Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 15.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,301 shares of the software maker’s stock after purchasing an additional 5,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cadence Design Systems were worth $1,630,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Cadence Design Systems by 73,454.0% in the second quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock worth $693,303,000 after buying an additional 20,673,635 shares during the last quarter. APG Asset Management N.V. raised its stake in Cadence Design Systems by 20,049.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,667,241 shares of the software maker’s stock valued at $144,746,000 after purchasing an additional 3,649,041 shares during the last quarter. AJO LP raised its stake in Cadence Design Systems by 416.3% during the 2nd quarter. AJO LP now owns 1,757,187 shares of the software maker’s stock valued at $58,848,000 after purchasing an additional 1,416,833 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Cadence Design Systems by 88.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,941,000 shares of the software maker’s stock valued at $116,081,000 after purchasing an additional 1,378,800 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Cadence Design Systems by 226.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,721,641 shares of the software maker’s stock valued at $57,658,000 after purchasing an additional 1,193,576 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.
In other Cadence Design Systems news, VP Aneel Zaman sold 32,255 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.32, for a total transaction of $1,429,541.60. Following the sale, the vice president now directly owns 217,497 shares in the company, valued at approximately $9,639,467.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lip Bu Tan sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was 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 owns 445,833 shares in the company, valued at $18,711,611.01. The disclosure for this sale can be found here. Insiders sold a total of 230,974 shares of company stock worth $9,912,010 over the last quarter. 2.55% of the stock is currently owned by corporate insiders.
Cadence Design Systems Inc (NASDAQ:CDNS) opened at $43.68 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.64. Cadence Design Systems Inc has a 52-week low of $25.18 and a 52-week high of $45.64. The stock has a market cap of $12,470.00, a PE ratio of 46.44, a price-to-earnings-growth ratio of 3.41 and a beta of 0.93.
Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $485.40 million for the quarter, compared to the consensus estimate of $481.10 million. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. equities research analysts anticipate that Cadence Design Systems Inc will post 1.06 earnings per share for the current year.
Several equities research analysts have issued reports on the stock. DA Davidson boosted their price target on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, November 1st. Royal Bank of Canada upped their target price on shares of Cadence Design Systems from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cadence Design Systems has a consensus rating of “Buy” and an average price target of $44.50.
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Cadence Design Systems Company Profile
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).
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