More On Cornerstone OnDemand (CSOD)

Cornerstone On Demand CSOD is trading sharply higher today, gaining some 50% to around $19 after the software-as-a-service (SaaS) company went public today.

The company is based in California, and delivers its human resources software on a subscription basis to more than 480 clients using its product in 23 different languages in 164 countries. Some major customers include, Starwood Hotels
& Resorts Worldwide Inc. HOT, the state of Nebraska, and Barclays Bank PLC BCS.

The company reported a 49% increase in revenues last year, reporting sales of $43.7 million. Net losses have been jumping, going from $8.4 million in 2009 to a loss of $48.4 million in 2010.

Goldman Sachs Group and Barclays Capital were the underwriters on the deal.

At last check, shares were trading at $19.05, down from the high of $19.50 earlier in the session.