Shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) have been assigned an average rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $42.88.
CSOD has been the topic of a number of recent research reports. Bank of America upgraded Cornerstone OnDemand from a “neutral” rating to a “buy” rating and increased their price objective for the company from $42.00 to $48.00 in a research report on Monday, January 22nd. Piper Jaffray Companies lowered Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research report on Thursday, November 9th. KeyCorp reiterated a “hold” rating on shares of Cornerstone OnDemand in a research report on Thursday, November 9th. Zacks Investment Research lowered Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Finally, B. Riley cut their price target on Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 10th.
Cornerstone OnDemand (NASDAQ:CSOD) opened at $40.55 on Tuesday. The company has a market capitalization of $2,350.00, a price-to-earnings ratio of -37.90 and a beta of 0.57. Cornerstone OnDemand has a 12-month low of $33.24 and a 12-month high of $44.25.
Cornerstone OnDemand declared that its board has authorized a share buyback plan on Wednesday, November 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Adam L. Miller sold 30,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $41.71, for a total value of $1,251,300.00. Following the transaction, the chief executive officer now owns 3,502,640 shares of the company’s stock, valued at approximately $146,095,114.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R C. Mark Baker sold 3,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $34.81, for a total value of $104,430.00. Following the completion of the transaction, the director now directly owns 24,850 shares in the company, valued at approximately $865,028.50. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of CSOD. Carillon Tower Advisers Inc. acquired a new stake in Cornerstone OnDemand during the 4th quarter worth $52,352,000. Soma Equity Partners LP raised its stake in Cornerstone OnDemand by 260.3% during the 3rd quarter. Soma Equity Partners LP now owns 898,000 shares of the software maker’s stock worth $36,468,000 after buying an additional 648,773 shares during the period. Alyeska Investment Group L.P. raised its stake in Cornerstone OnDemand by 116.7% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,027,302 shares of the software maker’s stock worth $41,719,000 after buying an additional 553,191 shares during the period. Telemus Capital LLC acquired a new stake in Cornerstone OnDemand during the 4th quarter worth $14,000,000. Finally, Millennium Management LLC raised its stake in Cornerstone OnDemand by 231.6% during the 4th quarter. Millennium Management LLC now owns 509,737 shares of the software maker’s stock worth $18,009,000 after buying an additional 356,032 shares during the period. 96.40% of the stock is currently owned by institutional investors and hedge funds.
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Cornerstone OnDemand Company Profile
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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