Today: The Retirement Systems of Alabama lowers its Position in Cornerstone OnDemand Inc. (CSOD)

The Retirement Systems of Alabama lowers its Position in Cornerstone OnDemand Inc. (CSOD)

Retirement Systems of Alabama cut its stake in Cornerstone OnDemand Inc. (NASDAQ:CSOD) by 30.0% during the second quarter, Holdings Channel reports. The institutional investor owned 233,500 shares of the company’s stock after selling 100,000 shares during the period. Retirement Systems of Alabama’s holdings in Cornerstone OnDemand were worth $8,887,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted its position in shares of Cornerstone OnDemand by 25.3% in the first quarter. TIAA CREF Investment Management LLC now owns 219,628 shares of the company’s stock valued at $7,197,000 after buying an additional 44,342 shares in the last quarter. BlackRock Inc. boosted its position in shares of Cornerstone OnDemand by 151.9% in the first quarter. BlackRock Inc. now owns 3,836 shares of the company’s stock valued at $126,000 after buying an additional 2,313 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Cornerstone OnDemand by 13.6% in the first quarter. BlackRock Group LTD now owns 35,856 shares of the company’s stock valued at $1,175,000 after buying an additional 4,304 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Cornerstone OnDemand during the first quarter valued at about $1,063,000. Finally, TimesSquare Capital Management LLC boosted its position in shares of Cornerstone OnDemand by 1.5% in the first quarter. TimesSquare Capital Management LLC now owns 1,701,601 shares of the company’s stock valued at $55,761,000 after buying an additional 25,200 shares in the last quarter. Hedge funds and other institutional investors own 90.53% of the company’s stock.

Cornerstone OnDemand Inc. (NASDAQ:CSOD) traded down 3.02% during trading on Friday, hitting $43.60. The stock had a trading volume of 786,837 shares. The stock’s market capitalization is $2.44 billion. The stock’s 50-day moving average is $45.15 and its 200-day moving average is $40.26. Cornerstone OnDemand Inc. has a 52-week low of $22.25 and a 52-week high of $47.75.

Several research analysts have recently issued reports on CSOD shares. Credit Suisse Group AG restated a “buy” rating on shares of Cornerstone OnDemand in a report on Wednesday, June 29th. First Analysis started coverage on shares of Cornerstone OnDemand in a report on Friday, July 1st. They issued an “overweight” rating and a $50.00 target price on the stock. Needham & Company LLC restated a “top pick” rating on shares of Cornerstone OnDemand in a report on Thursday, July 14th. Barclays PLC upgraded shares of Cornerstone OnDemand from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $32.00 to $44.00 in a report on Friday, July 15th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Cornerstone OnDemand in a report on Sunday, July 17th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $45.60.

In other Cornerstone OnDemand news, Director R C. Mark Baker sold 4,000 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $46.90, for a total value of $187,600.00. Following the sale, the director now owns 22,000 shares in the company, valued at $1,031,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Kirsten Maas Helvey sold 2,500 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $44.00, for a total value of $110,000.00. Following the completion of the sale, the chief operating officer now owns 76,283 shares in the company, valued at approximately $3,356,452. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.

About Cornerstone OnDemand

Cornerstone OnDemand, Inc (Cornerstone) is a provider of talent management solutions delivered as Software-as-a-Service (SaaS). Cornerstone’s Enterprise and Mid-Market solution is a cloud-based suite that addresses needs throughout the entire employee lifecycle, from recruitment, onboarding, training and collaboration, to performance management, compensation, succession planning and analytics.

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