Schwab Charles Investment Management Inc. Has $7.90 Million Stake in Cornerstone OnDemand, Inc. (CSOD)
Schwab Charles Investment Management Inc. grew its stake in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 221,011 shares of the software maker’s stock after purchasing an additional 14,642 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.39% of Cornerstone OnDemand worth $7,902,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in CSOD. Swiss National Bank boosted its stake in shares of Cornerstone OnDemand by 1.1% during the first quarter. Swiss National Bank now owns 88,300 shares of the software maker’s stock valued at $3,434,000 after purchasing an additional 1,000 shares during the period. Karp Capital Management Corp purchased a new stake in Cornerstone OnDemand in the first quarter worth $355,000. Parametric Portfolio Associates LLC lifted its stake in Cornerstone OnDemand by 30.2% in the first quarter. Parametric Portfolio Associates LLC now owns 198,925 shares of the software maker’s stock worth $7,736,000 after acquiring an additional 46,095 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Cornerstone OnDemand in the first quarter worth $169,000. Finally, Prudential Financial Inc. purchased a new stake in Cornerstone OnDemand in the first quarter worth $405,000. 91.65% of the stock is owned by hedge funds and other institutional investors.
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In other Cornerstone OnDemand news, EVP Vincent Belliveau sold 11,660 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $40.00, for a total transaction of $466,400.00. Following the transaction, the executive vice president now owns 237,043 shares in the company, valued at approximately $9,481,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian L. Swartz sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the transaction, the chief financial officer now owns 111,613 shares in the company, valued at approximately $4,464,520. The disclosure for this sale can be found here. Insiders sold a total of 81,660 shares of company stock worth $3,316,540 in the last 90 days. 12.60% of the stock is currently owned by insiders.
Cornerstone OnDemand, Inc. (NASDAQ:CSOD) opened at 40.85 on Friday. Cornerstone OnDemand, Inc. has a 12 month low of $30.31 and a 12 month high of $44.77. The firm’s market capitalization is $2.35 billion. The company’s 50-day moving average price is $37.43 and its 200 day moving average price is $37.45.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.09). Cornerstone OnDemand had a negative net margin of 15.39% and a negative return on equity of 182.51%. The firm had revenue of $116.70 million during the quarter, compared to analysts’ expectations of $117.00 million. Cornerstone OnDemand’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts predict that Cornerstone OnDemand, Inc. will post $0.39 EPS for the current year.
Several equities analysts have commented on CSOD shares. Zacks Investment Research lowered Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. B. Riley restated a “buy” rating and set a $47.00 price target on shares of Cornerstone OnDemand in a report on Wednesday, August 9th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Cornerstone OnDemand in a report on Thursday, August 3rd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $46.00 price objective (down from $50.00) on shares of Cornerstone OnDemand in a report on Friday, August 4th. Finally, Credit Suisse Group upgraded Cornerstone OnDemand from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $43.00 to $49.00 in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $43.42.
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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