Cadence Design Systems Inc (NASDAQ:CDNS) Shares Sold by Rampart Investment Management Company LLC

Rampart Investment Management Company LLC cut its position in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,637 shares of the software maker’s stock after selling 708 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Cadence Design Systems were worth $612,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CDNS. Geode Capital Management LLC grew its holdings in shares of Cadence Design Systems by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 4,535,500 shares of the software maker’s stock worth $196,926,000 after acquiring an additional 235,512 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Cadence Design Systems by 1,088.1% in the 1st quarter. Victory Capital Management Inc. now owns 49,557 shares of the software maker’s stock worth $3,147,000 after acquiring an additional 45,386 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Cadence Design Systems by 1.4% in the 1st quarter. Raymond James & Associates now owns 163,448 shares of the software maker’s stock worth $10,381,000 after acquiring an additional 2,331 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Cadence Design Systems by 6.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,392 shares of the software maker’s stock worth $1,041,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Mason Street Advisors LLC grew its holdings in shares of Cadence Design Systems by 0.6% in the 1st quarter. Mason Street Advisors LLC now owns 40,001 shares of the software maker’s stock worth $2,540,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

In related news, CEO Lip Bu Tan sold 40,000 shares of Cadence Design Systems stock in a transaction on Monday, July 15th. The stock was sold at an average price of $75.12, for a total transaction of $3,004,800.00. Following the completion of the sale, the chief executive officer now owns 899,852 shares of the company’s stock, valued at $67,596,882.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Surendra Babu Mandava sold 4,027 shares of Cadence Design Systems stock in a transaction on Friday, September 6th. The shares were sold at an average price of $70.60, for a total value of $284,306.20. Following the sale, the vice president now directly owns 299,760 shares of the company’s stock, valued at approximately $21,163,056. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,936 shares of company stock valued at $11,022,704. Insiders own 2.34% of the company’s stock.

A number of research analysts have recently weighed in on the company. BidaskClub downgraded Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. ValuEngine downgraded Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price target on Cadence Design Systems to $76.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. DA Davidson lifted their price target on Cadence Design Systems to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Cadence Design Systems from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.25.

Shares of CDNS stock traded down $0.66 on Thursday, reaching $67.13. 37,978 shares of the company’s stock traded hands, compared to its average volume of 1,798,045. Cadence Design Systems Inc has a 12-month low of $39.08 and a 12-month high of $77.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.52 and a current ratio of 1.60. The company has a market capitalization of $18.41 billion, a P/E ratio of 54.62, a price-to-earnings-growth ratio of 4.43 and a beta of 1.18. The business’s 50 day moving average price is $68.92 and its two-hundred day moving average price is $67.54.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $580.42 million during the quarter, compared to analysts’ expectations of $579.41 million. Cadence Design Systems had a return on equity of 31.86% and a net margin of 18.83%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. Research analysts predict that Cadence Design Systems Inc will post 1.48 earnings per share for the current year.

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 simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform.

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

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