Cornerstone OnDemand Sees Unusually High Options Volume (CSOD)

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Cornerstone OnDemand, Inc. (NASDAQ:CSOD) was the target of some unusual options trading on Thursday. Stock investors acquired 1,334 call options on the company. This is an increase of 2,370% compared to the average volume of 54 call options.

In related news, CEO Adam L. Miller sold 21,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $57.33, for a total value of $1,203,930.00. Following the transaction, the chief executive officer now directly owns 2,404,434 shares of the company’s stock, valued at approximately $137,846,201.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam L. Miller sold 25,320 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $53.96, for a total value of $1,366,267.20. Following the completion of the transaction, the chief executive officer now directly owns 2,441,258 shares in the company, valued at $131,730,281.68. The disclosure for this sale can be found here. Insiders sold a total of 145,342 shares of company stock worth $7,969,532 over the last three months. 9.40% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Raymond James & Associates raised its position in shares of Cornerstone OnDemand by 0.8% during the first quarter. Raymond James & Associates now owns 26,060 shares of the software maker’s stock worth $1,428,000 after acquiring an additional 212 shares during the last quarter. Legal & General Group Plc increased its holdings in Cornerstone OnDemand by 1.4% in the third quarter. Legal & General Group Plc now owns 18,455 shares of the software maker’s stock valued at $1,047,000 after purchasing an additional 250 shares during the last quarter. Advisor Group Inc. increased its holdings in Cornerstone OnDemand by 33.2% in the first quarter. Advisor Group Inc. now owns 1,132 shares of the software maker’s stock valued at $62,000 after purchasing an additional 282 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Cornerstone OnDemand by 0.7% in the first quarter. Macquarie Group Ltd. now owns 47,556 shares of the software maker’s stock valued at $2,605,000 after purchasing an additional 314 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its holdings in Cornerstone OnDemand by 9.2% in the first quarter. Greenwood Capital Associates LLC now owns 5,614 shares of the software maker’s stock valued at $308,000 after purchasing an additional 472 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors and hedge funds.

CSOD stock traded down $1.09 during trading on Friday, hitting $55.13. The company had a trading volume of 17,297 shares, compared to its average volume of 436,845. The company has a debt-to-equity ratio of 4.88, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -240.30 and a beta of 1.11. Cornerstone OnDemand has a fifty-two week low of $45.89 and a fifty-two week high of $60.19.

Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings results on Tuesday, May 7th. The software maker reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.23). The company had revenue of $140.10 million during the quarter, compared to analyst estimates of $135.51 million. Cornerstone OnDemand had a negative net margin of 3.87% and a negative return on equity of 15.15%. Cornerstone OnDemand’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. On average, research analysts anticipate that Cornerstone OnDemand will post -0.07 earnings per share for the current year.

Several brokerages have commented on CSOD. BidaskClub downgraded Cornerstone OnDemand from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 5th. Zacks Investment Research raised Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Monday, February 18th. JMP Securities reissued a “buy” rating and set a $65.00 price objective on shares of Cornerstone OnDemand in a report on Sunday, February 17th. Bank of America lifted their price objective on Cornerstone OnDemand from $62.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Finally, DA Davidson assumed coverage on Cornerstone OnDemand in a report on Friday, February 1st. They set a “buy” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.36.

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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 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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