Piper Jaffray Companies downgraded shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) from an overweight rating to a neutral rating in a report published on Thursday, Marketbeat reports. Piper Jaffray Companies currently has $40.00 price target on the software maker’s stock.

Several other equities research analysts have also commented on CSOD. B. Riley restated a buy rating and issued a $47.00 price target on shares of Cornerstone OnDemand in a research note on Friday, August 4th. Mitsubishi UFJ Financial Group restated a neutral rating on shares of Cornerstone OnDemand in a research note on Thursday, August 3rd. J P Morgan Chase & Co upgraded shares of Cornerstone OnDemand from an underweight rating to a neutral rating in a research note on Wednesday, November 8th. Zacks Investment Research cut shares of Cornerstone OnDemand from a hold rating to a sell rating in a report on Wednesday, November 8th. Finally, BidaskClub upgraded shares of Cornerstone OnDemand from a sell rating to a hold rating in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $43.56.

Shares of Cornerstone OnDemand (NASDAQ:CSOD) opened at $34.76 on Thursday. Cornerstone OnDemand has a 12 month low of $32.88 and a 12 month high of $44.25.

Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The company had revenue of $121.80 million for the quarter, compared to analyst estimates of $118.95 million. During the same quarter last year, the business earned $0.11 earnings per share. Cornerstone OnDemand’s revenue was up 13.0% compared to the same quarter last year. sell-side analysts expect that Cornerstone OnDemand will post -0.69 earnings per share for the current fiscal year.

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Cornerstone OnDemand announced that its Board of Directors has authorized a share buyback program on Wednesday, November 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In related news, Director Harold W. Burlingame sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the sale, the director now directly owns 48,150 shares in the company, valued at $1,926,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director R C. Mark Baker sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $34.12, for a total transaction of $34,120.00. Following the sale, the director now owns 23,850 shares of the company’s stock, valued at $813,762. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $1,429,460 over the last 90 days. 12.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Quantbot Technologies LP boosted its stake in Cornerstone OnDemand by 153.2% in the 2nd quarter. Quantbot Technologies LP now owns 2,874 shares of the software maker’s stock worth $102,000 after purchasing an additional 1,739 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Cornerstone OnDemand by 5.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock worth $163,000 after purchasing an additional 223 shares during the period. Gradient Investments LLC acquired a new position in Cornerstone OnDemand in the 2nd quarter worth approximately $177,000. Oppenheimer Asset Management Inc. acquired a new position in Cornerstone OnDemand in the 1st quarter worth approximately $219,000. Finally, Trexquant Investment LP acquired a new position in Cornerstone OnDemand in the 3rd quarter worth approximately $230,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

About Cornerstone OnDemand

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.

Analyst Recommendations for Cornerstone OnDemand (NASDAQ:CSOD)

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