Aperio Group LLC Buys 2,371 Shares of Cornerstone OnDemand, Inc. (CSOD)
Aperio Group LLC increased its stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 19.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,326 shares of the software maker’s stock after purchasing an additional 2,371 shares during the quarter. Aperio Group LLC’s holdings in Cornerstone OnDemand were worth $506,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its holdings in Cornerstone OnDemand by 5.1% during the second quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock valued at $163,000 after acquiring an additional 223 shares during the period. Trexquant Investment LP bought a new stake in Cornerstone OnDemand during the third quarter valued at about $230,000. GSA Capital Partners LLP bought a new stake in Cornerstone OnDemand during the third quarter valued at about $391,000. Washington Capital Management Inc. raised its holdings in Cornerstone OnDemand by 61.4% during the fourth quarter. Washington Capital Management Inc. now owns 11,300 shares of the software maker’s stock valued at $399,000 after acquiring an additional 4,300 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in Cornerstone OnDemand during the third quarter valued at about $481,000. 96.40% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on CSOD shares. B. Riley decreased their price target on Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 10th. Zacks Investment Research raised Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday, January 10th. Credit Suisse Group reissued a “buy” rating and set a $49.00 price target on shares of Cornerstone OnDemand in a report on Thursday, January 18th. Bank of America raised Cornerstone OnDemand from a “neutral” rating to a “buy” rating and raised their price target for the company from $42.00 to $48.00 in a report on Monday, January 22nd. Finally, BidaskClub raised Cornerstone OnDemand from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $43.00.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $131.96 million for the quarter, compared to analysts’ expectations of $132.12 million. Cornerstone OnDemand had a negative net margin of 12.73% and a negative return on equity of 140.92%. sell-side analysts forecast that Cornerstone OnDemand, Inc. will post -0.4 EPS for the current year.
Cornerstone OnDemand declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Adam L. Miller sold 24,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $40.80, for a total transaction of $979,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam L. Miller sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $41.71, for a total value of $1,251,300.00. Following the transaction, the chief executive officer now owns 3,502,640 shares of the company’s stock, valued at approximately $146,095,114.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,000 shares of company stock valued at $2,539,080. Company 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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