Zacks Investment Research Upgrades Cornerstone OnDemand (NASDAQ:CSOD) to “Buy”
Cornerstone OnDemand (NASDAQ:CSOD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $64.00 price target on the software maker’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.55% from the stock’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. “
Other equities analysts have also issued research reports about the stock. Mizuho began coverage on shares of Cornerstone OnDemand in a report on Wednesday, August 21st. They issued a “buy” rating and a $65.00 price target on the stock. ValuEngine lowered shares of Cornerstone OnDemand from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. JMP Securities lifted their price target on shares of Cornerstone OnDemand from $65.00 to $70.00 and gave the company a “market outperform” rating in a report on Tuesday, August 6th. TheStreet lowered shares of Cornerstone OnDemand from a “c” rating to a “d+” rating in a report on Tuesday, August 13th. Finally, BidaskClub lowered shares of Cornerstone OnDemand from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.38.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings results on Tuesday, November 5th. The software maker reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The company had revenue of $145.00 million for the quarter, compared to analyst estimates of $142.06 million. Cornerstone OnDemand had a negative net margin of 2.95% and a positive return on equity of 16.33%. Cornerstone OnDemand’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. As a group, sell-side analysts anticipate that Cornerstone OnDemand will post 0.51 EPS for the current year.
In related news, CEO Adam L. Miller sold 38,722 shares of Cornerstone OnDemand stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $59.08, for a total transaction of $2,287,695.76. Following the transaction, the chief executive officer now owns 2,108,555 shares in the company, valued at approximately $124,573,429.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dean E. Carter sold 3,064 shares of Cornerstone OnDemand stock in a transaction on Monday, August 12th. The shares were sold at an average price of $53.96, for a total transaction of $165,333.44. Following the transaction, the director now owns 24,310 shares in the company, valued at approximately $1,311,767.60. The disclosure for this sale can be found here. Insiders have sold a total of 124,266 shares of company stock worth $6,837,662 in the last 90 days. Company insiders own 9.40% of the company’s stock.
Several large investors have recently bought and sold shares of CSOD. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Cornerstone OnDemand by 25.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 31,283 shares of the software maker’s stock valued at $1,713,000 after acquiring an additional 6,313 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Cornerstone OnDemand in the 2nd quarter worth $154,000. Hexavest Inc. acquired a new position in Cornerstone OnDemand in the 2nd quarter worth $279,000. Bessemer Group Inc. lifted its holdings in Cornerstone OnDemand by 191.2% in the 2nd quarter. Bessemer Group Inc. now owns 79,200 shares of the software maker’s stock worth $4,588,000 after buying an additional 52,000 shares in the last quarter. Finally, Summit Creek Advisors LLC acquired a new position in Cornerstone OnDemand in the 2nd quarter worth $1,448,000. Institutional investors and hedge funds own 92.36% 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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