 Shares of Cornerstone OnDemand Inc. took a 5.0 hit in morning trading Monday, after BofA Securities analyst Brad Sills swung to bearish from bullish on the learning and talent management software company, citing growing execution and competitive risks. Sills downgraded the stock to underperform from buy, and cut his stock price target to 36 from 46. Sills said the stock is trading at a steep discount to its software peers, there is potential for subscription acceleration and margin expansion from merger cost synergies. However, with Cornerstones focus on building the Content Anytime library in recent years, channel feedback suggests growing customer dissatisfaction stemming from lacking innovation in the core learning and performance suite particularly lacking next generation learning experience platform offerings, Sills wrote in a note to clients. The stock has dropped 41.2 year to date, while the SPDR SP Software Services ETF has climbed 11.0 and the SP 500 has inched up 0.1. 