Macquarie Group Ltd. lifted its holdings in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,049 shares of the software maker’s stock after acquiring an additional 1,749 shares during the period. Macquarie Group Ltd. owned 0.08% of Cornerstone OnDemand worth $1,911,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CSOD. Vanguard Group Inc. increased its position in Cornerstone OnDemand by 0.9% during the second quarter. Vanguard Group Inc. now owns 4,267,865 shares of the software maker’s stock worth $152,575,000 after buying an additional 37,652 shares during the period. Eagle Asset Management Inc. increased its position in Cornerstone OnDemand by 40.9% during the second quarter. Eagle Asset Management Inc. now owns 2,123,957 shares of the software maker’s stock worth $75,931,000 after buying an additional 616,269 shares during the period. First Trust Advisors LP increased its position in Cornerstone OnDemand by 0.6% during the third quarter. First Trust Advisors LP now owns 1,548,109 shares of the software maker’s stock worth $62,869,000 after buying an additional 9,874 shares during the period. State Street Corp increased its position in Cornerstone OnDemand by 6.0% during the second quarter. State Street Corp now owns 993,704 shares of the software maker’s stock worth $35,529,000 after buying an additional 56,464 shares during the period. Finally, Northern Trust Corp increased its position in Cornerstone OnDemand by 4.6% during the second quarter. Northern Trust Corp now owns 672,594 shares of the software maker’s stock worth $24,045,000 after buying an additional 29,676 shares during the period. 95.89% of the stock is currently owned by institutional investors and hedge funds.
Cornerstone OnDemand, Inc. (CSOD) opened at $35.66 on Wednesday. Cornerstone OnDemand, Inc. has a 12 month low of $33.24 and a 12 month high of $44.25.
Cornerstone OnDemand announced that its board has authorized a share buyback plan on Wednesday, November 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Harold W. Burlingame sold 2,000 shares of Cornerstone OnDemand stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the director now directly owns 48,150 shares in the company, valued at $1,926,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph P. Payne purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $34.32 per share, for a total transaction of $102,960.00. The disclosure for this purchase can be found here. Insiders sold a total of 37,000 shares of company stock worth $1,506,190 over the last quarter. Company insiders own 12.60% of the company’s stock.
Several research analysts have commented on CSOD shares. B. Riley cut their price target on Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Zacks Investment Research downgraded Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Barclays lifted their target price on Cornerstone OnDemand from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, November 9th. Piper Jaffray Companies downgraded Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Thursday, November 9th. Finally, KeyCorp reiterated a “hold” rating on shares of Cornerstone OnDemand in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target 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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