Cornerstone OnDemand (NASDAQ:CSOD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, January 17th. The brokerage currently has a $44.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 17.27% from the company’s current price.
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 also recently weighed in on CSOD. B. Riley decreased their price target on Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. JPMorgan Chase & Co. upgraded Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research note on Wednesday, November 8th. Piper Jaffray Companies downgraded Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research report on Thursday, November 9th. KeyCorp reiterated a “hold” rating on shares of Cornerstone OnDemand in a research report on Thursday, November 9th. Finally, BidaskClub upgraded Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Cornerstone OnDemand currently has a consensus rating of “Hold” and an average target price of $43.56.
Cornerstone OnDemand (NASDAQ CSOD) traded up $0.08 during trading hours on Wednesday, hitting $37.52. The stock had a trading volume of 886,968 shares, compared to its average volume of 467,777. The firm has a market capitalization of $2,172.45, a price-to-earnings ratio of -30.02 and a beta of 0.57. Cornerstone OnDemand has a 1-year low of $33.24 and a 1-year high of $44.25.
Cornerstone OnDemand declared that its board has approved a stock buyback plan on Wednesday, November 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
In other Cornerstone OnDemand news, CEO Adam L. Miller sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 3,502,640 shares in the company, valued at $146,095,114.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph P. Payne purchased 3,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were purchased at an average price of $34.32 per share, with a total value of $102,960.00. The disclosure for this purchase can be found here. Insiders sold 36,000 shares of company stock valued at $1,466,580 over the last quarter. Insiders own 12.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP boosted its position in shares of Cornerstone OnDemand by 153.2% in the second quarter. Quantbot Technologies LP now owns 2,874 shares of the software maker’s stock worth $102,000 after buying an additional 1,739 shares during the period. Ameritas Investment Partners Inc. boosted its position 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 buying an additional 223 shares during the period. Trexquant Investment LP purchased a new stake in shares of Cornerstone OnDemand in the third quarter worth about $230,000. BNP Paribas Arbitrage SA boosted its position 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 buying an additional 5,448 shares during the period. Finally, Amalgamated Bank boosted its position 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 buying an additional 535 shares during the period. 93.07% of the stock is owned by institutional investors.
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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