Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,065,002 shares of the software maker’s stock after acquiring an additional 116,153 shares during the period. Old Mutual Global Investors UK Ltd. owned approximately 1.09% of Cadence Design Systems worth $102,646,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CDNS. Glen Harbor Capital Management LLC lifted its holdings in shares of Cadence Design Systems by 53.2% during the 1st quarter. Glen Harbor Capital Management LLC now owns 18,810 shares of the software maker’s stock worth $591,000 after acquiring an additional 6,534 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Cadence Design Systems by 3.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 279,720 shares of the software maker’s stock valued at $8,780,000 after purchasing an additional 10,566 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in Cadence Design Systems by 23.9% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 23,456 shares of the software maker’s stock valued at $737,000 after purchasing an additional 4,532 shares during the last quarter. First Trust Advisors LP lifted its holdings in Cadence Design Systems by 64.0% during the 1st quarter. First Trust Advisors LP now owns 242,885 shares of the software maker’s stock valued at $7,627,000 after purchasing an additional 94,776 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Cadence Design Systems by 13.5% during the 1st quarter. American Century Companies Inc. now owns 204,331 shares of the software maker’s stock valued at $6,416,000 after purchasing an additional 24,291 shares during the last quarter. 84.27% of the stock is owned by institutional investors.

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In other Cadence Design Systems news, CFO Geoffrey G. Ribar sold 5,000 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $36.88, for a total transaction of $184,400.00. Following the sale, the chief financial officer now directly owns 174,413 shares in the company, valued at $6,432,351.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Geoffrey G. Ribar sold 15,000 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $37.55, for a total transaction of $563,250.00. Following the sale, the chief financial officer now owns 184,413 shares in the company, valued at $6,924,708.15. The disclosure for this sale can be found here. Insiders have sold 416,286 shares of company stock worth $14,799,640 over the last quarter. Corporate insiders own 2.55% of the company’s stock.

Several equities analysts recently issued reports on the stock. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Credit Suisse Group reissued an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. Royal Bank Of Canada reissued a “buy” rating on shares of Cadence Design Systems in a report on Friday, July 7th. Finally, Bank of America Corporation lifted their price target on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Cadence Design Systems has a consensus rating of “Buy” and an average price target of $33.67.

Shares of Cadence Design Systems, Inc. (CDNS) traded down 0.039% during trading on Wednesday, reaching $38.225. 290,833 shares of the company traded hands. Cadence Design Systems, Inc. has a 12 month low of $24.15 and a 12 month high of $39.49. The company has a 50-day moving average of $36.85 and a 200-day moving average of $33.84. The stock has a market capitalization of $10.71 billion, a PE ratio of 44.448 and a beta of 0.92.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $479 million for the quarter, compared to the consensus estimate of $476.21 million. Cadence Design Systems had a net margin of 12.86% and a return on equity of 27.81%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Analysts forecast that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current fiscal year.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

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

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