Rhumbline Advisers raised its stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,711 shares of the software maker’s stock after buying an additional 1,770 shares during the period. Rhumbline Advisers owned 0.11% of Cornerstone OnDemand worth $2,547,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Quantbot Technologies LP lifted its holdings in shares of Cornerstone OnDemand by 153.2% during the second quarter. Quantbot Technologies LP now owns 2,874 shares of the software maker’s stock worth $102,000 after purchasing an additional 1,739 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Cornerstone OnDemand by 5.1% during the second quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock worth $163,000 after purchasing an additional 223 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Cornerstone OnDemand by 530.5% during the second quarter. BNP Paribas Arbitrage SA now owns 6,475 shares of the software maker’s stock worth $231,000 after purchasing an additional 5,448 shares during the period. Amalgamated Bank lifted its holdings in shares of Cornerstone OnDemand by 8.7% during the second quarter. Amalgamated Bank now owns 6,704 shares of the software maker’s stock worth $240,000 after purchasing an additional 535 shares during the period. Finally, AHL Partners LLP acquired a new position in shares of Cornerstone OnDemand during the second quarter worth $255,000. Hedge funds and other institutional investors own 95.89% of the company’s stock.
In other Cornerstone OnDemand news, Director Harold W. Burlingame sold 2,000 shares of Cornerstone OnDemand stock in a transaction on Friday, September 15th. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the sale, the director now directly owns 48,150 shares of the company’s stock, valued at $1,926,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph P. Payne purchased 3,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $34.32 per share, with a total value of $102,960.00. The disclosure for this purchase can be found here. Insiders have sold 37,000 shares of company stock valued at $1,506,190 in the last three months. 12.60% of the stock is owned by insiders.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The business had revenue of $121.80 million during the quarter, compared to the consensus estimate of $118.95 million. During the same quarter last year, the firm earned $0.11 earnings per share. Cornerstone OnDemand’s quarterly revenue was up 13.0% on a year-over-year basis. analysts anticipate that Cornerstone OnDemand, Inc. will post -0.66 earnings per share for the current year.
Cornerstone OnDemand announced that its board has authorized a stock repurchase plan on Wednesday, November 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a report on Monday, October 9th. KeyCorp reissued a “hold” rating on shares of Cornerstone OnDemand in a research note on Thursday, November 9th. Piper Jaffray Companies downgraded shares of Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 target price for the company. in a research note on Thursday, November 9th. J P Morgan Chase & Co raised shares of Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research note on Wednesday, November 8th. Finally, Barclays lifted their target price on shares of Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.56.
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Cornerstone OnDemand Company Profile
Cornerstone OnDemand, Inc is a cloud computing company. The Company provides learning and human capital management software, delivered as Software-as-a-Service (SaaS). Its human capital management platform combines the talent management solutions with analytics and human resources (HR) administration solutions to enable organizations to manage the employee lifecycle.
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