Cornerstone OnDemand (CSOD) Price Target Raised to $48.00 at Barclays
Cornerstone OnDemand (NASDAQ:CSOD) had its target price raised by Barclays from $40.00 to $48.00 in a report released on Friday morning. They currently have an underweight rating on the software maker’s stock.
A number of other equities research analysts have also weighed in on CSOD. B. Riley restated a buy rating and issued a $61.00 price objective (up from $52.00) on shares of Cornerstone OnDemand in a report on Friday, August 3rd. BidaskClub upgraded shares of Cornerstone OnDemand from a buy rating to a strong-buy rating in a report on Friday. ValuEngine lowered shares of Cornerstone OnDemand from a buy rating to a hold rating in a report on Wednesday, June 27th. Zacks Investment Research upgraded shares of Cornerstone OnDemand from a hold rating to a buy rating and set a $56.00 price objective for the company in a report on Tuesday, July 10th. Finally, Piper Jaffray Companies restated a buy rating and issued a $65.00 price objective on shares of Cornerstone OnDemand in a report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $54.80.
Shares of CSOD traded up $0.61 during mid-day trading on Friday, reaching $57.29. The company’s stock had a trading volume of 420,167 shares, compared to its average volume of 346,737. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -81.84 and a beta of 0.85. The company has a debt-to-equity ratio of 6.50, a quick ratio of 1.34 and a current ratio of 1.34. Cornerstone OnDemand has a 52 week low of $33.57 and a 52 week high of $58.06.
In related news, CFO Brian L. Swartz sold 2,174 shares of the company’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $57.00, for a total transaction of $123,918.00. Following the completion of the sale, the chief financial officer now directly owns 172,305 shares in the company, valued at approximately $9,821,385. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Goldin sold 7,953 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $47.94, for a total transaction of $381,266.82. The disclosure for this sale can be found here. Insiders have sold a total of 142,284 shares of company stock valued at $7,491,081 over the last quarter. 11.70% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Strs Ohio increased its position in Cornerstone OnDemand by 175.0% during the 2nd quarter. Strs Ohio now owns 3,300 shares of the software maker’s stock valued at $156,000 after purchasing an additional 2,100 shares during the period. Sun Life Financial INC purchased a new position in Cornerstone OnDemand during the 2nd quarter valued at $167,000. Global X Management Co LLC purchased a new position in Cornerstone OnDemand during the 2nd quarter valued at $167,000. Highland Capital Management LP purchased a new position in Cornerstone OnDemand during the 1st quarter valued at $215,000. Finally, Atria Investments LLC purchased a new position in Cornerstone OnDemand during the 2nd quarter valued at $265,000. Institutional investors own 91.72% 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 source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; 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 supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.
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