Falcon Point Capital LLC reduced its stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 388,749 shares of the software maker’s stock after selling 13,339 shares during the period. Cornerstone OnDemand makes up about 1.9% of Falcon Point Capital LLC’s investment portfolio, making the stock its 23rd largest position. Falcon Point Capital LLC owned approximately 0.68% of Cornerstone OnDemand worth $13,898,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in Cornerstone OnDemand during the first quarter valued at $169,000. Gradient Investments LLC bought a new stake in Cornerstone OnDemand during the second quarter valued at $177,000. Oppenheimer Asset Management Inc. bought a new stake in Cornerstone OnDemand during the first quarter valued at $219,000. Engineers Gate Manager LP bought a new stake in Cornerstone OnDemand during the first quarter valued at $237,000. Finally, Principal Financial Group Inc. increased its stake in Cornerstone OnDemand by 1.3% in the first quarter. Principal Financial Group Inc. now owns 7,211 shares of the software maker’s stock valued at $280,000 after buying an additional 96 shares during the last quarter. Institutional investors own 90.52% of the company’s stock.
Cornerstone OnDemand, Inc. (CSOD) opened at 34.09 on Friday. The company’s market capitalization is $1.96 billion. Cornerstone OnDemand, Inc. has a 12-month low of $30.31 and a 12-month high of $47.75. The stock’s 50 day moving average price is $37.26 and its 200 day moving average price is $38.69.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.09. The company had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $117 million. Cornerstone OnDemand had a negative net margin of 15.39% and a negative return on equity of 182.51%. Cornerstone OnDemand’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Cornerstone OnDemand, Inc. will post $0.39 EPS for the current fiscal year.
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Several research firms recently weighed in on CSOD. B. Riley restated a “buy” rating and issued a $47.00 price target on shares of Cornerstone OnDemand in a research note on Wednesday, May 3rd. Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of Cornerstone OnDemand in a research note on Thursday, August 3rd. Piper Jaffray Companies restated an “overweight” rating and issued a $46.00 price target (down previously from $50.00) on shares of Cornerstone OnDemand in a research note on Friday, August 4th. Zacks Investment Research downgraded Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BidaskClub upgraded Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cornerstone OnDemand presently has an average rating of “Hold” and a consensus target price of $44.43.
In other news, Director R C. Mark Baker sold 1,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $36.91, for a total transaction of $36,910.00. Following the sale, the director now directly owns 19,000 shares of the company’s stock, valued at $701,290. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam L. Miller sold 30,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $40.69, for a total transaction of $1,220,700.00. Following the sale, the chief executive officer now directly owns 3,551,070 shares in the company, valued at $144,493,038.30. The disclosure for this sale can be found here. Insiders have sold 97,820 shares of company stock worth $3,668,934 over the last three months. Corporate insiders own 12.60% of the company’s stock.
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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