Teacher Retirement System of Texas cut its holdings in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 19.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,318 shares of the software maker’s stock after selling 2,214 shares during the period. Teacher Retirement System of Texas’ holdings in Cornerstone OnDemand were worth $442,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CSOD. Highland Capital Management LP bought a new stake in Cornerstone OnDemand during the 1st quarter worth about $215,000. Atria Investments LLC bought a new stake in Cornerstone OnDemand during the 2nd quarter worth about $265,000. SG Americas Securities LLC lifted its position in Cornerstone OnDemand by 75.2% during the 1st quarter. SG Americas Securities LLC now owns 6,884 shares of the software maker’s stock worth $269,000 after buying an additional 2,954 shares in the last quarter. Quantbot Technologies LP lifted its position in Cornerstone OnDemand by 108.5% during the 1st quarter. Quantbot Technologies LP now owns 8,529 shares of the software maker’s stock worth $333,000 after buying an additional 4,439 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in Cornerstone OnDemand during the 1st quarter worth about $376,000. 91.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CSOD stock opened at $56.68 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 6.50. Cornerstone OnDemand, Inc. has a 52-week low of $33.57 and a 52-week high of $57.00.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its earnings results on Tuesday, August 7th. The software maker reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. The company had revenue of $132.52 million for the quarter, compared to analysts’ expectations of $128.33 million. Cornerstone OnDemand had a negative net margin of 10.03% and a negative return on equity of 79.03%. research analysts predict that Cornerstone OnDemand, Inc. will post -0.33 earnings per share for the current fiscal year.
CSOD has been the topic of several analyst reports. BidaskClub cut shares of Cornerstone OnDemand from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 23rd. ValuEngine raised shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating in a research report on Friday, June 15th. B. Riley boosted their price target on shares of Cornerstone OnDemand from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Zacks Investment Research raised shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Monday, May 14th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $65.00 price target on shares of Cornerstone OnDemand in a research report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $54.00.
In other news, insider Mark Goldin sold 7,953 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $47.94, for a total value of $381,266.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam J. Weiss sold 2,000 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $51.55, for a total transaction of $103,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,284 shares of company stock worth $7,491,081. 11.70% of the stock is owned by insiders.
Cornerstone OnDemand Company Profile
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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