TD Asset Management Inc Has $129.53 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

TD Asset Management Inc trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 420,889 shares of the software maker’s stock after selling 57,800 shares during the quarter. TD Asset Management Inc owned approximately 0.15% of Cadence Design Systems worth $129,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ulland Investment Advisors LLC bought a new position in Cadence Design Systems in the first quarter valued at approximately $25,000. RiverPark Advisors LLC bought a new stake in Cadence Design Systems in the first quarter valued at $26,000. ORG Partners LLC increased its position in shares of 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 acquiring an additional 82 shares in the last quarter. Annapolis Financial Services LLC bought a new stake in Cadence Design Systems in the 1st quarter worth about $32,000. Finally, Union Savings Bank bought a new stake in Cadence Design Systems in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity

In related news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $295.00, for a total transaction of $191,750.00. Following the transaction, the vice president now owns 66,494 shares of the company’s stock, valued at $19,615,730. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $295.00, for a total value of $191,750.00. Following the sale, the vice president now owns 66,494 shares in the company, valued at approximately $19,615,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $307.75, for a total value of $184,650.00. Following the completion of the transaction, the senior vice president now directly owns 19,280 shares of the company’s stock, valued at $5,933,420. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,263 shares of company stock worth $10,892,906. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Down 1.3 %

NASDAQ CDNS opened at $250.85 on Friday. Cadence Design Systems, Inc. has a one year low of $227.05 and a one year high of $328.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. The firm’s fifty day moving average is $280.32 and its two-hundred day moving average is $293.20. The firm has a market cap of $68.34 billion, a PE ratio of 65.33, a P/E/G ratio of 3.24 and a beta of 1.03.

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

Analyst Ratings Changes

A number of research firms recently weighed in on CDNS. Bank of America upped their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Robert W. Baird dropped their price target on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. KeyCorp lifted their price target on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $334.56.

Cadence Design Systems Company 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.