Schroder Investment Management Group decreased its position in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,655,679 shares of the software maker’s stock after selling 142,085 shares during the period. Schroder Investment Management Group’s holdings in Cadence Design Systems were worth $69,241,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerebellum GP LLC acquired a new position in Cadence Design Systems during the 4th quarter worth about $123,000. Advisor Group Inc. lifted its stake in Cadence Design Systems by 151.4% during the 3rd quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after acquiring an additional 2,505 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Cadence Design Systems during the 3rd quarter worth about $170,000. Parkwood LLC acquired a new position in Cadence Design Systems during the 3rd quarter worth about $201,000. Finally, Coldstream Capital Management Inc. acquired a new position in Cadence Design Systems during the 3rd quarter worth about $207,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $43.52, for a total value of $4,352,000.00. Following the transaction, the chief executive officer now owns 533,333 shares in the company, valued at approximately $23,210,652.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 750 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $37.93, for a total value of $28,447.50. Following the completion of the transaction, the chief financial officer now owns 129,673 shares in the company, valued at approximately $4,918,496.89. The disclosure for this sale can be found here. Insiders sold a total of 256,776 shares of company stock worth $11,313,793 in the last ninety days. 2.55% of the stock is owned by corporate insiders.
Several research firms recently issued reports on CDNS. BidaskClub lowered Cadence Design Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Credit Suisse Group reissued a “neutral” rating and set a $43.00 target price (up previously from $37.00) on shares of Cadence Design Systems in a research note on Thursday, February 1st. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. Zacks Investment Research lowered Cadence Design Systems from a “hold” rating to a “strong sell” rating in a research note on Monday, February 5th. Finally, DA Davidson increased their target price on Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Cadence Design Systems has an average rating of “Hold” and an average target price of $44.20.
Shares of Cadence Design Systems Inc (CDNS) opened at $39.16 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.47. The stock has a market capitalization of $11,057.22, a PE ratio of 36.26, a price-to-earnings-growth ratio of 3.82 and a beta of 0.97. Cadence Design Systems Inc has a 12-month low of $29.69 and a 12-month high of $46.00.
Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $501.70 million for the quarter, compared to analyst estimates of $496.20 million. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. Cadence Design Systems’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. equities research analysts expect that Cadence Design Systems Inc will post 0.85 earnings per share for the current fiscal year.
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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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