Brokerages Expect Cornerstone OnDemand, Inc. (CSOD) Will Post Quarterly Sales of $126.59 Million
Equities research analysts predict that Cornerstone OnDemand, Inc. (NASDAQ:CSOD) will report $126.59 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cornerstone OnDemand’s earnings, with the highest sales estimate coming in at $127.20 million and the lowest estimate coming in at $125.95 million. Cornerstone OnDemand posted sales of $111.58 million in the same quarter last year, which suggests a positive year over year growth rate of 13.5%. The business is scheduled to announce its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Cornerstone OnDemand will report full year sales of $126.59 million for the current year, with estimates ranging from $497.90 million to $506.48 million. For the next fiscal year, analysts expect that the firm will report sales of $554.61 million per share, with estimates ranging from $543.27 million to $565.94 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Cornerstone OnDemand.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $131.96 million for the quarter, compared to analysts’ expectations of $132.12 million. Cornerstone OnDemand had a negative return on equity of 128.63% and a negative net margin of 6.82%.
In related news, CEO Adam L. Miller sold 30,000 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $41.71, for a total value of $1,251,300.00. Following the completion of the sale, the chief executive officer now owns 3,502,640 shares in the company, valued at approximately $146,095,114.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R C. Mark Baker sold 3,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $34.81, for a total transaction of $104,430.00. Following the completion of the sale, the director now owns 24,850 shares of the company’s stock, valued at approximately $865,028.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,000 shares of company stock valued at $1,466,580. 12.60% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CSOD. Carillon Tower Advisers Inc. purchased a new stake in Cornerstone OnDemand in the 4th quarter valued at $52,352,000. Soma Equity Partners LP raised its position in Cornerstone OnDemand by 260.3% in the 3rd quarter. Soma Equity Partners LP now owns 898,000 shares of the software maker’s stock valued at $36,468,000 after purchasing an additional 648,773 shares during the last quarter. Alyeska Investment Group L.P. raised its position in Cornerstone OnDemand by 116.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,027,302 shares of the software maker’s stock valued at $41,719,000 after purchasing an additional 553,191 shares during the last quarter. Telemus Capital LLC purchased a new stake in Cornerstone OnDemand in the 4th quarter valued at $14,000,000. Finally, Millennium Management LLC raised its position in Cornerstone OnDemand by 231.6% in the 4th quarter. Millennium Management LLC now owns 509,737 shares of the software maker’s stock valued at $18,009,000 after purchasing an additional 356,032 shares during the last quarter. Hedge funds and other institutional investors own 93.75% of the company’s stock.
Shares of Cornerstone OnDemand (NASDAQ CSOD) traded up $0.09 during trading hours on Friday, hitting $40.55. 499,798 shares of the stock traded hands, compared to its average volume of 569,472. The stock has a market cap of $2,347.89, a P/E ratio of -37.55 and a beta of 0.57. Cornerstone OnDemand has a twelve month low of $33.24 and a twelve month high of $44.25.
Cornerstone OnDemand announced that its board has approved a stock repurchase plan on Wednesday, November 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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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