Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Holdings Raised by Cwm LLC

Cwm LLC raised its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,672 shares of the software maker’s stock after purchasing an additional 193 shares during the period. Cwm LLC’s holdings in Cadence Design Systems were worth $1,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Jennison Associates LLC boosted its holdings in shares of Cadence Design Systems by 8.7% in the 3rd quarter. Jennison Associates LLC now owns 7,047,231 shares of the software maker’s stock valued at $1,651,166,000 after buying an additional 564,085 shares during the period. Northern Trust Corp boosted its holdings in shares of Cadence Design Systems by 5.6% in the 3rd quarter. Northern Trust Corp now owns 2,995,849 shares of the software maker’s stock valued at $701,927,000 after buying an additional 158,031 shares during the period. Invesco Ltd. boosted its holdings in shares of Cadence Design Systems by 4.9% in the 3rd quarter. Invesco Ltd. now owns 2,012,292 shares of the software maker’s stock valued at $471,480,000 after buying an additional 93,984 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Cadence Design Systems by 124.8% in the 4th quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock valued at $515,995,000 after buying an additional 1,052,228 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Cadence Design Systems by 143.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,634,920 shares of the software maker’s stock valued at $383,062,000 after buying an additional 962,987 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $308.83, for a total value of $463,245.00. Following the sale, the director now directly owns 50,183 shares in the company, valued at approximately $15,498,015.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $310.46, for a total transaction of $186,276.00. Following the sale, the senior vice president now owns 21,080 shares in the company, valued at $6,544,496.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $308.83, for a total transaction of $463,245.00. Following the sale, the director now owns 50,183 shares in the company, valued at approximately $15,498,015.89. The disclosure for this sale can be found here. Insiders have sold 173,044 shares of company stock worth $52,231,207 in the last ninety days. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Trading Down 0.2 %

Shares of NASDAQ:CDNS opened at $277.08 on Friday. The company has a 50 day moving average of $304.01 and a 200-day moving average of $280.94. The firm has a market cap of $75.43 billion, a P/E ratio of 72.16, a P/E/G ratio of 3.43 and a beta of 1.04. Cadence Design Systems, Inc. has a twelve month low of $198.92 and a twelve month high of $327.36. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the firm earned $1.02 EPS. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 4.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley raised shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $260.00 to $350.00 in a report on Wednesday, February 14th. KeyCorp boosted their target price on shares of Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Stifel Nicolaus boosted their target price on shares of Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. StockNews.com raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $316.50.

About Cadence Design Systems

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.