Janus Henderson Group PLC Acquires 285,617 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Janus Henderson Group PLC lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,530,293 shares of the software maker’s stock after buying an additional 285,617 shares during the period. Janus Henderson Group PLC owned about 0.92% of Cadence Design Systems worth $760,314,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CDNS. HBW Advisory Services LLC increased its position in shares of Cadence Design Systems by 22.5% during the 4th quarter. HBW Advisory Services LLC now owns 2,203 shares of the software maker’s stock worth $662,000 after purchasing an additional 404 shares during the last quarter. Graypoint LLC increased its holdings in Cadence Design Systems by 7.9% during the fourth quarter. Graypoint LLC now owns 2,090 shares of the software maker’s stock worth $628,000 after buying an additional 153 shares during the last quarter. Czech National Bank raised its position in Cadence Design Systems by 6.6% during the fourth quarter. Czech National Bank now owns 59,466 shares of the software maker’s stock worth $17,867,000 after acquiring an additional 3,686 shares in the last quarter. Paragon Advisors LLC lifted its stake in Cadence Design Systems by 5.3% in the fourth quarter. Paragon Advisors LLC now owns 6,810 shares of the software maker’s stock valued at $2,046,000 after acquiring an additional 345 shares during the last quarter. Finally, Brookstone Capital Management grew its position in shares of Cadence Design Systems by 36.1% in the 4th quarter. Brookstone Capital Management now owns 14,532 shares of the software maker’s stock valued at $4,366,000 after acquiring an additional 3,858 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 10,737 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $310.00, for a total transaction of $3,328,470.00. Following the completion of the sale, the chief executive officer now directly owns 209,548 shares in the company, valued at $64,959,880. This represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $275.00, for a total value of $49,500.00. Following the completion of the transaction, the director now owns 7,411 shares in the company, valued at approximately $2,038,025. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,577 shares of company stock worth $5,316,411 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Cadence Design Systems Stock Down 0.7 %

NASDAQ CDNS opened at $305.78 on Friday. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The company has a market cap of $83.49 billion, a price-to-earnings ratio of 79.22, a PEG ratio of 3.88 and a beta of 1.04. The company has a 50 day moving average of $264.34 and a 200-day moving average of $284.76. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.07. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CDNS has been the topic of a number of research analyst reports. Redburn Atlantic began coverage on shares of Cadence Design Systems in a report on Monday, January 13th. They issued a “buy” rating and a $350.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $325.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, April 29th. Robert W. Baird lifted their target price on Cadence Design Systems from $293.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Oppenheimer dropped their price target on Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $300.00 to $325.00 in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $322.54.

Cadence Design Systems Company 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 enterprise emulation platform; and Protium, a prototyping platform for chip verification.