Clearline Capital LP purchased a new stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 45,032 shares of the software maker’s stock, valued at approximately $1,591,000. Cornerstone OnDemand accounts for 0.8% of Clearline Capital LP’s holdings, making the stock its 28th largest position. Clearline Capital LP owned approximately 0.08% of Cornerstone OnDemand at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Capital Fund Management S.A. acquired a new position in shares of Cornerstone OnDemand in the 4th quarter valued at $3,768,000. Sei Investments Co. boosted its stake in Cornerstone OnDemand by 10.2% in the 3rd quarter. Sei Investments Co. now owns 155,935 shares of the software maker’s stock worth $6,332,000 after purchasing an additional 14,384 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Cornerstone OnDemand by 14.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 252,540 shares of the software maker’s stock worth $10,256,000 after purchasing an additional 31,529 shares during the period. Nordea Investment Management AB boosted its stake in Cornerstone OnDemand by 17.8% in the 3rd quarter. Nordea Investment Management AB now owns 57,676 shares of the software maker’s stock worth $2,342,000 after purchasing an additional 8,726 shares during the period. Finally, Soma Equity Partners LP boosted its stake in Cornerstone OnDemand by 260.3% in the 3rd quarter. Soma Equity Partners LP now owns 898,000 shares of the software maker’s stock worth $36,468,000 after purchasing an additional 648,773 shares during the period. 97.62% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on CSOD shares. BidaskClub raised shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Zacks Investment Research raised shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, January 10th. Credit Suisse Group reaffirmed a “buy” rating and issued a $49.00 target price on shares of Cornerstone OnDemand in a research note on Thursday, January 18th. Bank of America raised shares of Cornerstone OnDemand from a “neutral” rating to a “buy” rating and upped their target price for the stock from $42.00 to $48.00 in a research note on Monday, January 22nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $44.00 target price on shares of Cornerstone OnDemand in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Cornerstone OnDemand currently has a consensus rating of “Hold” and an average target price of $43.00.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Cornerstone OnDemand had a negative return on equity of 140.92% and a negative net margin of 12.73%. The business had revenue of $131.96 million for the quarter, compared to analyst estimates of $132.12 million. research analysts forecast that Cornerstone OnDemand, Inc. will post -0.4 earnings per share for the current fiscal year.
In other news, Director R C. Mark Baker sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.83, for a total value of $204,150.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R C. Mark Baker sold 3,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $34.81, for a total transaction of $104,430.00. Following the completion of the sale, the director now directly owns 24,850 shares in the company, valued at $865,028.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,960 shares of company stock worth $3,711,874. 12.60% of the stock is owned by insiders.
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About Cornerstone OnDemand
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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