Its enterprise human capital management platform comprises four product suites, such as Recruiting Suite that helps organizations to attract, hire, and onboard the right employees; Learning Suite, which provides robust, a modern learning management software to supports compliance, knowledge sharing, and employee-driven development training; Performance Suite that provides tools to manage goal setting, performance reviews, competency assessments, development plans, continuous feedback, compensation management, and succession planning; and HR Administration Suite, which provides an aggregated view of all employee data with workforce planning, self-service management, and compliance reporting capabilities.
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