Piper Jaffray Companies Reaffirms Buy Rating for Cornerstone OnDemand (CSOD)
Piper Jaffray Companies reaffirmed their buy rating on shares of Cornerstone OnDemand (NASDAQ:CSOD) in a research note issued to investors on Wednesday morning. Piper Jaffray Companies currently has a $65.00 target price on the software maker’s stock.
Several other brokerages have also recently commented on CSOD. B. Riley reaffirmed a buy rating and set a $61.00 price objective (up previously from $52.00) on shares of Cornerstone OnDemand in a research note on Friday, August 3rd. ValuEngine cut shares of Cornerstone OnDemand from a buy rating to a hold rating in a research note on Wednesday, June 27th. Zacks Investment Research raised shares of Cornerstone OnDemand from a hold rating to a buy rating and set a $56.00 price objective for the company in a research note on Tuesday, July 10th. BidaskClub cut shares of Cornerstone OnDemand from a strong-buy rating to a buy rating in a research note on Saturday, June 23rd. Finally, Barclays boosted their price objective on shares of Cornerstone OnDemand from $33.00 to $38.00 and gave the company an underweight rating in a research note on Thursday, July 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $54.67.
Shares of Cornerstone OnDemand traded up $0.65, hitting $53.53, during trading hours on Wednesday, according to Marketbeat. The company’s stock had a trading volume of 499,805 shares, compared to its average volume of 576,578. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of -76.47 and a beta of 0.62. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 6.50. Cornerstone OnDemand has a 52-week low of $33.24 and a 52-week high of $55.31.
In other Cornerstone OnDemand news, Director Harold W. Burlingame sold 1,553 shares of Cornerstone OnDemand stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $47.90, for a total transaction of $74,388.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam L. Miller sold 6,000 shares of Cornerstone OnDemand stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $48.26, for a total transaction of $289,560.00. Following the sale, the chief executive officer now owns 3,490,268 shares of the company’s stock, valued at $168,440,333.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,806 shares of company stock valued at $6,709,408. 11.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CSOD. Renaissance Technologies LLC lifted its position in Cornerstone OnDemand by 256.8% during the fourth quarter. Renaissance Technologies LLC now owns 147,000 shares of the software maker’s stock valued at $5,194,000 after purchasing an additional 105,800 shares during the last quarter. Teachers Advisors LLC lifted its position in Cornerstone OnDemand by 1.9% during the fourth quarter. Teachers Advisors LLC now owns 95,323 shares of the software maker’s stock valued at $3,368,000 after purchasing an additional 1,820 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Cornerstone OnDemand during the fourth quarter valued at approximately $848,000. SG Americas Securities LLC lifted its position in Cornerstone OnDemand by 75.2% during the first quarter. SG Americas Securities LLC now owns 6,884 shares of the software maker’s stock valued at $269,000 after purchasing an additional 2,954 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Cornerstone OnDemand by 58.3% during the first quarter. American Century Companies Inc. now owns 61,389 shares of the software maker’s stock valued at $2,401,000 after purchasing an additional 22,609 shares during the last quarter. Institutional investors and hedge funds own 93.62% of the company’s stock.
Cornerstone OnDemand Company Profile
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 source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; 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 supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.
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