Los Angeles Capital Management & Equity Research Inc. Boosts Position in Cornerstone OnDemand, Inc. (NASDAQ:CSOD)
Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,741 shares of the software maker’s stock after purchasing an additional 2,460 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.12% of Cornerstone OnDemand worth $4,015,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CSOD. Castleark Management LLC acquired a new stake in Cornerstone OnDemand in the 2nd quarter worth approximately $12,364,000. Victory Capital Management Inc. lifted its holdings in Cornerstone OnDemand by 51.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,192,949 shares of the software maker’s stock worth $67,701,000 after purchasing an additional 406,670 shares during the last quarter. Rothschild Asset Management Inc. acquired a new stake in Cornerstone OnDemand in the 2nd quarter worth approximately $2,385,000. Impax Asset Management LLC acquired a new stake in Cornerstone OnDemand in the 2nd quarter worth approximately $761,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in Cornerstone OnDemand in the 3rd quarter worth approximately $5,829,000. Institutional investors and hedge funds own 93.82% of the company’s stock.
A number of research analysts recently commented on the company. BidaskClub upgraded Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 7th. Zacks Investment Research lowered Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Mitsubishi UFJ Financial Group upped their target price on Cornerstone OnDemand to $55.00 and gave the company a “neutral” rating in a research note on Thursday, November 8th. First Analysis set a $69.00 target price on Cornerstone OnDemand and gave the company a “buy” rating in a research note on Monday, September 17th. Finally, Barclays upped their target price on Cornerstone OnDemand from $40.00 to $48.00 and gave the company an “underweight” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $56.73.
NASDAQ:CSOD traded down $1.28 during trading hours on Friday, reaching $51.10. The company had a trading volume of 494,647 shares, compared to its average volume of 408,374. The company has a debt-to-equity ratio of 5.29, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -73.00 and a beta of 1.06. Cornerstone OnDemand, Inc. has a one year low of $34.32 and a one year high of $59.18.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its earnings results on Wednesday, November 7th. The software maker reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $130.07 million. Cornerstone OnDemand had a negative return on equity of 41.67% and a negative net margin of 7.46%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. Research analysts expect that Cornerstone OnDemand, Inc. will post -0.2 EPS for the current fiscal year.
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Cornerstone OnDemand Company Profile
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 source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; 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 supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.
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