NN Investment Partners Holdings N.V. Lowers Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

NN Investment Partners Holdings N.V. lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 40.4% during the third quarter, Holdings Channel.com reports. The firm owned 50,801 shares of the software maker’s stock after selling 34,467 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Cadence Design Systems were worth $7,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Cadence Design Systems by 31.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 293,032 shares of the software maker’s stock worth $18,610,000 after acquiring an additional 69,373 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Cadence Design Systems by 12.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,655 shares of the software maker’s stock worth $7,067,000 after acquiring an additional 5,886 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Cadence Design Systems by 19.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,517 shares of the software maker’s stock worth $207,000 after acquiring an additional 252 shares in the last quarter. Atria Investments LLC boosted its stake in shares of Cadence Design Systems by 1.9% during the 2nd quarter. Atria Investments LLC now owns 15,202 shares of the software maker’s stock worth $2,080,000 after acquiring an additional 279 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Cadence Design Systems by 31.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 147,009 shares of the software maker’s stock worth $20,114,000 after acquiring an additional 35,534 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors.

Shares of CDNS opened at $161.75 on Friday. The stock has a fifty day moving average of $180.50 and a two-hundred day moving average of $163.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.70. The company has a market capitalization of $44.83 billion, a PE ratio of 65.22, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07. Cadence Design Systems, Inc. has a fifty-two week low of $118.11 and a fifty-two week high of $192.70.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Sunday, October 24th. The software maker reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The company had revenue of $750.90 million during the quarter, compared to the consensus estimate of $741.84 million. Cadence Design Systems had a return on equity of 28.98% and a net margin of 23.30%. Cadence Design Systems’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 2.6 earnings per share for the current fiscal year.

In other news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Monday, December 6th. The shares were sold at an average price of $177.87, for a total transaction of $177,870.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anirudh Devgan sold 25,000 shares of the business’s stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $179.00, for a total transaction of $4,475,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 119,177 shares of company stock valued at $21,300,265 over the last three months. Corporate insiders own 2.31% of the company’s stock.

Several equities research analysts have recently commented on CDNS shares. Rosenblatt Securities started coverage on Cadence Design Systems in a research note on Friday, September 17th. They set a “buy” rating and a $173.00 price target on the stock. UBS Group boosted their price target on Cadence Design Systems from $155.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, October 25th. JPMorgan Chase & Co. downgraded Cadence Design Systems from an “overweight” rating to a “neutral” rating and set a $185.00 price objective for the company. in a research report on Tuesday, December 14th. Needham & Company LLC lifted their price objective on Cadence Design Systems from $183.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, October 26th. Finally, KeyCorp lifted their price objective on Cadence Design Systems from $186.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $179.07.

Cadence Design Systems Profile

Cadence Design Systems, Inc engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. The company was founded by Alberto Sangiovanni-Vincentelli, Gudmundur A.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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