Needham & Company LLC reissued their strong-buy rating on shares of Cornerstone OnDemand Inc. (NASDAQ:CSOD) in a research note issued to investors on Monday. The brokerage currently has a $52.00 price target on the stock.
A number of other equities research analysts have also recently commented on the stock. First Analysis raised their price target on shares of Cornerstone OnDemand from $50.00 to $54.00 and gave the stock an overweight rating in a report on Tuesday, September 6th. Piper Jaffray Cos. began coverage on shares of Cornerstone OnDemand in a report on Thursday, September 1st. They issued an overweight rating and a $53.00 price target for the company. Zacks Investment Research upgraded shares of Cornerstone OnDemand from a sell rating to a hold rating in a report on Wednesday, August 10th. B. Riley restated a buy rating and issued a $50.00 price target on shares of Cornerstone OnDemand in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. reiterated a buy rating and set a $40.00 price objective on shares of Cornerstone OnDemand in a report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $45.60.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) opened at 41.35 on Monday. The stock has a 50 day moving average of $45.02 and a 200-day moving average of $40.48. Cornerstone OnDemand has a one year low of $22.25 and a one year high of $47.75. The company’s market capitalization is $2.31 billion.
In other Cornerstone OnDemand news, insider David Joseph Carter sold 8,820 shares of Cornerstone OnDemand stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $43.97, for a total value of $387,815.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Kirsten Maas Helvey sold 2,500 shares of Cornerstone OnDemand stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $44.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief operating officer now directly owns 76,283 shares in the company, valued at approximately $3,356,452. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in Cornerstone OnDemand by 151.9% in the first quarter. BlackRock Inc. now owns 3,836 shares of the company’s stock valued at $126,000 after buying an additional 2,313 shares during the last quarter. Strs Ohio increased its position in Cornerstone OnDemand by 173.3% in the second quarter. Strs Ohio now owns 4,100 shares of the company’s stock valued at $156,000 after buying an additional 2,600 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Cornerstone OnDemand by 113.9% in the third quarter. BNP Paribas Arbitrage SA now owns 4,166 shares of the company’s stock valued at $191,000 after buying an additional 2,218 shares during the last quarter. HBK Investments L P acquired a new position in Cornerstone OnDemand during the first quarter valued at $206,000. Finally, Amalgamated Bank acquired a new position in Cornerstone OnDemand during the second quarter valued at $237,000. 90.53% of the stock is currently owned by institutional investors and hedge funds.
Cornerstone OnDemand Company Profile
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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