Rhumbline Advisers Lowers Position in Cornerstone OnDemand, Inc. (NASDAQ:CSOD)

Rhumbline Advisers cut its holdings in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 3.5% in the third quarter, HoldingsChannel.com reports. The firm owned 76,741 shares of the software maker’s stock after selling 2,750 shares during the quarter. Rhumbline Advisers’ holdings in Cornerstone OnDemand were worth $4,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. We Are One Seven LLC grew its holdings in shares of Cornerstone OnDemand by 2.4% during the 3rd quarter. We Are One Seven LLC now owns 8,987 shares of the software maker’s stock worth $493,000 after purchasing an additional 213 shares during the period. Meeder Asset Management Inc. boosted its holdings in Cornerstone OnDemand by 15.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,582 shares of the software maker’s stock valued at $142,000 after acquiring an additional 352 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cornerstone OnDemand by 15.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,023 shares of the software maker’s stock valued at $166,000 after acquiring an additional 409 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Cornerstone OnDemand during the 2nd quarter valued at about $28,000. Finally, Brinker Capital Inc. boosted its holdings in Cornerstone OnDemand by 6.3% during the 3rd quarter. Brinker Capital Inc. now owns 9,379 shares of the software maker’s stock valued at $514,000 after acquiring an additional 556 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Shares of Cornerstone OnDemand stock opened at $57.89 on Friday. The business has a 50-day moving average of $56.01 and a 200 day moving average of $55.52. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -251.70 and a beta of 1.10. Cornerstone OnDemand, Inc. has a 12 month low of $45.89 and a 12 month high of $62.66.

Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings data on Tuesday, November 5th. The software maker reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $142.06 million. Cornerstone OnDemand had a positive return on equity of 16.33% and a negative net margin of 2.95%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. Equities research analysts anticipate that Cornerstone OnDemand, Inc. will post 0.51 earnings per share for the current year.

CSOD has been the subject of a number of research analyst reports. JMP Securities raised their target price on Cornerstone OnDemand from $65.00 to $70.00 and gave the company a “market outperform” rating in a report on Tuesday, August 6th. Royal Bank of Canada initiated coverage on Cornerstone OnDemand in a report on Thursday. They set an “outperform” rating for the company. Mizuho initiated coverage on Cornerstone OnDemand in a report on Wednesday, August 21st. They set a “buy” rating and a $65.00 target price for the company. Bank of America raised their target price on Cornerstone OnDemand from $68.00 to $70.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, ValuEngine cut Cornerstone OnDemand from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cornerstone OnDemand currently has a consensus rating of “Buy” and an average target price of $65.71.

In other news, CEO Adam L. Miller sold 8,000 shares of Cornerstone OnDemand stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $52.37, for a total value of $418,960.00. Following the completion of the transaction, the chief executive officer now owns 2,196,168 shares in the company, valued at approximately $115,013,318.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam L. Miller sold 21,000 shares of Cornerstone OnDemand stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $51.83, for a total value of $1,088,430.00. Following the completion of the transaction, the chief executive officer now owns 2,209,968 shares of the company’s stock, valued at approximately $114,542,641.44. The disclosure for this sale can be found here. Insiders sold a total of 124,266 shares of company stock valued at $6,837,662 in the last quarter. Company insiders own 9.40% of the company’s stock.

About Cornerstone OnDemand

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.

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Institutional Ownership by Quarter for Cornerstone OnDemand (NASDAQ:CSOD)

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