Canada Pension Plan Investment Board Purchases Shares of 139,513 Cornerstone OnDemand, Inc. (CSOD)
Canada Pension Plan Investment Board purchased a new position in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) during the third quarter, Holdings Channel reports. The firm purchased 139,513 shares of the software maker’s stock, valued at approximately $7,917,000.
Several other large investors have also modified their holdings of CSOD. Strs Ohio raised its stake in Cornerstone OnDemand by 175.0% during the second quarter. Strs Ohio now owns 3,300 shares of the software maker’s stock worth $156,000 after buying an additional 2,100 shares during the last quarter. Sun Life Financial INC bought a new position in Cornerstone OnDemand during the second quarter worth $167,000. Global X Management Co LLC bought a new position in Cornerstone OnDemand during the second quarter worth $167,000. Campbell & CO Investment Adviser LLC bought a new position in Cornerstone OnDemand during the third quarter worth $210,000. Finally, We Are One Seven LLC bought a new position in Cornerstone OnDemand during the third quarter worth $259,000. Institutional investors own 93.82% of the company’s stock.
In other Cornerstone OnDemand news, CEO Adam L. Miller sold 21,000 shares of Cornerstone OnDemand stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $57.52, for a total value of $1,207,920.00. Following the completion of the sale, the chief executive officer now directly owns 3,380,434 shares of the company’s stock, valued at $194,442,563.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Harold W. Burlingame sold 1,553 shares of Cornerstone OnDemand stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $55.82, for a total transaction of $86,688.46. Following the completion of the sale, the director now directly owns 53,327 shares of the company’s stock, valued at $2,976,713.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,557 shares of company stock valued at $5,869,193. Insiders own 11.70% of the company’s stock.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Cornerstone OnDemand had a negative net margin of 7.46% and a negative return on equity of 41.67%. The firm had revenue of $134.00 million during the quarter, compared to the consensus estimate of $130.07 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts predict that Cornerstone OnDemand, Inc. will post -0.2 earnings per share for the current year.
A number of equities analysts recently weighed in on the stock. First Analysis set a $69.00 target price on shares of Cornerstone OnDemand and gave the stock a “buy” rating in a research note on Monday, September 17th. Barclays lifted their target price on shares of Cornerstone OnDemand from $40.00 to $48.00 and gave the stock an “underweight” rating in a research note on Friday, September 7th. BidaskClub raised shares of Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. Finally, ValuEngine raised shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Cornerstone OnDemand currently has an average rating of “Buy” and a consensus price target of $56.73.
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Cornerstone OnDemand Company Profile
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 source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; 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 supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.
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