Keybank National Association OH trimmed its holdings in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 27.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,339 shares of the software maker’s stock after selling 4,605 shares during the quarter. Keybank National Association OH’s holdings in Cornerstone OnDemand were worth $501,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. acquired a new stake in shares of Cornerstone OnDemand during the 3rd quarter worth approximately $1,670,000. Peregrine Capital Management LLC lifted its position in shares of Cornerstone OnDemand by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 610,110 shares of the software maker’s stock worth $24,777,000 after purchasing an additional 20,720 shares during the period. Aperio Group LLC boosted its holdings in shares of Cornerstone OnDemand by 19.9% during the 3rd quarter. Aperio Group LLC now owns 11,955 shares of the software maker’s stock valued at $485,000 after acquiring an additional 1,983 shares during the last quarter. First Trust Advisors LP increased its position in Cornerstone OnDemand by 0.6% in the third quarter. First Trust Advisors LP now owns 1,548,109 shares of the software maker’s stock worth $62,869,000 after purchasing an additional 9,874 shares during the last quarter. Finally, Pier 88 Investment Partners LLC boosted its stake in shares of Cornerstone OnDemand by 11.4% during the third quarter. Pier 88 Investment Partners LLC now owns 14,608 shares of the software maker’s stock valued at $593,000 after purchasing an additional 1,500 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cornerstone OnDemand, Inc. (NASDAQ CSOD) opened at $36.13 on Friday. Cornerstone OnDemand, Inc. has a one year low of $32.88 and a one year high of $44.25.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $121.80 million for the quarter, compared to analyst estimates of $118.95 million. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. equities analysts forecast that Cornerstone OnDemand, Inc. will post -0.66 earnings per share for the current fiscal year.
Cornerstone OnDemand declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Cornerstone OnDemand news, Director Joseph P. Payne purchased 3,000 shares of Cornerstone OnDemand stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $34.32 per share, for a total transaction of $102,960.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R C. Mark Baker sold 1,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.12, for a total transaction of $34,120.00. Following the sale, the director now directly owns 23,850 shares of the company’s stock, valued at $813,762. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,000 shares of company stock valued at $1,429,460. 12.60% of the stock is currently owned by insiders.
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A number of research analysts have recently issued reports on CSOD shares. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Cornerstone OnDemand in a research report on Thursday, August 3rd. B. Riley reissued a “buy” rating and issued a $47.00 target price on shares of Cornerstone OnDemand in a report on Friday, August 4th. J P Morgan Chase & Co raised Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a report on Wednesday, November 8th. Piper Jaffray Companies downgraded Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Thursday, November 9th. Finally, Barclays PLC increased their target price on Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.56.
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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