Cornerstone OnDemand, Inc. (NASDAQ:CSOD) Stake Cut by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its holdings in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 10.7% during the 1st quarter, HoldingsChannel reports. The fund owned 27,334 shares of the software maker’s stock after selling 3,280 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Cornerstone OnDemand were worth $1,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Cornerstone OnDemand by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 10,173 shares of the software maker’s stock worth $448,000 after purchasing an additional 559 shares in the last quarter. Swiss National Bank lifted its position in Cornerstone OnDemand by 0.5% in the 4th quarter. Swiss National Bank now owns 123,600 shares of the software maker’s stock worth $5,443,000 after buying an additional 600 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Cornerstone OnDemand during the 1st quarter valued at $45,000. Oder Investment Management LLC purchased a new position in shares of Cornerstone OnDemand during the 4th quarter valued at $65,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Cornerstone OnDemand by 5.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 36,569 shares of the software maker’s stock worth $1,610,000 after acquiring an additional 1,727 shares during the last quarter. Institutional investors own 85.86% of the company’s stock.

NASDAQ:CSOD opened at $50.82 on Friday. The company has a 50 day moving average price of $44.88. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.63 and a current ratio of 0.63. Cornerstone OnDemand, Inc. has a 12 month low of $32.99 and a 12 month high of $55.50. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -83.31, a price-to-earnings-growth ratio of 1.50 and a beta of 1.29.

Cornerstone OnDemand (NASDAQ:CSOD) last released its earnings results on Thursday, May 6th. The software maker reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. The firm had revenue of $209.30 million during the quarter, compared to analyst estimates of $204.22 million. Cornerstone OnDemand had a negative net margin of 4.83% and a positive return on equity of 59.68%. The business’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. As a group, research analysts expect that Cornerstone OnDemand, Inc. will post 2.13 EPS for the current fiscal year.

In other news, CEO Philip Seth Saunders sold 31,090 shares of the company’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $42.87, for a total transaction of $1,332,828.30. Following the completion of the transaction, the chief executive officer now owns 168,743 shares of the company’s stock, valued at $7,234,012.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff Lautenbach sold 7,200 shares of the stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $41.00, for a total transaction of $295,200.00. Following the completion of the sale, the insider now owns 122,117 shares of the company’s stock, valued at approximately $5,006,797. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,890 shares of company stock worth $1,700,028. Company insiders own 7.20% of the company’s stock.

A number of analysts recently issued reports on the company. Mizuho lifted their price objective on Cornerstone OnDemand from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, February 17th. Needham & Company LLC boosted their price target on Cornerstone OnDemand from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 17th. BMO Capital Markets dropped their price objective on Cornerstone OnDemand from $63.00 to $50.00 and set a “market perform” rating on the stock in a report on Friday, May 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Cornerstone OnDemand from a “buy” rating to a “hold” rating in a research note on Wednesday, May 19th. Finally, JMP Securities increased their price target on shares of Cornerstone OnDemand from $61.00 to $83.00 in a research note on Wednesday, February 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.33.

Cornerstone OnDemand Profile

Cornerstone OnDemand, Inc, together with its subsidiaries, provides learning and people development solutions as software-as-a-service worldwide. Its enterprise people development solutions comprise learning solutions, which provide learning management software to scale with the organization and support compliance, knowledge sharing, and employee-driven development training to close skills gaps; content solution, which provides learning content from its own studios and various quality partners; performance solutions, which provide tools to manage goal setting, performance reviews, competency assessments, compensation management, and succession planning; careers solution, which helps employees understand how to get from their current position to future strategic roles with continuous feedback, goal setting, development plans, career exploration, and engagement survey tools; recruiting solutions, which help organizations to attract, hire, and onboard the right employees; and HR solution, which provides an aggregated view of 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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