Needham & Company LLC Reiterates Strong-Buy Rating for Cornerstone OnDemand Inc. (CSOD)
Cornerstone OnDemand Inc. (NASDAQ:CSOD)‘s stock had its “strong-buy” rating reiterated by Needham & Company LLC in a report issued on Monday. They currently have a $52.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 22.18% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $42.00 target price on shares of Cornerstone OnDemand in a research report on Monday, August 1st. Goldman Sachs Group Inc. lifted their target price on Cornerstone OnDemand from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Wunderlich lifted their target price on Cornerstone OnDemand from $42.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Barclays PLC raised Cornerstone OnDemand from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $32.00 to $44.00 in a research report on Friday, July 15th. Finally, First Analysis started coverage on Cornerstone OnDemand in a research report on Friday, July 1st. They issued an “overweight” rating and a $50.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $45.60.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) opened at 42.56 on Monday. Cornerstone OnDemand has a 52 week low of $22.25 and a 52 week high of $47.75. The stock’s 50 day moving average is $45.12 and its 200-day moving average is $40.48. The stock’s market capitalization is $2.38 billion.
In related news, COO Kirsten Maas Helvey sold 6,084 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $46.00, for a total transaction of $279,864.00. Following the completion of the sale, the chief operating officer now owns 70,199 shares in the company, valued at $3,229,154. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director R C. Mark Baker sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $46.90, for a total value of $187,600.00. Following the sale, the director now owns 22,000 shares of the company’s stock, valued at approximately $1,031,800. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. RGM Capital LLC boosted its stake in Cornerstone OnDemand by 102.5% in the first quarter. RGM Capital LLC now owns 2,253,772 shares of the company’s stock valued at $73,856,000 after buying an additional 1,140,639 shares during the last quarter. Hunt Lane Capital LP purchased a new stake in shares of Cornerstone OnDemand during the first quarter worth $28,641,000. RS Investment Management Co. LLC purchased a new stake in shares of Cornerstone OnDemand during the second quarter worth $13,813,000. Telemus Capital LLC purchased a new stake in shares of Cornerstone OnDemand during the second quarter worth $5,565,000. Finally, Moore Capital Management LP purchased a new stake in shares of Cornerstone OnDemand during the first quarter worth $4,752,000. Hedge funds and other institutional investors own 90.53% of the company’s stock.
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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