Cornerstone OnDemand, Inc. (CSOD) Position Reduced by TimesSquare Capital Management LLC
TimesSquare Capital Management LLC lessened its holdings in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 885,901 shares of the software maker’s stock after selling 38,300 shares during the quarter. TimesSquare Capital Management LLC owned approximately 1.54% of Cornerstone OnDemand worth $35,976,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Cornerstone OnDemand by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,267,865 shares of the software maker’s stock worth $152,575,000 after purchasing an additional 37,652 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Cornerstone OnDemand by 40.9% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,123,957 shares of the software maker’s stock worth $75,931,000 after purchasing an additional 616,269 shares during the last quarter. First Trust Advisors LP boosted its stake in Cornerstone OnDemand by 0.6% during the 3rd quarter. First Trust Advisors LP now owns 1,548,109 shares of the software maker’s stock worth $62,869,000 after purchasing an additional 9,874 shares during the last quarter. State Street Corp boosted its stake in Cornerstone OnDemand by 6.0% during the 2nd quarter. State Street Corp now owns 993,704 shares of the software maker’s stock worth $35,529,000 after purchasing an additional 56,464 shares during the last quarter. Finally, Soma Equity Partners LP boosted its stake in Cornerstone OnDemand by 260.3% during the 3rd quarter. Soma Equity Partners LP now owns 898,000 shares of the software maker’s stock worth $36,468,000 after purchasing an additional 648,773 shares during the last quarter. 87.12% of the stock is currently owned by institutional investors.
CSOD has been the topic of several recent research reports. Barclays PLC lifted their target price on shares of Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, November 9th. KeyCorp reaffirmed a “hold” rating on shares of Cornerstone OnDemand in a research note on Thursday, November 9th. Piper Jaffray Companies cut shares of Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Thursday, November 9th. B. Riley reaffirmed a “buy” rating and set a $47.00 target price on shares of Cornerstone OnDemand in a research note on Friday, August 4th. Finally, Zacks Investment Research cut shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $43.56.
In other news, Director Harold W. Burlingame sold 2,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the transaction, the director now owns 48,150 shares of the company’s stock, valued at approximately $1,926,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph P. Payne acquired 3,000 shares of Cornerstone OnDemand stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $34.32 per share, for a total transaction of $102,960.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 37,000 shares of company stock worth $1,506,190. Corporate insiders own 12.60% of the company’s stock.
Cornerstone OnDemand, Inc. (NASDAQ CSOD) opened at $37.53 on Friday. Cornerstone OnDemand, Inc. has a 1 year low of $32.88 and a 1 year high of $44.25.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $121.80 million for the quarter, compared to analysts’ expectations of $118.95 million. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. analysts forecast that Cornerstone OnDemand, Inc. will post -0.66 earnings per share for the current year.
Cornerstone OnDemand announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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Cornerstone OnDemand 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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