Gotham Asset Management LLC Has $1.17 Million Position in Cadence Design Systems, Inc. (CDNS)

Gotham Asset Management LLC trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 25.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,053 shares of the software maker’s stock after selling 12,163 shares during the quarter. Gotham Asset Management LLC’s holdings in Cadence Design Systems were worth $1,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cadence Design Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 24,488,691 shares of the software maker’s stock valued at $820,127,000 after purchasing an additional 516,100 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Cadence Design Systems by 73,454.0% in the 2nd quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock valued at $693,303,000 after purchasing an additional 20,673,635 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Cadence Design Systems by 48.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,771,026 shares of the software maker’s stock valued at $149,811,000 after purchasing an additional 1,549,905 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in shares of Cadence Design Systems by 2.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,191,828 shares of the software maker’s stock valued at $147,301,000 after purchasing an additional 108,344 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Cadence Design Systems by 32.8% in the 2nd quarter. Bank of Montreal Can now owns 3,158,114 shares of the software maker’s stock valued at $105,765,000 after purchasing an additional 780,585 shares in the last quarter. Institutional investors and hedge funds own 84.44% of the company’s stock.

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A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Royal Bank Of Canada restated a “buy” rating on shares of Cadence Design Systems in a report on Friday, July 7th. Bank of America Corporation raised their price objective on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $38.25.

Shares of Cadence Design Systems, Inc. (NASDAQ CDNS) traded down 0.47% during midday trading on Friday, reaching $42.52. 328,425 shares of the company traded hands. The company has a 50 day moving average of $39.89 and a 200 day moving average of $36.02. The firm has a market capitalization of $11.91 billion, a P/E ratio of 49.44 and a beta of 0.93. Cadence Design Systems, Inc. has a 12 month low of $24.15 and a 12 month high of $42.80.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 12.86% and a return on equity of 27.81%. The firm had revenue of $485.40 million for the quarter, compared to the consensus estimate of $481.10 million. During the same period in the prior year, the firm posted $0.30 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current fiscal year.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $41.97, for a total transaction of $4,197,000.00. Following the sale, the chief executive officer now directly owns 445,833 shares of the company’s stock, valued at $18,711,611.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James J. Cowie sold 5,036 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $37.21, for a total transaction of $187,389.56. Following the sale, the vice president now directly owns 82,082 shares in the company, valued at $3,054,271.22. The disclosure for this sale can be found here. Insiders have sold a total of 260,786 shares of company stock worth $10,186,400 over the last quarter. 2.55% of the stock is currently owned by insiders.

About Cadence Design Systems

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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