Parametric Portfolio Associates LLC Trims Stake in Cornerstone OnDemand, Inc. (CSOD)

Parametric Portfolio Associates LLC cut its stake in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 34.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,791 shares of the software maker’s stock after selling 68,134 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.23% of Cornerstone OnDemand worth $4,676,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP raised its holdings in Cornerstone OnDemand by 153.2% during the 2nd quarter. Quantbot Technologies LP now owns 2,874 shares of the software maker’s stock worth $102,000 after purchasing an additional 1,739 shares during the last quarter. Gradient Investments LLC acquired a new position in shares of Cornerstone OnDemand during the 2nd quarter worth about $177,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Cornerstone OnDemand during the 1st quarter worth about $219,000. BNP Paribas Arbitrage SA grew its position in shares of Cornerstone OnDemand by 530.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,475 shares of the software maker’s stock worth $231,000 after buying an additional 5,448 shares during the period. Finally, Amalgamated Bank grew its position in shares of Cornerstone OnDemand by 8.7% during the 2nd quarter. Amalgamated Bank now owns 6,704 shares of the software maker’s stock worth $240,000 after buying an additional 535 shares during the period. 91.34% of the stock is owned by institutional investors.

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A number of equities analysts have weighed in on CSOD shares. B. Riley reduced their price target on Cornerstone OnDemand from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Friday. Barclays PLC upped their price objective on Cornerstone OnDemand from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday. KeyCorp reissued a “hold” rating on shares of Cornerstone OnDemand in a report on Thursday. Piper Jaffray Companies lowered Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 target price on the stock. in a report on Thursday. Finally, Zacks Investment Research lowered Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Cornerstone OnDemand presently has a consensus rating of “Hold” and a consensus price target of $43.56.

In other news, Director R C. Mark Baker sold 1,000 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $34.12, for a total value of $34,120.00. Following the completion of the transaction, the director now owns 23,850 shares of the company’s stock, valued at approximately $813,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam L. Miller sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $41.28, for a total value of $990,720.00. Following the completion of the sale, the chief executive officer now owns 3,539,587 shares in the company, valued at approximately $146,114,151.36. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $1,429,460 over the last 90 days. 12.60% of the stock is currently owned by company insiders.

Cornerstone OnDemand, Inc. (CSOD) traded down $0.07 during trading hours on Friday, hitting $34.76. The company had a trading volume of 1,082,000 shares, compared to its average volume of 634,657. Cornerstone OnDemand, Inc. has a 12 month low of $32.88 and a 12 month high of $44.25.

Cornerstone OnDemand (NASDAQ:CSOD) last posted its earnings results on Wednesday, November 8th. The software maker reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Cornerstone OnDemand had a negative return on equity of 187.39% and a negative net margin of 12.20%. The business had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $118.95 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. research analysts anticipate that Cornerstone OnDemand, Inc. will post -0.7 earnings per share for the current year.

Cornerstone OnDemand declared that its board has initiated a share buyback program on Wednesday, November 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.

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

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