Cornerstone OnDemand, Inc. (CSOD) Stake Lessened by Allianz Asset Management GmbH
Allianz Asset Management GmbH decreased its position in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 13.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 587,320 shares of the software maker’s stock after selling 91,990 shares during the period. Allianz Asset Management GmbH owned about 1.01% of Cornerstone OnDemand worth $23,851,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in Cornerstone OnDemand in the first quarter valued at $614,000. Aperio Group LLC boosted its holdings in Cornerstone OnDemand by 9.2% in the second quarter. Aperio Group LLC now owns 9,972 shares of the software maker’s stock valued at $356,000 after acquiring an additional 838 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Cornerstone OnDemand by 4.1% in the second quarter. Russell Investments Group Ltd. now owns 192,825 shares of the software maker’s stock valued at $6,894,000 after acquiring an additional 7,529 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in Cornerstone OnDemand by 74.3% in the second quarter. Candriam Luxembourg S.C.A. now owns 12,900 shares of the software maker’s stock valued at $461,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Cornerstone OnDemand by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 221,011 shares of the software maker’s stock valued at $7,902,000 after acquiring an additional 14,642 shares in the last quarter. Hedge funds and other institutional investors own 95.89% of the company’s stock.
In other news, Director R C. Mark Baker sold 3,000 shares of Cornerstone OnDemand stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $36.95, for a total value of $110,850.00. Following the completion of the transaction, the director now owns 25,850 shares of the company’s stock, valued at approximately $955,157.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Adam L. Miller sold 24,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $41.28, for a total value of $990,720.00. Following the completion of the transaction, the chief executive officer now directly owns 3,539,587 shares of the company’s stock, valued at approximately $146,114,151.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,000 shares of company stock valued at $1,506,190. 12.60% of the stock is owned by insiders.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The firm had revenue of $121.80 million during the quarter, compared to analyst estimates of $118.95 million. Cornerstone OnDemand had a negative return on equity of 173.27% and a negative net margin of 15.45%. Cornerstone OnDemand’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. analysts predict that Cornerstone OnDemand, Inc. will post -0.66 EPS for the current fiscal year.
Cornerstone OnDemand declared that its Board of Directors has authorized a share buyback program on Wednesday, November 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Several research firms recently weighed in on CSOD. Barclays lifted their price target on shares of Cornerstone OnDemand from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, November 9th. J P Morgan Chase & Co raised Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research report on Wednesday, November 8th. B. Riley lowered their price objective on Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 10th. Zacks Investment Research lowered Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Finally, KeyCorp reissued a “hold” rating on shares of Cornerstone OnDemand in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.56.
About Cornerstone OnDemand
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.
Want to see what other hedge funds are holding CSOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cornerstone OnDemand, Inc. (NASDAQ:CSOD).
Receive News & Ratings for Cornerstone OnDemand Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cornerstone OnDemand Inc. and related companies with MarketBeat.com's FREE daily email newsletter.