Cornerstone OnDemand (NASDAQ:CSOD) Coverage Initiated at Royal Bank of Canada

Research analysts at Royal Bank of Canada initiated coverage on shares of Cornerstone OnDemand (NASDAQ:CSOD) in a note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating on the software maker’s stock.

Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Cornerstone OnDemand from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Bank of America boosted their price objective on shares of Cornerstone OnDemand from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. TheStreet lowered shares of Cornerstone OnDemand from a “c” rating to a “d+” rating in a research report on Tuesday, August 13th. JMP Securities raised their target price on shares of Cornerstone OnDemand from $65.00 to $70.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research raised shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cornerstone OnDemand presently has an average rating of “Buy” and an average price target of $65.71.

CSOD traded up $0.80 during trading on Thursday, reaching $57.89. The company’s stock had a trading volume of 459,500 shares, compared to its average volume of 470,540. The company’s fifty day moving average price is $56.01 and its 200-day moving average price is $55.52. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -251.70 and a beta of 1.10. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.50 and a current ratio of 1.50. Cornerstone OnDemand has a 52-week low of $45.89 and a 52-week high of $62.66.

Cornerstone OnDemand (NASDAQ:CSOD) last released its quarterly earnings data on Tuesday, November 5th. The software maker reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Cornerstone OnDemand had a positive return on equity of 16.33% and a negative net margin of 2.95%. The business had revenue of $145.00 million for the quarter, compared to analyst estimates of $142.06 million. During the same period in the previous year, the company posted $0.23 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that Cornerstone OnDemand will post 0.51 earnings per share for the current year.

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In other Cornerstone OnDemand news, CEO Adam L. Miller sold 21,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $51.83, for a total value of $1,088,430.00. Following the transaction, the chief executive officer now owns 2,209,968 shares in the company, valued at approximately $114,542,641.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dean E. Carter sold 3,064 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.96, for a total transaction of $165,333.44. Following the completion of 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. Over the last ninety days, insiders have sold 124,266 shares of company stock valued at $6,837,662. 9.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CSOD. Nuveen Asset Management LLC acquired a new position in Cornerstone OnDemand in the 2nd quarter worth $30,918,000. First Trust Advisors LP lifted its holdings in Cornerstone OnDemand by 23.2% in the 2nd quarter. First Trust Advisors LP now owns 2,308,446 shares of the software maker’s stock worth $133,728,000 after buying an additional 434,990 shares in the last quarter. Rothschild & Co. Asset Management US Inc. lifted its holdings in Cornerstone OnDemand by 1,509.7% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 442,814 shares of the software maker’s stock worth $25,652,000 after buying an additional 415,305 shares in the last quarter. Man Group plc lifted its holdings in Cornerstone OnDemand by 52.2% in the 2nd quarter. Man Group plc now owns 929,109 shares of the software maker’s stock worth $53,824,000 after buying an additional 318,703 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Cornerstone OnDemand by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,385,836 shares of the software maker’s stock worth $312,002,000 after buying an additional 232,590 shares in the last quarter. Hedge funds and other institutional investors 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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Analyst Recommendations for Cornerstone OnDemand (NASDAQ:CSOD)

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