B. Riley Comments on Cornerstone OnDemand, Inc.’s FY2019 Earnings (CSOD)
Cornerstone OnDemand, Inc. (NASDAQ:CSOD) – Equities research analysts at B. Riley issued their FY2019 EPS estimates for Cornerstone OnDemand in a research report issued to clients and investors on Thursday. B. Riley analyst K. Liu expects that the software maker will earn ($0.07) per share for the year. B. Riley currently has a “Buy” rating and a $46.00 target price on the stock.
Several other research analysts have also recently weighed in on the company. BidaskClub upgraded Cornerstone OnDemand from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Credit Suisse Group upgraded Cornerstone OnDemand from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $43.00 to $49.00 in a research note on Wednesday, July 19th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $46.00 price objective (down previously from $50.00) on shares of Cornerstone OnDemand in a research report on Friday, August 4th. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of Cornerstone OnDemand in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered Cornerstone OnDemand from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $43.56.
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Shares of Cornerstone OnDemand (CSOD) traded down $0.59 on Monday, reaching $34.17. The company’s stock had a trading volume of 1,005,900 shares, compared to its average volume of 636,353. Cornerstone OnDemand has a 12 month low of $32.88 and a 12 month high of $44.25.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. Cornerstone OnDemand had a negative return on equity of 173.27% and a negative net margin of 15.45%. The firm had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $118.95 million. During the same quarter last year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis.
Several large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of Cornerstone OnDemand by 1.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,306 shares of the software maker’s stock valued at $261,000 after buying an additional 95 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of 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 acquiring an additional 223 shares during the period. Prudential Financial Inc. lifted its stake in Cornerstone OnDemand by 2.5% during the second quarter. Prudential Financial Inc. now owns 10,678 shares of the software maker’s stock valued at $382,000 after purchasing an additional 260 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Cornerstone OnDemand by 0.8% during the second quarter. Macquarie Group Ltd. now owns 45,300 shares of the software maker’s stock valued at $1,619,000 after purchasing an additional 344 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Cornerstone OnDemand by 8.7% during the second quarter. Amalgamated Bank now owns 6,704 shares of the software maker’s stock valued at $240,000 after purchasing an additional 535 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Adam L. Miller sold 24,000 shares of Cornerstone OnDemand stock in a transaction on Monday, September 18th. The shares were sold at an average price of $41.28, for a total transaction of $990,720.00. Following the transaction, the chief executive officer now owns 3,539,587 shares in the company, valued at approximately $146,114,151.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R C. Mark Baker sold 1,000 shares of Cornerstone OnDemand stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.12, for a total transaction of $34,120.00. Following the transaction, the director now owns 23,850 shares in the company, valued at approximately $813,762. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,000 shares of company stock worth $1,429,460. 12.60% of the stock is owned by company insiders.
Cornerstone OnDemand announced that its board has approved a stock repurchase plan 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. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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.
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