Cornerstone OnDemand (NASDAQ:CSOD) Sees Unusually-High Trading Volume

Shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) saw strong trading volume on Tuesday . 2,338,999 shares changed hands during mid-day trading, an increase of 407% from the previous session’s volume of 461,724 shares.The stock last traded at $56.57 and had previously closed at $54.49.

A number of research analysts have weighed in on the company. Guggenheim assumed coverage on Cornerstone OnDemand in a research note on Thursday, June 27th. They issued a “buy” rating for the company. Bank of America raised their price target on Cornerstone OnDemand from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 9th. TheStreet downgraded Cornerstone OnDemand from a “c” rating to a “d+” rating in a research note on Tuesday, August 13th. Zacks Investment Research downgraded Cornerstone OnDemand from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Mizuho assumed coverage on Cornerstone OnDemand in a research note on Wednesday, August 21st. They issued a “buy” rating and a $65.00 price target for the company. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $63.88.

The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -253.61 and a beta of 1.10. The stock has a 50-day moving average price of $55.03 and a 200-day moving average price of $55.18. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.50 and a quick ratio of 1.50.

Cornerstone OnDemand (NASDAQ:CSOD) last released its quarterly earnings data on Monday, August 5th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.04). Cornerstone OnDemand had a negative net margin of 3.23% and a negative return on equity of 11.18%. The business had revenue of $141.90 million during the quarter, compared to analyst estimates of $138.83 million. During the same period in the previous year, the business earned $0.13 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Cornerstone OnDemand, Inc. will post 0.47 earnings per share for the current year.

In other news, CEO Adam L. Miller sold 21,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.72, for a total value of $1,149,120.00. Following the completion of the sale, the chief executive officer now directly owns 2,225,968 shares of the company’s stock, valued at $121,804,968.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kristina Salen sold 9,740 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $52.90, for a total value of $515,246.00. Following the completion of the sale, the director now directly owns 21,670 shares of the company’s stock, valued at $1,146,343. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,544 shares of company stock valued at $5,699,087. Insiders own 9.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Cornerstone OnDemand by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,385,836 shares of the software maker’s stock worth $312,002,000 after purchasing an additional 232,590 shares during the last quarter. BlackRock Inc. lifted its holdings in Cornerstone OnDemand by 4.6% during the 2nd quarter. BlackRock Inc. now owns 4,332,007 shares of the software maker’s stock worth $250,953,000 after purchasing an additional 192,091 shares during the last quarter. First Trust Advisors LP lifted its holdings in Cornerstone OnDemand by 23.2% during the 2nd quarter. First Trust Advisors LP now owns 2,308,446 shares of the software maker’s stock worth $133,728,000 after purchasing an additional 434,990 shares during the last quarter. RGM Capital LLC lifted its holdings in Cornerstone OnDemand by 5.7% during the 2nd quarter. RGM Capital LLC now owns 1,882,637 shares of the software maker’s stock worth $109,061,000 after purchasing an additional 101,773 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Cornerstone OnDemand by 3.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,336,359 shares of the software maker’s stock worth $77,415,000 after purchasing an additional 46,070 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

About Cornerstone OnDemand (NASDAQ:CSOD)

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 attract, hire, and onboard the right employees; Learning Suite, which provides robust, a modern learning management software to supports compliance, knowledge sharing, and employee-driven development training; 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 provides an aggregated view of all employee data with workforce planning, self-service management, and compliance reporting capabilities.

Recommended Story: How can investors find ex-dividend dates?

Receive News & Ratings for Cornerstone OnDemand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cornerstone OnDemand and related companies with MarketBeat.com's FREE daily email newsletter.