Veritable L.P. held its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,635 shares of the software maker’s stock at the close of the second quarter. Veritable L.P.’s holdings in Cadence Design Systems were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. OxFORD Asset Management LLP increased its position in Cadence Design Systems by 144.2% in the 2nd quarter. OxFORD Asset Management LLP now owns 198,079 shares of the software maker’s stock valued at $6,634,000 after acquiring an additional 116,953 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cadence Design Systems by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,043,944 shares of the software maker’s stock valued at $34,962,000 after purchasing an additional 10,637 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Cadence Design Systems by 8.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 691,794 shares of the software maker’s stock valued at $23,168,000 after purchasing an additional 54,673 shares during the last quarter. Globeflex Capital L P boosted its stake in shares of Cadence Design Systems by 5.9% in the 2nd quarter. Globeflex Capital L P now owns 74,100 shares of the software maker’s stock valued at $2,482,000 after purchasing an additional 4,150 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Cadence Design Systems in the 2nd quarter valued at $490,000. Hedge funds and other institutional investors own 84.27% of the company’s stock.

In related news, insider Thomas P. Beckley sold 56,250 shares of Cadence Design Systems stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $35.00, for a total value of $1,968,750.00. Following the transaction, the insider now directly owns 322,734 shares of the company’s stock, valued at $11,295,690. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock in a transaction on Monday, July 17th. The stock was sold at an average price of $34.68, for a total transaction of $3,468,000.00. Following the completion of the transaction, the chief executive officer now directly owns 583,332 shares in the company, valued at $20,229,953.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 316,286 shares of company stock worth $11,395,640. 2.55% of the stock is owned by insiders.

A number of equities research analysts have recently commented on CDNS shares. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Cadence Design Systems in a research note on Friday, July 7th. BidaskClub lowered shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, July 27th. Bank of America Corporation upped their price objective on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday, August 31st. 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 issued a strong buy rating to the company. Cadence Design Systems presently has an average rating of “Buy” and an average price target of $33.67.

Shares of Cadence Design Systems, Inc. (NASDAQ CDNS) opened at 40.39 on Friday. Cadence Design Systems, Inc. has a 1-year low of $24.15 and a 1-year high of $40.44. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 46.97 and a beta of 0.93. The stock has a 50 day moving average of $38.34 and a 200-day moving average of $34.96.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 24th. The software maker reported $0.34 EPS for the quarter, topping the consensus estimate 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 $479.00 million for the quarter, compared to the consensus estimate of $476.21 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts forecast that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current year.

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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).

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

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