Sheaff Brock Investment Advisors LLC cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,136 shares of the software maker’s stock after selling 1,849 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Cadence Design Systems were worth $1,071,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CDNS. Creative Planning grew its stake in shares of Cadence Design Systems by 242.2% during the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after acquiring an additional 2,323 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of Cadence Design Systems by 36.6% during the second quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock valued at $161,000 after acquiring an additional 1,300 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Cadence Design Systems by 151.4% during the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock valued at $165,000 after acquiring an additional 2,505 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Cadence Design Systems during the third quarter valued at about $170,000. Finally, Parkwood LLC acquired a new stake in shares of Cadence Design Systems during the third quarter valued at about $201,000. Institutional investors own 84.72% of the company’s stock.

Cadence Design Systems, Inc. (CDNS) opened at $43.72 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.79. Cadence Design Systems, Inc. has a 12-month low of $24.15 and a 12-month high of $45.64. The company has a market cap of $12,340.00, a PE ratio of 47.01, a PEG ratio of 3.45 and a beta of 0.93.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The business had revenue of $485.40 million for the quarter, compared to analysts’ expectations of $481.10 million. During the same quarter last year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. research analysts forecast that Cadence Design Systems, Inc. will post 1.06 EPS for the current fiscal year.

In other Cadence Design Systems news, CFO John M. Wall sold 750 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $40.68, for a total value of $30,510.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Aneel Zaman sold 32,255 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.32, for a total transaction of $1,429,541.60. Following the completion of the transaction, the vice president now directly owns 217,497 shares in the company, valued at approximately $9,639,467.04. The disclosure for this sale can be found here. Insiders sold 195,224 shares of company stock worth $8,382,992 in the last three months. 2.55% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on CDNS shares. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. DA Davidson increased their price target on shares of Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Royal Bank Of Canada increased their price target on shares of Cadence Design Systems from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 11th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Cadence Design Systems in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.60.

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Cadence Design Systems Company 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).

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

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