Thematics Asset Management Purchases 11,445 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Thematics Asset Management grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,520 shares of the software maker’s stock after acquiring an additional 11,445 shares during the quarter. Cadence Design Systems comprises 1.7% of Thematics Asset Management’s holdings, making the stock its 11th largest holding. Thematics Asset Management’s holdings in Cadence Design Systems were worth $42,693,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Missouri Trust & Investment Co bought a new stake in Cadence Design Systems during the 3rd quarter worth approximately $27,000. ORG Partners LLC grew its holdings in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after buying an additional 82 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Cadence Design Systems during the third quarter worth $28,000. Chilton Capital Management LLC lifted its stake in Cadence Design Systems by 244.0% during the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after acquiring an additional 122 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Cadence Design Systems by 30.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock worth $55,000 after acquiring an additional 47 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Performance

Shares of CDNS stock traded up $0.52 during trading on Tuesday, reaching $312.39. 1,944,440 shares of the company’s stock traded hands, compared to its average volume of 1,768,525. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The firm’s 50-day moving average is $279.36 and its 200 day moving average is $283.82. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $85.68 billion, a P/E ratio of 81.99, a PEG ratio of 4.23 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts expect that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Analyst Upgrades and Downgrades

CDNS has been the subject of several analyst reports. Mizuho started coverage on shares of Cadence Design Systems in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 target price for the company. Loop Capital assumed coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 price objective for the company. Wells Fargo & Company began coverage on Cadence Design Systems in a research note on Friday. They issued an “overweight” rating and a $350.00 target price on the stock. Needham & Company LLC decreased their price target on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Robert W. Baird boosted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.00.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $266.89, for a total value of $173,478.50. Following the completion of the sale, the vice president now owns 64,544 shares of the company’s stock, valued at approximately $17,226,148.16. This represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $413,970.00. Following the completion of the sale, the director now directly owns 43,551 shares of the company’s stock, valued at $12,019,204.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,634 shares of company stock valued at $4,217,635 in the last 90 days. Corporate insiders own 1.99% 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 enterprise emulation platform; and Protium, a prototyping platform for chip verification.