Royal Bank of Canada Initiates Coverage on Cornerstone OnDemand (NASDAQ:CSOD)

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

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday. Mizuho began coverage on shares of Cornerstone OnDemand in a report on Wednesday, August 21st. They set a “buy” rating and a $65.00 target price for the company. ValuEngine lowered shares of Cornerstone OnDemand from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Bank of America increased their target price on shares of Cornerstone OnDemand from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, TheStreet lowered shares of Cornerstone OnDemand from a “c” rating to a “d+” rating in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $64.38.

CSOD opened at $57.29 on Thursday. The stock has a market cap of $3.57 billion, a PE ratio of -249.09 and a beta of 1.10. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.76. Cornerstone OnDemand has a 52 week low of $45.89 and a 52 week high of $62.66. The business’s fifty day simple moving average is $55.91 and its 200 day simple moving average is $55.47.

Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings data on Tuesday, November 5th. The software maker reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. Cornerstone OnDemand had a negative return on equity of 11.18% and a negative net margin of 3.23%. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $142.06 million. During the same period last year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that Cornerstone OnDemand will post 0.47 earnings per share for the current year.

In other Cornerstone OnDemand news, CEO Adam L. Miller sold 21,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 2,209,968 shares in the company, valued at $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 firm’s stock in a transaction dated 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 sale, the director now owns 24,310 shares of the company’s stock, valued at $1,311,767.60. The disclosure for this sale can be found here. Insiders sold 145,266 shares of company stock valued at $7,986,782 over the last 90 days. 9.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CSOD. Massachusetts Financial Services Co. MA increased its stake in shares of Cornerstone OnDemand by 12.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 93,279 shares of the software maker’s stock valued at $5,114,000 after purchasing an additional 10,409 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Cornerstone OnDemand by 6,557.1% during the third quarter. Tower Research Capital LLC TRC now owns 2,330 shares of the software maker’s stock valued at $127,000 after purchasing an additional 2,295 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Cornerstone OnDemand by 144.9% during the third quarter. SG Americas Securities LLC now owns 8,399 shares of the software maker’s stock valued at $460,000 after purchasing an additional 4,969 shares in the last quarter. Tibra Equities Europe Ltd bought a new position in shares of Cornerstone OnDemand during the third quarter valued at approximately $559,000. Finally, Mackay Shields LLC increased its stake in shares of Cornerstone OnDemand by 34.3% during the third quarter. Mackay Shields LLC now owns 59,519 shares of the software maker’s stock valued at $3,263,000 after purchasing an additional 15,200 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Cornerstone OnDemand Company Profile

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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