Candriam Luxembourg S.C.A. Raises Stake in Cornerstone OnDemand, Inc. (CSOD)
Candriam Luxembourg S.C.A. increased its stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 74.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,900 shares of the software maker’s stock after buying an additional 5,500 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cornerstone OnDemand were worth $461,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Cornerstone OnDemand by 9.6% in the first quarter. Vanguard Group Inc. now owns 4,230,213 shares of the software maker’s stock valued at $164,513,000 after buying an additional 368,783 shares in the last quarter. Norges Bank bought a new stake in shares of Cornerstone OnDemand during the fourth quarter valued at about $11,655,000. Garelick Capital Partners LP bought a new stake in shares of Cornerstone OnDemand during the first quarter valued at about $9,620,000. TCW Group Inc. boosted its stake in shares of Cornerstone OnDemand by 318.0% in the first quarter. TCW Group Inc. now owns 310,501 shares of the software maker’s stock valued at $12,075,000 after buying an additional 236,221 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Cornerstone OnDemand by 34.1% in the first quarter. Victory Capital Management Inc. now owns 836,619 shares of the software maker’s stock valued at $32,536,000 after buying an additional 212,950 shares in the last quarter. Institutional investors own 89.56% of the company’s stock.
Shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) opened at 34.03 on Wednesday. The stock’s 50 day moving average is $37.14 and its 200 day moving average is $38.55. Cornerstone OnDemand, Inc. has a 12 month low of $30.31 and a 12 month high of $47.75. The company’s market capitalization is $1.96 billion.
Cornerstone OnDemand (NASDAQ:CSOD) last released its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.20) by $0.09. The business had revenue of $116.70 million during 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%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts predict that Cornerstone OnDemand, Inc. will post $0.39 EPS for the current fiscal year.
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Several research firms have weighed in on CSOD. Zacks Investment Research downgraded shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. B. Riley reiterated a “buy” rating and issued a $47.00 price target on shares of Cornerstone OnDemand in a research report on Wednesday, August 9th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Cornerstone OnDemand in a research report on Thursday, August 3rd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $46.00 price target (down from $50.00) on shares of Cornerstone OnDemand in a research report on Friday, August 4th. Finally, Credit Suisse Group upgraded shares of Cornerstone OnDemand from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $43.00 to $49.00 in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.43.
In related news, CEO Adam L. Miller sold 30,000 shares of the 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 of the company’s stock, valued at $144,493,038.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Adam J. Weiss sold 5,786 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $34.46, for a total transaction of $199,385.56. The disclosure for this sale can be found here. Insiders have sold 93,820 shares of company stock worth $3,517,894 over the last three months. 12.60% of the stock is currently owned by insiders.
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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