Lazard Freres Gestion S.A.S. Has $3.77 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Lazard Freres Gestion S.A.S. grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 157.4% in the third quarter, HoldingsChannel reports. The fund owned 13,900 shares of the software maker’s stock after acquiring an additional 8,500 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Cadence Design Systems were worth $3,767,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital Market Strategies LLC increased its stake in Cadence Design Systems by 3.1% in the 2nd quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock valued at $400,000 after buying an additional 39 shares during the last quarter. Dudley Capital Management LLC increased its position in shares of Cadence Design Systems by 4.3% in the third quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock valued at $257,000 after acquiring an additional 39 shares during the last quarter. Trust Point Inc. boosted its position in Cadence Design Systems by 2.9% during the third quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after purchasing an additional 40 shares during the last quarter. Falcon Wealth Planning grew its stake in Cadence Design Systems by 5.1% in the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock valued at $222,000 after purchasing an additional 40 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Cadence Design Systems by 0.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock worth $1,501,000 after purchasing an additional 40 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded up $0.52 during midday trading on Tuesday, hitting $312.39. The company’s stock had a trading volume of 1,944,440 shares, compared to its average volume of 1,768,525. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The company has a market cap of $85.68 billion, a price-to-earnings ratio of 81.99, a PEG ratio of 4.23 and a beta of 1.02. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The company has a 50-day moving average price of $279.36 and a two-hundred day moving average price of $283.82.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CDNS shares. Berenberg Bank assumed coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price on the stock. Needham & Company LLC lowered their price objective on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company assumed coverage on shares of Cadence Design Systems in a research note on Friday. They issued an “overweight” rating and a $350.00 target price for the company. Mizuho started coverage on Cadence Design Systems in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $325.00 target price for the company. Finally, Loop Capital assumed coverage on Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 price target for the company. 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.00.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the sale, the chief financial officer now owns 38,654 shares of the company’s stock, valued at approximately $10,278,485.14. This trade represents a 20.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Friday, November 1st. The shares were sold at an average price of $276.00, for a total value of $179,400.00. Following the completion of the transaction, the vice president now owns 61,111 shares in the company, valued at approximately $16,866,636. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,634 shares of company stock valued at $4,217,635. 1.99% of the stock is owned by corporate insiders.

About Cadence Design Systems

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.