California Public Employees Retirement System Has $962,000 Holdings in Cornerstone OnDemand, Inc. (CSOD)
California Public Employees Retirement System lowered its position in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,900 shares of the software maker’s stock after selling 3,300 shares during the quarter. California Public Employees Retirement System’s holdings in Cornerstone OnDemand were worth $962,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of CSOD. Eagle Asset Management Inc. lifted its holdings 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 valued at $75,931,000 after purchasing an additional 616,269 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cornerstone OnDemand by 9.6% in the first quarter. Vanguard Group Inc. now owns 4,230,213 shares of the software maker’s stock worth $164,513,000 after buying an additional 368,783 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Cornerstone OnDemand by 25.2% in the second quarter. First Trust Advisors LP now owns 1,538,235 shares of the software maker’s stock worth $54,992,000 after buying an additional 309,331 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Cornerstone OnDemand in the second quarter worth $6,624,000. Finally, Soma Equity Partners LP lifted its holdings in shares of Cornerstone OnDemand by 149.2% in the second quarter. Soma Equity Partners LP now owns 249,227 shares of the software maker’s stock worth $8,910,000 after buying an additional 149,227 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
Cornerstone OnDemand, Inc. (NASDAQ CSOD) opened at $34.17 on Tuesday. Cornerstone OnDemand, Inc. has a 1 year low of $32.88 and a 1 year high of $44.25.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The business had revenue of $121.80 million for the quarter, compared to analysts’ expectations of $118.95 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. equities analysts expect that Cornerstone OnDemand, Inc. will post -0.69 earnings per share for the current year.
Cornerstone OnDemand declared that its board has approved a share buyback program on Wednesday, November 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director R C. Mark Baker sold 1,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $34.12, for a total value of $34,120.00. Following the transaction, the director now directly owns 23,850 shares in the company, valued at $813,762. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harold W. Burlingame sold 2,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the director now owns 48,150 shares in the company, valued at $1,926,000. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $1,429,460 in the last quarter. Company insiders own 12.60% of the company’s stock.
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Several research firms have recently commented on CSOD. B. Riley reissued a “buy” rating and issued a $47.00 target price on shares of Cornerstone OnDemand in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of Cornerstone OnDemand in a research report on Thursday, August 3rd. Barclays PLC boosted their price target on shares of Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, November 9th. Finally, J P Morgan Chase & Co upgraded shares of Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price 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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