Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 22.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,242 shares of the software maker’s stock after selling 16,957 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cadence Design Systems were worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. raised its position in shares of Cadence Design Systems by 490.3% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 45,258 shares of the software maker’s stock worth $1,516,000 after purchasing an additional 37,591 shares during the period. First Trust Advisors LP grew its holdings in Cadence Design Systems by 89.7% in the 2nd quarter. First Trust Advisors LP now owns 460,774 shares of the software maker’s stock worth $15,431,000 after buying an additional 217,889 shares in the last quarter. Koch Industries Inc. bought a new position in Cadence Design Systems in the 1st quarter worth approximately $308,000. Oregon Public Employees Retirement Fund grew its holdings in Cadence Design Systems by 91.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 191,918 shares of the software maker’s stock worth $6,427,000 after buying an additional 91,560 shares in the last quarter. Finally, Airain ltd grew its holdings in Cadence Design Systems by 1,004.2% in the 2nd quarter. Airain ltd now owns 87,928 shares of the software maker’s stock worth $2,945,000 after buying an additional 79,965 shares in the last quarter. Institutional investors and hedge funds own 84.27% of the company’s stock.

A number of equities analysts recently issued reports on CDNS shares. Royal Bank Of Canada increased their price objective on Cadence Design Systems from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, July 25th. BidaskClub lowered Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Bank of America Corporation increased their price objective on Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Credit Suisse Group reissued an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. Finally, Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Cadence Design Systems has an average rating of “Buy” and a consensus target price of $33.67.

Cadence Design Systems, Inc. (CDNS) opened at 38.43 on Friday. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 44.69 and a beta of 0.92. Cadence Design Systems, Inc. has a one year low of $24.15 and a one year high of $39.49. The company has a 50-day moving average price of $37.04 and a 200-day moving average price of $33.91.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Cadence Design Systems had a net margin of 12.86% and a return on equity of 27.81%. The company had revenue of $479 million during the quarter, compared to analysts’ expectations of $476.21 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. Cadence Design Systems’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

In other news, CFO Geoffrey G. Ribar sold 15,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $37.55, for a total value of $563,250.00. Following the completion of the transaction, the chief financial officer now owns 184,413 shares in the company, valued at $6,924,708.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas P. Beckley sold 56,250 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $35.00, for a total transaction of $1,968,750.00. Following the completion of the transaction, the insider now owns 322,734 shares of the company’s stock, valued at approximately $11,295,690. The disclosure for this sale can be found here. Insiders sold 416,286 shares of company stock valued at $14,799,640 in the last quarter. 2.55% of the stock is currently owned by corporate insiders.

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About Cadence Design Systems

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).

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

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