National Pension Service Has $190.52 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

National Pension Service grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 702,933 shares of the software maker’s stock after purchasing an additional 63,776 shares during the period. National Pension Service owned about 0.26% of Cadence Design Systems worth $190,516,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Cadence Design Systems by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,940,556 shares of the software maker’s stock worth $7,763,496,000 after acquiring an additional 437,101 shares in the last quarter. Van ECK Associates Corp boosted its stake in Cadence Design Systems by 26.1% during the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock valued at $689,472,000 after purchasing an additional 572,251 shares during the period. Legal & General Group Plc boosted its stake in Cadence Design Systems by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 2,509,136 shares of the software maker’s stock valued at $772,187,000 after purchasing an additional 43,654 shares during the period. Swedbank AB boosted its stake in Cadence Design Systems by 15.1% during the 3rd quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock valued at $475,336,000 after purchasing an additional 230,672 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Cadence Design Systems by 280.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,519,661 shares of the software maker’s stock valued at $467,676,000 after purchasing an additional 1,119,824 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the 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 transaction, the chief financial officer now directly owns 38,654 shares in the company, valued at approximately $10,278,485.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the 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 transaction, the chief financial officer now directly owns 38,654 shares in the company, valued at approximately $10,278,485.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the transaction, the director now owns 42,051 shares in the company, valued at $11,928,186.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,697 shares of company stock worth $7,555,216. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 2.6 %

CDNS stock opened at $289.34 on Tuesday. The business has a fifty day moving average price of $267.60 and a 200 day moving average price of $281.67. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The stock has a market capitalization of $79.36 billion, a price-to-earnings ratio of 75.94, a P/E/G ratio of 3.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. Analysts expect that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CDNS shares. 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. Needham & Company LLC decreased their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Berenberg Bank began coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price for the company. Robert W. Baird raised their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Oppenheimer began coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $323.17.

Cadence Design Systems Company Profile

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.