American Century Companies Inc. Grows Stake in Cornerstone OnDemand, Inc. (CSOD)
American Century Companies Inc. lifted its position in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,257 shares of the software maker’s stock after acquiring an additional 41,113 shares during the quarter. American Century Companies Inc.’s holdings in Cornerstone OnDemand were worth $10,250,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Cornerstone OnDemand by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,738,027 shares of the software maker’s stock worth $268,882,000 after purchasing an additional 159,877 shares during the last quarter. Vanguard Group Inc boosted its holdings in Cornerstone OnDemand by 3.5% during the third quarter. Vanguard Group Inc now owns 4,738,027 shares of the software maker’s stock worth $268,882,000 after buying an additional 159,877 shares during the last quarter. BlackRock Inc. grew its position in shares of Cornerstone OnDemand by 4.6% during the 4th quarter. BlackRock Inc. now owns 3,931,599 shares of the software maker’s stock worth $198,271,000 after buying an additional 171,143 shares during the period. Praesidium Investment Management Company LLC grew its position in shares of Cornerstone OnDemand by 7.4% during the 4th quarter. Praesidium Investment Management Company LLC now owns 3,442,143 shares of the software maker’s stock worth $173,587,000 after buying an additional 237,527 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of Cornerstone OnDemand by 7.1% during the 3rd quarter. Clearbridge Investments LLC now owns 2,762,049 shares of the software maker’s stock worth $156,746,000 after buying an additional 184,277 shares during the period. 93.16% of the stock is currently owned by institutional investors and hedge funds.
In other Cornerstone OnDemand news, insider Adrianna Burrows sold 3,211 shares of Cornerstone OnDemand stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $55.14, for a total value of $177,054.54. Following the transaction, the insider now owns 55,361 shares of the company’s stock, valued at $3,052,605.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam L. Miller sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $54.72, for a total transaction of $573,739.20. Following the completion of the transaction, the chief executive officer now owns 2,418,458 shares of the company’s stock, valued at approximately $132,338,021.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,480 shares of company stock valued at $8,095,439. 11.70% of the stock is owned by company insiders.
Cornerstone OnDemand (NASDAQ:CSOD) last released its quarterly earnings data on Tuesday, February 12th. The software maker reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Cornerstone OnDemand had a negative return on equity of 28.62% and a negative net margin of 6.29%. The business had revenue of $138.25 million for the quarter, compared to analysts’ expectations of $129.91 million. During the same quarter in the previous year, the business posted $0.19 EPS. Cornerstone OnDemand’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts predict that Cornerstone OnDemand, Inc. will post -0.08 EPS for the current fiscal year.
A number of brokerages recently weighed in on CSOD. DA Davidson began coverage on shares of Cornerstone OnDemand in a research report on Friday, February 1st. They issued a “buy” rating and a $65.00 price target on the stock. Zacks Investment Research raised shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday, January 8th. BidaskClub upgraded shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating in a report on Tuesday, January 1st. Bank of America upped their target price on shares of Cornerstone OnDemand from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Finally, JMP Securities reiterated a “buy” rating and issued a $65.00 target price on shares of Cornerstone OnDemand in a report on Sunday, February 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $61.75.
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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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