M&T Bank Corp Boosts Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

M&T Bank Corp lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,103 shares of the software maker’s stock after purchasing an additional 3,440 shares during the quarter. M&T Bank Corp’s holdings in Cadence Design Systems were worth $4,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Capital LLC boosted its holdings in shares of Cadence Design Systems by 28.8% in the 3rd quarter. Cedar Capital LLC now owns 30,461 shares of the software maker’s stock worth $3,248,000 after purchasing an additional 6,820 shares in the last quarter. Howard Capital Management Inc. lifted its stake in shares of Cadence Design Systems by 7.1% in the 3rd quarter. Howard Capital Management Inc. now owns 6,430 shares of the software maker’s stock valued at $686,000 after acquiring an additional 425 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Cadence Design Systems by 412.3% in the 2nd quarter. SG Americas Securities LLC now owns 56,571 shares of the software maker’s stock valued at $5,429,000 after acquiring an additional 45,529 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Cadence Design Systems by 14.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 67,040 shares of the software maker’s stock valued at $6,433,000 after acquiring an additional 8,325 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Cadence Design Systems by 62.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 20,418 shares of the software maker’s stock valued at $1,959,000 after acquiring an additional 7,841 shares during the last quarter. Hedge funds and other institutional investors own 86.11% of the company’s stock.

Shares of NASDAQ:CDNS opened at $114.86 on Tuesday. Cadence Design Systems, Inc. has a 52-week low of $51.39 and a 52-week high of $127.50. The firm has a market capitalization of $32.04 billion, a P/E ratio of 29.83, a P/E/G ratio of 3.68 and a beta of 1.11. The stock has a 50 day moving average price of $112.57 and a 200-day moving average price of $101.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.55.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 19th. The software maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Cadence Design Systems had a return on equity of 48.31% and a net margin of 42.68%. The firm had revenue of $667.00 million during the quarter, compared to analyst estimates of $642.29 million. During the same quarter in the prior year, the company earned $0.54 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 2.02 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the company. DA Davidson boosted their target price on Cadence Design Systems from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Needham & Company LLC boosted their target price on Cadence Design Systems from $115.00 to $126.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Royal Bank of Canada boosted their target price on Cadence Design Systems from $122.00 to $127.00 and gave the company an “outperform” rating in a research note on Tuesday, October 20th. Robert W. Baird upped their price target on Cadence Design Systems from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price target on Cadence Design Systems from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, October 20th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $110.09.

In other news, VP Thomas P. Beckley sold 23,806 shares of the stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $110.00, for a total value of $2,618,660.00. Following the completion of the transaction, the vice president now owns 269,216 shares of the company’s stock, valued at approximately $29,613,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Aneel Zaman sold 1,765 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $111.25, for a total value of $196,356.25. Following the completion of the transaction, the vice president now directly owns 173,444 shares of the company’s stock, valued at approximately $19,295,645. The disclosure for this sale can be found here. Insiders sold a total of 83,493 shares of company stock valued at $9,476,460 in the last three months. Corporate insiders own 2.58% of the company’s stock.

Cadence Design Systems Profile

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 logic simulation platform; Palladium, an emulation platform; and Protium, a prototyping platform for chip verification.

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

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