Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Bokf Na

Bokf Na boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,927 shares of the software maker’s stock after buying an additional 858 shares during the period. Bokf Na’s holdings in Cadence Design Systems were worth $15,981,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CDNS. Norges Bank acquired a new position in shares of Cadence Design Systems during the fourth quarter valued at $1,141,059,000. Swedbank AB acquired a new position in shares of Cadence Design Systems during the first quarter valued at $439,988,000. Principal Financial Group Inc. increased its holdings in shares of Cadence Design Systems by 280.1% during the second quarter. Principal Financial Group Inc. now owns 1,519,661 shares of the software maker’s stock valued at $467,676,000 after purchasing an additional 1,119,824 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Cadence Design Systems by 58.1% during the first quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock valued at $396,470,000 after purchasing an additional 468,195 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Cadence Design Systems by 6.9% during the first quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker’s stock valued at $2,205,582,000 after purchasing an additional 459,603 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $266.89, for a total transaction of $173,478.50. Following the completion of the sale, the vice president now directly owns 64,544 shares in the company, valued at approximately $17,226,148.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $266.89, for a total transaction of $173,478.50. Following the completion of the sale, the vice president now directly owns 64,544 shares in the company, valued at approximately $17,226,148.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Chin-Chi Teng sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $305.84, for a total value of $3,058,400.00. Following the sale, the vice president now owns 95,408 shares of the company’s stock, valued at $29,179,582.72. The disclosure for this sale can be found here. Insiders sold 37,613 shares of company stock worth $10,701,156 in the last quarter. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on CDNS shares. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, August 6th. Piper Sandler raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target on the stock in a report on Tuesday, August 6th. KeyCorp raised their price target on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Robert W. Baird lowered their target price on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $334.56.

Cadence Design Systems Trading Up 3.5 %

NASDAQ:CDNS opened at $264.72 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. Cadence Design Systems, Inc. has a 1-year low of $227.05 and a 1-year high of $328.99. The firm has a market capitalization of $72.12 billion, a price-to-earnings ratio of 68.94, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02. The stock has a fifty day simple moving average of $275.72 and a 200 day simple moving average of $292.03.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company posted $0.94 EPS. Cadence Design Systems’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current year.

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 enterprise emulation platform; and Protium, a prototyping platform for chip verification.