Cornerstone OnDemand (CSOD) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Cornerstone OnDemand (NASDAQ:CSOD) from a buy rating to a hold rating in a research report report published on Friday morning.

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 research firms have also weighed in on CSOD. KeyCorp reissued a hold rating on shares of Cornerstone OnDemand in a research report on Thursday, November 9th. Piper Jaffray Companies lowered shares of Cornerstone OnDemand from an overweight rating to a neutral rating and set a $40.00 target price for the company. in a research report on Thursday, November 9th. BidaskClub raised shares of Cornerstone OnDemand from a sell rating to a hold rating in a research report on Saturday, January 6th. JPMorgan Chase & Co. raised shares of Cornerstone OnDemand from an underweight rating to a neutral rating in a research report on Wednesday, November 8th. Finally, Barclays boosted their target price on shares of Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an underweight rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cornerstone OnDemand currently has a consensus rating of Hold and a consensus price target of $42.78.

Cornerstone OnDemand (CSOD) traded up $0.25 during trading on Friday, reaching $39.17. 557,100 shares of the company’s stock were exchanged, compared to its average volume of 541,378. The firm has a market cap of $2,268.00, a price-to-earnings ratio of -31.34 and a beta of 0.50. Cornerstone OnDemand has a 52-week low of $33.24 and a 52-week high of $44.25.

Cornerstone OnDemand (NASDAQ:CSOD) last released its earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The firm had revenue of $121.80 million during the quarter, compared to analyst estimates of $118.95 million. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. research analysts predict that Cornerstone OnDemand will post -0.66 earnings per share for the current year.

Cornerstone OnDemand declared that its board has initiated 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 reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

In other Cornerstone OnDemand news, Director Joseph P. Payne bought 3,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average price of $34.32 per share, with a total value of $102,960.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R C. Mark Baker sold 2,000 shares of the company’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 directly owns 25,850 shares in the company, valued at approximately $1,030,898. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,000 shares of company stock worth $295,040. Insiders own 12.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in Cornerstone OnDemand by 1.3% in the second quarter. Principal Financial Group Inc. now owns 7,306 shares of the software maker’s stock valued at $261,000 after acquiring an additional 95 shares during the period. Ameritas Investment Partners Inc. increased its stake in Cornerstone OnDemand by 5.1% in the second quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock valued at $163,000 after acquiring an additional 223 shares during the period. Prudential Financial Inc. increased its stake in Cornerstone OnDemand by 2.5% in the second quarter. Prudential Financial Inc. now owns 10,678 shares of the software maker’s stock valued at $382,000 after acquiring an additional 260 shares during the period. Macquarie Group Ltd. increased its stake in Cornerstone OnDemand by 0.8% in the second quarter. Macquarie Group Ltd. now owns 45,300 shares of the software maker’s stock valued at $1,619,000 after acquiring an additional 344 shares during the period. Finally, Amalgamated Bank increased its stake in Cornerstone OnDemand by 8.7% in the second quarter. Amalgamated Bank now owns 6,704 shares of the software maker’s stock valued at $240,000 after acquiring an additional 535 shares during the period. 95.76% of the stock is currently owned by institutional investors and hedge funds.

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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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