Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Schroder Investment Management Group

Schroder Investment Management Group raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 53.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,064,219 shares of the software maker’s stock after buying an additional 716,041 shares during the period. Schroder Investment Management Group’s holdings in Cadence Design Systems were worth $623,105,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CDNS. Golden State Wealth Management LLC acquired a new stake in shares of Cadence Design Systems during the 4th quarter worth about $28,000. Avalon Trust Co acquired a new stake in Cadence Design Systems during the 4th quarter worth $39,000. Versant Capital Management Inc lifted its position in Cadence Design Systems by 164.2% in the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after acquiring an additional 87 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in Cadence Design Systems by 56.6% in the third quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock valued at $45,000 after acquiring an additional 60 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Cadence Design Systems during the fourth quarter worth about $46,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 2.2 %

NASDAQ CDNS opened at $256.69 on Friday. Cadence Design Systems, Inc. has a 52-week low of $230.09 and a 52-week high of $328.99. The firm has a 50-day moving average price of $274.55 and a 200 day moving average price of $284.39. The stock has a market capitalization of $70.36 billion, a P/E ratio of 66.50, a P/E/G ratio of 3.88 and a beta of 1.05. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Oppenheimer reduced their target price on Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating for the company in a report on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $325.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 19th. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Loop Capital reduced their price target on shares of Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Bank of America lowered their price objective on shares of Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $324.83.

Insiders Place Their Bets

In related news, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total value of $1,799,916.80. Following the completion of the sale, the chief executive officer now owns 55,874 shares in the company, valued at $16,987,930.96. This trade represents a 9.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $304.84, for a total transaction of $198,146.00. Following the transaction, the vice president now owns 59,311 shares in the company, valued at $18,080,365.24. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,021 shares of company stock worth $31,229,155. Corporate insiders own 1.99% of the company’s stock.

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