Teacher Retirement System of Texas Grows Stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD)

Teacher Retirement System of Texas raised its stake in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 17.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,068 shares of the software maker’s stock after acquiring an additional 1,075 shares during the period. Teacher Retirement System of Texas’ holdings in Cornerstone OnDemand were worth $365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSOD. Baillie Gifford & Co. purchased a new stake in shares of Cornerstone OnDemand in the first quarter worth $45,000. Twin Lakes Capital Management LLC purchased a new stake in shares of Cornerstone OnDemand during the first quarter valued at $105,000. Royal Bank of Canada boosted its position in shares of Cornerstone OnDemand by 180.7% during the first quarter. Royal Bank of Canada now owns 4,485 shares of the software maker’s stock valued at $195,000 after buying an additional 2,887 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Cornerstone OnDemand during the first quarter valued at $214,000. Finally, Prudential Financial Inc. boosted its position in shares of Cornerstone OnDemand by 5.7% during the first quarter. Prudential Financial Inc. now owns 5,794 shares of the software maker’s stock valued at $253,000 after buying an additional 313 shares during the last quarter. 87.14% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Adam L. Miller sold 3,860 shares of the business’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $56.68, for a total transaction of $218,784.80. Following the completion of the transaction, the insider now owns 1,429,889 shares in the company, valued at approximately $81,046,108.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Mark Goldin sold 22,442 shares of the business’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $56.81, for a total value of $1,274,930.02. The disclosure for this sale can be found here. Insiders have sold a total of 46,302 shares of company stock valued at $2,557,635 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

Shares of CSOD opened at $57.25 on Wednesday. The business’s 50 day moving average is $53.71 and its 200 day moving average is $49.15. The company has a market capitalization of $3.82 billion, a PE ratio of -133.14 and a beta of 1.30. Cornerstone OnDemand, Inc. has a 12-month low of $32.99 and a 12-month high of $57.50. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 3.45.

Cornerstone OnDemand (NASDAQ:CSOD) last issued its earnings results on Thursday, August 5th. The software maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.20. Cornerstone OnDemand had a positive return on equity of 65.00% and a negative net margin of 3.26%. Equities research analysts predict that Cornerstone OnDemand, Inc. will post 2.08 earnings per share for the current year.

CSOD has been the topic of several recent analyst reports. Needham & Company LLC cut Cornerstone OnDemand from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Mizuho increased their target price on Cornerstone OnDemand from $45.00 to $57.50 and gave the company a “neutral” rating in a report on Monday, August 9th. Zacks Investment Research downgraded Cornerstone OnDemand from a “buy” rating to a “hold” rating in a research note on Wednesday, May 19th. Finally, Berenberg Bank downgraded Cornerstone OnDemand from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $61.00 to $57.50 in a research note on Monday, August 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Cornerstone OnDemand presently has an average rating of “Hold” and an average target price of $60.75.

Cornerstone OnDemand Company Profile

Cornerstone OnDemand, Inc engages in the provision of learning and talent management solutions delivered as Software-as-a-Service. It also engages in the provision of support packages, client success framework, technical consulting and content, implementation, business consulting and educational services.

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

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