King Luther Capital Management Corp trimmed its holdings in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,680 shares of the software maker’s stock after selling 3,125 shares during the quarter. King Luther Capital Management Corp’s holdings in Cornerstone OnDemand were worth $3,387,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CSOD. Castleark Management LLC acquired a new position in Cornerstone OnDemand in the 2nd quarter valued at $12,364,000. Victory Capital Management Inc. increased its stake in Cornerstone OnDemand by 51.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,192,949 shares of the software maker’s stock valued at $67,701,000 after buying an additional 406,670 shares during the period. Rothschild Asset Management Inc. acquired a new position in Cornerstone OnDemand in the 2nd quarter valued at $2,385,000. Impax Asset Management LLC acquired a new position in Cornerstone OnDemand in the 2nd quarter valued at $761,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in Cornerstone OnDemand in the 3rd quarter valued at $5,829,000. 93.82% of the stock is currently owned by institutional investors and hedge funds.
In other Cornerstone OnDemand news, CEO Adam L. Miller sold 21,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam J. Weiss sold 2,000 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $57.20, for a total transaction of $114,400.00. Following the sale, the insider now owns 106,151 shares in the company, valued at $6,071,837.20. The disclosure for this sale can be found here. Insiders have sold a total of 107,557 shares of company stock worth $5,869,193 over the last 90 days. Insiders own 11.70% of the company’s stock.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its earnings results on Wednesday, November 7th. The software maker reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $134.00 million for the quarter, compared to analyst estimates of $130.07 million. Cornerstone OnDemand had a negative net margin of 7.46% and a negative return on equity of 41.67%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. Equities research analysts forecast that Cornerstone OnDemand, Inc. will post -0.2 earnings per share for the current year.
CSOD has been the topic of several recent research reports. Zacks Investment Research cut shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. ValuEngine raised shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Mitsubishi UFJ Financial Group boosted 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. BidaskClub upgraded shares of Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 7th. Finally, Barclays boosted their target price on shares of Cornerstone OnDemand from $40.00 to $48.00 and gave the stock an “underweight” rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $56.73.
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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