King Luther Capital Management Corp cut its stake in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,680 shares of the software maker’s stock after selling 3,125 shares during the period. King Luther Capital Management Corp owned approximately 0.10% of Cornerstone OnDemand worth $3,387,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Strs Ohio boosted its stake in shares of Cornerstone OnDemand by 175.0% in the second quarter. Strs Ohio now owns 3,300 shares of the software maker’s stock valued at $156,000 after purchasing an additional 2,100 shares during the period. Sun Life Financial INC purchased a new position in shares of Cornerstone OnDemand in the second quarter valued at approximately $167,000. Global X Management Co LLC purchased a new position in shares of Cornerstone OnDemand in the second quarter valued at approximately $167,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Cornerstone OnDemand in the third quarter valued at approximately $210,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of Cornerstone OnDemand in the third quarter valued at approximately $214,000. Institutional investors and hedge funds own 93.82% of the company’s stock.
Shares of Cornerstone OnDemand stock opened at $51.10 on Friday. Cornerstone OnDemand, Inc. has a 52-week low of $34.32 and a 52-week high of $59.18. The company has a debt-to-equity ratio of 5.29, a current ratio of 1.59 and a quick ratio of 1.59.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. Cornerstone OnDemand had a negative net margin of 7.46% and a negative return on equity of 41.67%. The company had revenue of $134.00 million during the quarter, compared to the consensus estimate of $130.07 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities research analysts predict that Cornerstone OnDemand, Inc. will post -0.2 EPS for the current year.
In other Cornerstone OnDemand news, Director Harold W. Burlingame sold 1,552 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $50.75, for a total transaction of $78,764.00. Following the sale, the director now owns 53,326 shares of the company’s stock, valued at $2,706,294.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam L. Miller sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $57.52, for a total transaction of $1,207,920.00. Following the sale, the chief executive officer now directly owns 3,380,434 shares in the company, valued at approximately $194,442,563.68. The disclosure for this sale can be found here. Insiders sold 107,557 shares of company stock valued at $5,869,193 in the last quarter. 11.70% of the stock is owned by insiders.
Several research analysts have recently commented on CSOD shares. BidaskClub raised shares of Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 7th. Mitsubishi UFJ Financial Group raised their price objective on shares of Cornerstone OnDemand to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, August 14th. Barclays lifted their price target on shares of Cornerstone OnDemand from $40.00 to $48.00 and gave the stock an “underweight” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Finally, First Analysis set a $69.00 price target on shares of Cornerstone OnDemand and gave the stock a “buy” rating in a research note on Monday, September 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $56.73.
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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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