Cadence Design Systems Inc (CDNS) Shares Sold by Old Mutual Global Investors UK Ltd.

Old Mutual Global Investors UK Ltd. cut its stake in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,055,873 shares of the software maker’s stock after selling 6,627 shares during the quarter. Old Mutual Global Investors UK Ltd.’s holdings in Cadence Design Systems were worth $127,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in Cadence Design Systems by 6.4% during the second quarter. PNC Financial Services Group Inc. now owns 10,130 shares of the software maker’s stock valued at $338,000 after purchasing an additional 612 shares during the last quarter. First Republic Investment Management Inc. lifted its position in Cadence Design Systems by 7.1% during the third quarter. First Republic Investment Management Inc. now owns 22,584 shares of the software maker’s stock valued at $892,000 after purchasing an additional 1,491 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in Cadence Design Systems by 3.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 57,400 shares of the software maker’s stock valued at $2,400,000 after purchasing an additional 1,766 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Cadence Design Systems by 5.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 36,934 shares of the software maker’s stock valued at $1,458,000 after purchasing an additional 1,811 shares during the last quarter. Finally, Camelot Portfolios LLC lifted its position in Cadence Design Systems by 21.3% during the fourth quarter. Camelot Portfolios LLC now owns 11,402 shares of the software maker’s stock valued at $477,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 84.91% of the company’s stock.

Shares of Cadence Design Systems Inc (NASDAQ:CDNS) opened at $38.60 on Tuesday. The firm has a market cap of $10,639.32, a P/E ratio of 34.89, a PEG ratio of 3.68 and a beta of 0.97. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.65. Cadence Design Systems Inc has a 1-year low of $29.50 and a 1-year high of $46.00.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. The firm had revenue of $501.70 million during the quarter, compared to analyst estimates of $496.20 million. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. research analysts predict that Cadence Design Systems Inc will post 0.85 earnings per share for the current year.

In related news, CFO John M. Wall sold 750 shares of Cadence Design Systems stock in a transaction on Monday, February 12th. The shares were sold at an average price of $37.93, for a total value of $28,447.50. Following the transaction, the chief financial officer now directly owns 129,673 shares of the company’s stock, valued at $4,918,496.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Aneel Zaman sold 32,255 shares of Cadence Design Systems stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $44.32, for a total transaction of $1,429,541.60. Following the completion of the transaction, the vice president now directly owns 217,497 shares in the company, valued at $9,639,467.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,031 shares of company stock worth $12,743,334. 2.55% of the stock is owned by insiders.

A number of brokerages have recently weighed in on CDNS. Royal Bank of Canada restated a “buy” rating and issued a $46.00 price objective on shares of Cadence Design Systems in a report on Friday, October 27th. Needham & Company LLC restated a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. DA Davidson boosted their price objective on shares of Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, November 1st. Finally, KeyCorp restated a “hold” rating on shares of Cadence Design Systems in a report on Sunday, November 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Cadence Design Systems currently has a consensus rating of “Hold” and an average price target of $44.20.

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

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