IFM Investors Pty Ltd Has $15.68 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

IFM Investors Pty Ltd decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,850 shares of the software maker’s stock after selling 198 shares during the period. IFM Investors Pty Ltd’s holdings in Cadence Design Systems were worth $15,679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CDNS. Sunbelt Securities Inc. grew its position in Cadence Design Systems by 18.7% in the first quarter. Sunbelt Securities Inc. now owns 865 shares of the software maker’s stock worth $269,000 after acquiring an additional 136 shares in the last quarter. Brookstone Capital Management increased its position in Cadence Design Systems by 15.4% during the first quarter. Brookstone Capital Management now owns 1,037 shares of the software maker’s stock worth $323,000 after buying an additional 138 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Cadence Design Systems by 4.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock valued at $296,000 after buying an additional 41 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Cadence Design Systems by 110.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,924 shares of the software maker’s stock worth $8,692,000 after buying an additional 14,644 shares during the last quarter. Finally, 180 Wealth Advisors LLC bought a new stake in shares of Cadence Design Systems during the 1st quarter worth about $207,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CDNS shares. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Robert W. Baird reduced their price objective on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, October 7th. KeyCorp boosted their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Finally, Oppenheimer assumed coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.42.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Chin-Chi Teng sold 10,000 shares of Cadence Design Systems stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $276.36, for a total transaction of $2,763,600.00. Following the sale, the vice president now directly owns 95,408 shares in the company, valued at approximately $26,366,954.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the transaction, the vice president now directly owns 65,194 shares in the company, valued at $17,357,250.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Chin-Chi Teng sold 10,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $276.36, for a total transaction of $2,763,600.00. Following the completion of the sale, the vice president now owns 95,408 shares in the company, valued at $26,366,954.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,728,272 in the last 90 days. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Trading Up 0.9 %

Cadence Design Systems stock opened at $251.28 on Friday. The business has a 50 day moving average price of $268.47 and a two-hundred day moving average price of $283.48. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. Cadence Design Systems, Inc. has a 12 month low of $228.66 and a 12 month high of $328.99. The stock has a market cap of $68.45 billion, a price-to-earnings ratio of 65.44, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $0.94 earnings per share. Cadence Design Systems’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.