Cornerstone OnDemand, Inc. (CSOD) Price Target Raised to $33.00 at Barclays PLC
Cornerstone OnDemand, Inc. (NASDAQ:CSOD) had its target price upped by Barclays PLC from $32.00 to $33.00 in a report issued on Thursday. Barclays PLC currently has an underweight rating on the software maker’s stock.
CSOD has been the topic of a number of other research reports. Zacks Investment Research upgraded Cornerstone OnDemand from a sell rating to a hold rating in a report on Monday, October 9th. Piper Jaffray Companies lowered Cornerstone OnDemand from an overweight rating to a neutral rating and set a $40.00 price objective on the stock. in a report on Thursday. KeyCorp restated a hold rating on shares of Cornerstone OnDemand in a report on Thursday. BidaskClub upgraded Cornerstone OnDemand from a sell rating to a hold rating in a report on Wednesday, July 19th. Finally, Credit Suisse Group upgraded Cornerstone OnDemand from a neutral rating to an outperform rating and raised their price objective for the company from $43.00 to $49.00 in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $43.56.
Shares of Cornerstone OnDemand (CSOD) traded down $0.07 during mid-day trading on Thursday, reaching $34.76. The company’s stock had a trading volume of 1,082,000 shares, compared to its average volume of 634,657. Cornerstone OnDemand has a 12 month low of $32.88 and a 12 month high of $44.25.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $121.80 million for the quarter, compared to analyst estimates of $118.95 million. Cornerstone OnDemand had a negative return on equity of 187.39% and a negative net margin of 12.20%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. equities research analysts forecast that Cornerstone OnDemand will post -0.7 earnings per share for the current fiscal year.
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Cornerstone OnDemand declared that its board has approved a stock repurchase program on Wednesday, November 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, Director R C. Mark Baker sold 1,000 shares of Cornerstone OnDemand stock in a transaction on Monday, August 21st. The stock was sold at an average price of $34.12, for a total transaction of $34,120.00. Following the transaction, the director now owns 23,850 shares in the company, valued at approximately $813,762. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R C. Mark Baker sold 2,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $39.88, for a total transaction of $79,760.00. Following the completion of the sale, the director now owns 25,850 shares in the company, valued at $1,030,898. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,000 shares of company stock worth $1,429,460. Insiders own 12.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP raised its holdings in Cornerstone OnDemand by 153.2% in the 2nd quarter. Quantbot Technologies LP now owns 2,874 shares of the software maker’s stock valued at $102,000 after buying an additional 1,739 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Cornerstone OnDemand by 5.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock valued at $163,000 after buying an additional 223 shares during the period. Gradient Investments LLC purchased a new stake in Cornerstone OnDemand in the 2nd quarter valued at about $177,000. Oppenheimer Asset Management Inc. purchased a new stake in Cornerstone OnDemand in the 1st quarter valued at about $219,000. Finally, Trexquant Investment LP purchased a new stake in Cornerstone OnDemand in the 3rd quarter valued at about $230,000. Hedge funds and other institutional investors own 91.34% of the company’s stock.
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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