Russell Investments Group Ltd. trimmed its position in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,909 shares of the software maker’s stock after selling 35,434 shares during the quarter. Russell Investments Group Ltd. owned about 0.55% of Cornerstone OnDemand worth $12,473,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its position in Cornerstone OnDemand by 2.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 257,740 shares of the software maker’s stock worth $9,106,000 after buying an additional 5,200 shares during the last quarter. Aperio Group LLC lifted its position in shares of Cornerstone OnDemand by 19.8% during the fourth quarter. Aperio Group LLC now owns 14,326 shares of the software maker’s stock worth $506,000 after purchasing an additional 2,371 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Cornerstone OnDemand during the fourth quarter worth $628,000. California Public Employees Retirement System lifted its position in shares of Cornerstone OnDemand by 41.7% during the fourth quarter. California Public Employees Retirement System now owns 37,547 shares of the software maker’s stock worth $1,327,000 after purchasing an additional 11,047 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Cornerstone OnDemand by 3.9% during the fourth quarter. Swiss National Bank now owns 88,300 shares of the software maker’s stock worth $3,120,000 after purchasing an additional 3,300 shares during the last quarter. 93.47% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Adam L. Miller sold 21,000 shares of the stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $52.63, for a total value of $1,105,230.00. Following the transaction, the chief executive officer now owns 3,466,268 shares in the company, valued at approximately $182,429,684.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R C. Mark Baker sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the transaction, the director now owns 10,850 shares in the company, valued at approximately $542,500. The disclosure for this sale can be found here. Insiders sold a total of 102,710 shares of company stock worth $4,953,124 in the last ninety days. 11.70% of the stock is owned by corporate insiders.
CSOD has been the topic of several research reports. ValuEngine upgraded Cornerstone OnDemand from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. Credit Suisse Group boosted their price target on Cornerstone OnDemand from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 14th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $46.00 target price on shares of Cornerstone OnDemand in a report on Thursday, March 15th. JMP Securities lifted their target price on Cornerstone OnDemand from $48.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, May 9th. Finally, Zacks Investment Research raised Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Monday, May 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $49.89.
Shares of Cornerstone OnDemand stock traded down $2.02 during trading hours on Friday, hitting $49.61. The company’s stock had a trading volume of 979,160 shares, compared to its average volume of 518,785. Cornerstone OnDemand, Inc. has a twelve month low of $33.24 and a twelve month high of $53.75. The firm has a market cap of $2.98 billion, a PE ratio of -70.87 and a beta of 0.56. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 8.85.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its earnings results on Tuesday, May 8th. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.08. The firm had revenue of $133.11 million for the quarter, compared to analyst estimates of $126.95 million. Cornerstone OnDemand had a negative return on equity of 119.83% and a negative net margin of 12.18%. Cornerstone OnDemand’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. equities analysts expect that Cornerstone OnDemand, Inc. will post -0.28 earnings per share for the current year.
About Cornerstone OnDemand
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 source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; 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 supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.
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