Cornerstone OnDemand (NASDAQ:CSOD) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.
Several other analysts have also recently weighed in on the stock. ValuEngine cut shares of Cornerstone OnDemand from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Zacks Investment Research cut shares of Cornerstone OnDemand from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. JMP Securities reiterated a “buy” rating and issued a $65.00 price objective on shares of Cornerstone OnDemand in a research note on Sunday, February 17th. TheStreet upgraded shares of Cornerstone OnDemand from a “d” rating to a “c” rating in a research note on Wednesday, February 13th. Finally, Bank of America lifted their price objective on shares of Cornerstone OnDemand from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Cornerstone OnDemand presently has an average rating of “Buy” and an average price target of $62.36.
Shares of Cornerstone OnDemand stock opened at $52.91 on Tuesday. Cornerstone OnDemand has a twelve month low of $45.89 and a twelve month high of $60.19. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 4.88. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -230.04 and a beta of 1.05.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its quarterly earnings data on Tuesday, May 7th. The software maker reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.23). Cornerstone OnDemand had a negative return on equity of 15.15% and a negative net margin of 3.87%. The business had revenue of $140.10 million during the quarter, compared to analyst estimates of $135.51 million. During the same quarter last year, the firm earned $0.13 EPS. Cornerstone OnDemand’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Cornerstone OnDemand will post -0.07 EPS for the current fiscal year.
In other news, Director Harold W. Burlingame sold 1,552 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $55.08, for a total value of $85,484.16. Following the completion of the transaction, the director now directly owns 53,326 shares in the company, valued at approximately $2,937,196.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam L. Miller sold 21,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $51.81, for a total transaction of $1,088,010.00. Following the completion of the transaction, the chief executive officer now owns 2,339,658 shares of the company’s stock, valued at $121,217,680.98. The disclosure for this sale can be found here. Insiders sold a total of 115,399 shares of company stock valued at $6,208,984 over the last 90 days. Corporate insiders own 9.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. New York State Common Retirement Fund increased its position in Cornerstone OnDemand by 31.8% during the 4th quarter. New York State Common Retirement Fund now owns 237,236 shares of the software maker’s stock worth $11,964,000 after purchasing an additional 57,242 shares in the last quarter. Ramsey Quantitative Systems bought a new stake in Cornerstone OnDemand during the 4th quarter worth approximately $261,000. Public Employees Retirement System of Ohio bought a new stake in Cornerstone OnDemand during the 4th quarter worth approximately $2,769,000. Prudential Financial Inc. grew its holdings in Cornerstone OnDemand by 2,201.8% during the 4th quarter. Prudential Financial Inc. now owns 253,845 shares of the software maker’s stock worth $12,802,000 after acquiring an additional 242,817 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Cornerstone OnDemand by 4.6% during the 4th quarter. BlackRock Inc. now owns 3,931,599 shares of the software maker’s stock worth $198,271,000 after acquiring an additional 171,143 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.
About Cornerstone OnDemand
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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