National Pension Service Has $190.52 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

National Pension Service boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 702,933 shares of the software maker’s stock after acquiring an additional 63,776 shares during the quarter. National Pension Service’s holdings in Cadence Design Systems were worth $190,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Norden Group LLC boosted its stake in shares of Cadence Design Systems by 25.0% in the first quarter. Norden Group LLC now owns 945 shares of the software maker’s stock valued at $294,000 after buying an additional 189 shares during the period. Private Advisor Group LLC boosted its stake in shares of Cadence Design Systems by 1.1% in the first quarter. Private Advisor Group LLC now owns 5,532 shares of the software maker’s stock valued at $1,722,000 after buying an additional 58 shares during the period. RiverPark Advisors LLC bought a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $300,000. Finally, Callan Capital LLC bought a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $250,000. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of several recent research reports. Mizuho initiated coverage on Cadence Design Systems in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price target for the company. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Oppenheimer initiated coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective for the company. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. Finally, Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $323.17.

Cadence Design Systems Price Performance

Shares of CDNS opened at $289.34 on Tuesday. The business has a 50-day moving average of $267.60 and a 200-day moving average of $281.67. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The company has a market capitalization of $79.36 billion, a price-to-earnings ratio of 75.94, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm earned $1.01 earnings per share. Cadence Design Systems’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $276.24, for a total value of $414,360.00. Following the transaction, the director now directly owns 45,051 shares of the company’s stock, valued at approximately $12,444,888.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Karna Nisewaner sold 1,213 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $279.49, for a total transaction of $339,021.37. Following the transaction, the senior vice president now directly owns 17,617 shares of the company’s stock, valued at approximately $4,923,775.33. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.24, for a total value of $414,360.00. Following the sale, the director now owns 45,051 shares of the company’s stock, valued at approximately $12,444,888.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,697 shares of company stock worth $7,555,216 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

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.