Zacks Investment Research Downgrades Cornerstone OnDemand, Inc. (NASDAQ:CSOD) to Sell
Cornerstone OnDemand, Inc. (NASDAQ:CSOD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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. “
A number of other analysts have also recently commented on CSOD. Needham & Company LLC reissued a “buy” rating and set a $48.00 target price on shares of Cornerstone OnDemand in a research note on Wednesday, April 19th. B. Riley reissued a “buy” rating and set a $47.00 target price on shares of Cornerstone OnDemand in a research note on Wednesday, May 3rd. Credit Suisse Group reissued a “hold” rating and set a $43.00 target price on shares of Cornerstone OnDemand in a research note on Friday, May 5th. Wells Fargo & Company started coverage on shares of Cornerstone OnDemand in a research note on Thursday, May 11th. They set a “market perform” rating and a $37.00 target price for the company. Finally, Barclays PLC cut shares of Cornerstone OnDemand from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $46.00 to $32.00 in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $44.43.
Shares of Cornerstone OnDemand (NASDAQ CSOD) traded up 0.78% on Wednesday, hitting $34.99. The stock had a trading volume of 1,073,230 shares. The firm’s 50-day moving average price is $37.49 and its 200 day moving average price is $38.92. Cornerstone OnDemand has a 12 month low of $30.31 and a 12 month high of $47.75. The firm’s market cap is $1.99 billion.
Cornerstone OnDemand (NASDAQ:CSOD) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.09. The company had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $117 million. Cornerstone OnDemand had a negative return on equity of 182.51% and a negative net margin of 15.39%. Cornerstone OnDemand’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Cornerstone OnDemand will post $0.39 EPS for the current fiscal year.
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In other news, Director R C. Mark Baker sold 1,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $36.91, for a total value of $36,910.00. Following the completion of the sale, the director now owns 19,000 shares of the company’s stock, valued at approximately $701,290. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Vincent Belliveau sold 11,660 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $40.00, for a total transaction of $466,400.00. Following the completion of the sale, the executive vice president now directly owns 237,043 shares of the company’s stock, valued at approximately $9,481,720. The disclosure for this sale can be found here. In the last three months, insiders sold 97,820 shares of company stock valued at $3,668,934. Corporate insiders own 12.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP purchased a new stake in Cornerstone OnDemand during the first quarter valued at $237,000. Karp Capital Management Corp purchased a new stake in Cornerstone OnDemand during the first quarter valued at $355,000. Swiss National Bank boosted its stake in Cornerstone OnDemand by 1.1% in the first quarter. Swiss National Bank now owns 88,300 shares of the software maker’s stock valued at $3,434,000 after buying an additional 1,000 shares during the period. First Trust Advisors LP boosted its stake in Cornerstone OnDemand by 4.6% in the first quarter. First Trust Advisors LP now owns 1,228,904 shares of the software maker’s stock valued at $47,792,000 after buying an additional 54,405 shares during the period. Finally, Essex Investment Management Co. LLC boosted its stake in Cornerstone OnDemand by 24.5% in the first quarter. Essex Investment Management Co. LLC now owns 27,243 shares of the software maker’s stock valued at $1,059,000 after buying an additional 5,355 shares during the period. 90.52% of the stock is owned by institutional investors and hedge funds.
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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