Renaissance Technologies LLC lifted its position in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 2.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 629,900 shares of the software maker’s stock after purchasing an additional 17,100 shares during the period. Renaissance Technologies LLC owned about 1.04% of Cornerstone OnDemand worth $36,490,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in Cornerstone OnDemand in the 2nd quarter valued at about $28,000. Manchester Capital Management LLC acquired a new position in Cornerstone OnDemand in the 1st quarter valued at about $76,000. Meeder Asset Management Inc. acquired a new position in Cornerstone OnDemand in the 2nd quarter valued at about $129,000. Nelson Roberts Investment Advisors LLC acquired a new position in Cornerstone OnDemand in the 2nd quarter valued at about $148,000. Finally, Contravisory Investment Management Inc. acquired a new position in Cornerstone OnDemand in the 2nd quarter valued at about $154,000. Institutional investors and hedge funds own 92.16% of the company’s stock.
Several equities analysts recently issued reports on CSOD shares. Mizuho started coverage on Cornerstone OnDemand in a research report on Wednesday, August 21st. They issued a “buy” rating and a $65.00 price target on the stock. JMP Securities boosted their price target on Cornerstone OnDemand from $65.00 to $70.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 6th. Bank of America boosted their price target on Cornerstone OnDemand from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Monday. TheStreet cut Cornerstone OnDemand from a “c” rating to a “d+” rating in a research report on Tuesday, August 13th. Finally, Guggenheim started coverage on Cornerstone OnDemand in a research report on Thursday, June 27th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.44.
Cornerstone OnDemand (NASDAQ:CSOD) last released its earnings results on Monday, August 5th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.04). Cornerstone OnDemand had a negative return on equity of 11.18% and a negative net margin of 3.23%. The business had revenue of $141.90 million for the quarter, compared to analyst estimates of $138.83 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts predict that Cornerstone OnDemand, Inc. will post 0.47 earnings per share for the current fiscal year.
In other news, CEO Adam L. Miller sold 21,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $55.89, for a total transaction of $1,173,690.00. Following the sale, the chief executive officer now owns 2,321,858 shares of the company’s stock, valued at approximately $129,768,643.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian L. Swartz sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $62.00, for a total value of $217,000.00. Following the sale, the chief financial officer now directly owns 138,103 shares in the company, valued at approximately $8,562,386. The disclosure for this sale can be found here. Insiders have sold a total of 196,510 shares of company stock worth $11,238,841 in the last quarter. 9.40% of the stock is currently owned by insiders.
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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