2,163 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Acquired by iSAM Funds UK Ltd

iSAM Funds UK Ltd purchased a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the third quarter, Holdings Channel reports. The firm purchased 2,163 shares of the software maker’s stock, valued at approximately $586,000.

Other large investors have also added to or reduced their stakes in the company. Park National Corp OH grew its position in Cadence Design Systems by 19.8% during the second quarter. Park National Corp OH now owns 136,251 shares of the software maker’s stock worth $41,931,000 after buying an additional 22,537 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Cadence Design Systems by 48.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock valued at $258,136,000 after purchasing an additional 310,250 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $24,026,000. Teamwork Financial Advisors LLC boosted its holdings in shares of Cadence Design Systems by 19.4% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 13,131 shares of the software maker’s stock valued at $3,559,000 after purchasing an additional 2,136 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Cadence Design Systems by 5.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 228,597 shares of the software maker’s stock valued at $61,957,000 after purchasing an additional 11,568 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total value of $413,970.00. Following the completion of the transaction, the director now directly owns 43,551 shares of the company’s stock, valued at approximately $12,019,204.98. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated 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 transaction, the vice president now directly owns 61,761 shares of the company’s stock, valued at approximately $16,887,927.84. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,634 shares of company stock valued at $1,584,080 in the last three months. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Up 1.2 %

Shares of NASDAQ:CDNS opened at $307.51 on Friday. The firm has a market cap of $84.34 billion, a P/E ratio of 80.71, a P/E/G ratio of 4.41 and a beta of 1.03. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The business has a fifty day simple moving average of $285.75 and a 200 day simple moving average of $285.17.

Cadence Design Systems (NASDAQ:CDNS) last announced 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. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. Cadence Design Systems’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. Analysts predict that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CDNS. Oppenheimer began coverage on Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. Berenberg Bank began coverage on Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Wells Fargo & Company began coverage on Cadence Design Systems in a report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 target price on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. Finally, Needham & Company LLC reduced their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $326.00.

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.