Cornerstone OnDemand Inc. (CSOD) Stock Rating Reaffirmed by Needham & Company LLC
Cornerstone OnDemand Inc. (NASDAQ:CSOD)‘s stock had its “strong-buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Monday. They currently have a $52.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 18.78% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. B. Riley reiterated a “buy” rating and set a $50.00 price target on shares of Cornerstone OnDemand in a research report on Friday, August 5th. Bank of America Corp. reissued a “buy” rating on shares of Cornerstone OnDemand in a research note on Sunday, July 17th. Zacks Investment Research lowered shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Barclays PLC raised shares of Cornerstone OnDemand from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $32.00 to $44.00 in a research note on Friday, July 15th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $40.00 price objective on shares of Cornerstone OnDemand in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $45.60.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) traded up 0.80% on Monday, reaching $43.95. 152,416 shares of the company’s stock were exchanged. The firm’s market capitalization is $2.46 billion. The firm has a 50 day moving average of $45.15 and a 200 day moving average of $40.26. Cornerstone OnDemand has a one year low of $22.25 and a one year high of $47.75.
In other news, COO Kirsten Maas Helvey sold 2,500 shares of Cornerstone OnDemand stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $44.00, for a total value of $110,000.00. Following the transaction, the chief operating officer now directly owns 76,283 shares of the company’s stock, valued at approximately $3,356,452. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R C. Mark Baker sold 4,000 shares of Cornerstone OnDemand stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $46.90, for a total transaction of $187,600.00. Following the completion of the transaction, the director now directly owns 22,000 shares in the company, valued at $1,031,800. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in CSOD. Hunt Lane Capital LP acquired a new position in shares of Cornerstone OnDemand during the first quarter worth approximately $28,641,000. TIAA CREF Investment Management LLC boosted its position in shares of Cornerstone OnDemand by 25.3% in the first quarter. TIAA CREF Investment Management LLC now owns 219,628 shares of the company’s stock worth $7,197,000 after buying an additional 44,342 shares during the last quarter. State Street Corp boosted its position in shares of Cornerstone OnDemand by 3.6% in the first quarter. State Street Corp now owns 899,118 shares of the company’s stock worth $29,464,000 after buying an additional 31,276 shares during the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of Cornerstone OnDemand during the second quarter worth approximately $1,099,000. Finally, Royal Bank of Canada boosted its position in shares of Cornerstone OnDemand by 318.0% in the first quarter. Royal Bank of Canada now owns 7,529 shares of the company’s stock worth $247,000 after buying an additional 5,728 shares during the last quarter. 90.53% of the stock is currently owned by institutional investors and hedge funds.
About Cornerstone OnDemand
Cornerstone OnDemand, Inc (Cornerstone) is a provider of talent management solutions delivered as Software-as-a-Service (SaaS). Cornerstone’s Enterprise and Mid-Market solution is a cloud-based suite that addresses needs throughout the entire employee lifecycle, from recruitment, onboarding, training and collaboration, to performance management, compensation, succession planning and analytics.
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