Vontobel Holding Ltd. Boosts Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Vontobel Holding Ltd. raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.3% in the third quarter, Holdings Channel.com reports. The fund owned 228,597 shares of the software maker’s stock after acquiring an additional 11,568 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cadence Design Systems were worth $61,957,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CDNS. Vanguard Group Inc. lifted its holdings in Cadence Design Systems by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,940,556 shares of the software maker’s stock valued at $7,763,496,000 after purchasing an additional 437,101 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Cadence Design Systems by 6.9% in the first quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker’s stock worth $2,205,582,000 after buying an additional 459,603 shares in the last quarter. Legal & General Group Plc boosted its position in Cadence Design Systems by 1.8% during the second quarter. Legal & General Group Plc now owns 2,509,136 shares of the software maker’s stock worth $772,187,000 after acquiring an additional 43,654 shares during the last quarter. Van ECK Associates Corp boosted its position in Cadence Design Systems by 10.5% during the second quarter. Van ECK Associates Corp now owns 2,195,714 shares of the software maker’s stock worth $675,731,000 after acquiring an additional 209,301 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Cadence Design Systems by 7.7% during the 1st quarter. Nordea Investment Management AB now owns 2,040,581 shares of the software maker’s stock valued at $636,172,000 after acquiring an additional 145,351 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of research reports. Oppenheimer began coverage on shares of Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. Robert W. Baird reduced their price objective on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. KeyCorp raised their target price on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Berenberg Bank started coverage on Cadence Design Systems in a report on Tuesday. They set a “buy” rating and a $320.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $323.27.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total value of $177,736.00. Following the completion of the sale, the vice president now directly owns 61,761 shares of the company’s stock, valued at approximately $16,887,927.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.24, for a total transaction of $414,360.00. Following the sale, the director now directly owns 45,051 shares in the company, valued at $12,444,888.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total transaction of $177,736.00. Following the completion of the transaction, the vice president now owns 61,761 shares of the company’s stock, valued at approximately $16,887,927.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,847 shares of company stock worth $7,302,782 over the last ninety days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Down 1.4 %

NASDAQ CDNS traded down $3.71 during trading hours on Wednesday, reaching $265.76. The company had a trading volume of 677,321 shares, compared to its average volume of 1,699,532. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $72.40 billion, a P/E ratio of 70.17, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. The stock has a 50-day moving average of $269.69 and a 200 day moving average of $285.52. Cadence Design Systems, Inc. has a 1-year low of $228.66 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $0.94 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal 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.