Legato Capital Management LLC purchased a new stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 8,100 shares of the software maker’s stock, valued at approximately $290,000.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Cornerstone OnDemand by 9.6% in the first quarter. Vanguard Group Inc. now owns 4,230,213 shares of the software maker’s stock valued at $164,513,000 after buying an additional 368,783 shares during the last quarter. RGM Capital LLC raised its stake in shares of Cornerstone OnDemand by 9.4% in the first quarter. RGM Capital LLC now owns 1,727,538 shares of the software maker’s stock valued at $67,184,000 after buying an additional 148,309 shares during the last quarter. Eagle Asset Management Inc. raised its position in Cornerstone OnDemand by 3.6% in the first quarter. Eagle Asset Management Inc. now owns 1,507,688 shares of the software maker’s stock worth $58,633,000 after buying an additional 51,974 shares in the last quarter. First Trust Advisors LP raised its position in Cornerstone OnDemand by 4.6% in the first quarter. First Trust Advisors LP now owns 1,228,904 shares of the software maker’s stock worth $47,792,000 after buying an additional 54,405 shares in the last quarter. Finally, State Street Corp raised its position in Cornerstone OnDemand by 3.4% in the first quarter. State Street Corp now owns 937,240 shares of the software maker’s stock worth $36,446,000 after buying an additional 30,638 shares in the last quarter. Institutional investors own 89.56% of the company’s stock.
Shares of Cornerstone OnDemand, Inc. (NASDAQ CSOD) traded up 0.09% during midday trading on Friday, reaching $34.22. 375,177 shares of the company’s stock were exchanged. The company’s market cap is $1.97 billion. The stock’s 50 day moving average price is $36.95 and its 200 day moving average price is $38.44. Cornerstone OnDemand, Inc. has a 12-month low of $30.31 and a 12-month high of $47.75.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.09. The business had revenue of $116.70 million for the quarter, compared to analyst estimates of $117 million. Cornerstone OnDemand had a negative return on equity of 182.51% and a negative net margin of 15.39%. Cornerstone OnDemand’s revenue was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Cornerstone OnDemand, Inc. will post $0.39 earnings per share for the current fiscal year.
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A number of research firms recently weighed in on CSOD. Zacks Investment Research lowered shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. B. Riley reissued a “buy” rating and issued a $47.00 price target on shares of Cornerstone OnDemand in a report on Wednesday, August 9th. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of Cornerstone OnDemand in a report on Thursday, August 3rd. Piper Jaffray Companies reissued an “overweight” rating and issued a $46.00 price target (down from $50.00) on shares of Cornerstone OnDemand in a report on Friday, August 4th. Finally, Credit Suisse Group raised shares of Cornerstone OnDemand from a “neutral” rating to an “outperform” rating and raised their price target for the company from $43.00 to $49.00 in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.43.
In related news, CEO Adam L. Miller sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $40.69, for a total transaction of $1,220,700.00. Following the sale, the chief executive officer now directly owns 3,551,070 shares in the company, valued at $144,493,038.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Adam J. Weiss sold 5,786 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $34.46, for a total transaction of $199,385.56. The disclosure for this sale can be found here. Insiders have sold 93,820 shares of company stock worth $3,517,894 in the last three months. Corporate insiders own 12.60% of the company’s stock.
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.
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