Tensile Capital Management buys $74,002,975 stake in Cornerstone OnDemand (CSOD)

Cornerstone OnDemand (CSOD) : Tensile Capital Management scooped up 785,747 additional shares in Cornerstone OnDemand during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,660,749 shares of Cornerstone OnDemand which is valued at $74,002,975.Cornerstone OnDemand makes up approximately 18.97% of Tensile Capital Management’s portfolio.

Other Hedge Funds, Including , Wasatch Advisors Inc boosted its stake in CSOD in the latest quarter, The investment management firm added 363,034 additional shares and now holds a total of 5,813,445 shares of Cornerstone OnDemand which is valued at $259,047,109. Cornerstone OnDemand makes up approx 3.78% of Wasatch Advisors Inc’s portfolio. Secor Capital Advisors Lp added CSOD to its portfolio by purchasing 109,091 company shares during the most recent quarter which is valued at $4,869,822. Cornerstone OnDemand makes up approx 0.68% of Secor Capital Advisors Lp’s portfolio.Washington Capital Management Inc reduced its stake in CSOD by selling 1,300 shares or 10.92% in the most recent quarter. The Hedge Fund company now holds 10,600 shares of CSOD which is valued at $477,848. Cornerstone OnDemand makes up approx 0.65% of Washington Capital Management Inc’s portfolio. Hanseatic Management Services Inc added CSOD to its portfolio by purchasing 20 company shares during the most recent quarter which is valued at $902.State Board Of Administration Of Florida Retirement System reduced its stake in CSOD by selling 5,367 shares or 12.24% in the most recent quarter. The Hedge Fund company now holds 38,493 shares of CSOD which is valued at $1,735,264. Cornerstone OnDemand makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio.

Cornerstone OnDemand opened for trading at $43.52 and hit $44.89 on the upside on Thursday, eventually ending the session at $44.82, with a gain of 2.05% or 0.9 points. The heightened volatility saw the trading volume jump to 7,29,311 shares. Company has a market cap of $2,507 M.

On the company’s financial health, Cornerstone OnDemand reported $-0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $0.02. The company had revenue of $96.00 million for the quarter, compared to analysts expectations of $97.70 million. The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.

Many Wall Street Analysts have commented on Cornerstone OnDemand. Company shares were Reiterated by First Analysis Sec on Sep 6, 2016 to “Overweight”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .Piper Jaffray Initiated Cornerstone OnDemand on Sep 2, 2016 to “Overweight”, Price Target of the shares are set at $53.Company shares were Reiterated by Wunderlich on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 51 from a previous price target of $42 .

Cornerstone OnDemand Inc. 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 hiring developing engaging employees throughout their careers. The Company also offers Cornerstone Growth Edition which is a cloud-based talent management solution with learning and performance product offerings targeted to organizations with fewer than 400 employees. The Company’s product offerings include Cornerstone Recruiting Cornerstone Onboarding Cornerstone Learning Cornerstone Performance Cornerstone Succession Cornerstone Compensation Cornerstone Extended Enterprise and Cornerstone for Salesforce. The Company’s clients include multi-national companies large domestic and foreign-based enterprises mid-market companies public sector organizations higher education institutions and non-profit entities.

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