Prudential Financial Inc. grew its stake in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 8.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 28,370 shares of the software maker’s stock after buying an additional 2,322 shares during the period. Prudential Financial Inc.’s holdings in Cornerstone OnDemand were worth $1,643,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Cornerstone OnDemand by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 610,294 shares of the software maker’s stock valued at $30,776,000 after acquiring an additional 38,873 shares during the period. Rhumbline Advisers grew its stake in Cornerstone OnDemand by 1.0% during the first quarter. Rhumbline Advisers now owns 76,899 shares of the software maker’s stock worth $4,213,000 after buying an additional 768 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Cornerstone OnDemand by 47.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 66,592 shares of the software maker’s stock worth $3,648,000 after buying an additional 21,387 shares during the last quarter. Laurion Capital Management LP bought a new stake in Cornerstone OnDemand during the first quarter worth about $1,712,000. Finally, National Asset Management Inc. grew its stake in Cornerstone OnDemand by 11.6% during the first quarter. National Asset Management Inc. now owns 5,287 shares of the software maker’s stock worth $290,000 after buying an additional 549 shares during the last quarter. 92.16% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Adam L. Miller sold 21,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $51.83, for a total value of $1,088,430.00. Following the transaction, the chief executive officer now directly owns 2,209,968 shares in the company, valued at $114,542,641.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Mark Goldin sold 6,902 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $58.21, for a total transaction of $401,765.42. The disclosure for this sale can be found here. Insiders have sold 175,510 shares of company stock worth $10,065,151 over the last quarter. 9.40% of the stock is owned by company insiders.
Several brokerages have weighed in on CSOD. Bank of America upped their price objective on shares of Cornerstone OnDemand from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Zacks Investment Research upgraded shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Thursday, August 8th. JMP Securities upped their target price on shares of Cornerstone OnDemand from $65.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 6th. BidaskClub upgraded shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Finally, TheStreet lowered shares of Cornerstone OnDemand from a “c” rating to a “d+” rating in a research report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $63.88.
Shares of CSOD stock traded up $0.29 during trading hours on Thursday, reaching $55.43. 5,943 shares of the company were exchanged, compared to its average volume of 553,649. Cornerstone OnDemand, Inc. has a fifty-two week low of $45.89 and a fifty-two week high of $62.66. The stock’s fifty day moving average is $53.91 and its two-hundred day moving average is $55.14. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -241.57 and a beta of 1.12. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.50 and a quick ratio of 1.50.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its earnings results on Monday, August 5th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.04). Cornerstone OnDemand had a negative return on equity of 11.18% and a negative net margin of 3.23%. The company had revenue of $141.90 million for the quarter, compared to analyst estimates of $138.83 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. Cornerstone OnDemand’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts anticipate that Cornerstone OnDemand, Inc. will post 0.47 earnings per share for the current year.
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 attract, hire, and onboard the right employees; Learning Suite, which provides robust, a modern learning management software to supports compliance, knowledge sharing, and employee-driven development training; 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 provides an aggregated view of all employee data with workforce planning, self-service management, and compliance reporting capabilities.
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