Vienna Asset Management LLC Has $8.01 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Vienna Asset Management LLC grew its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,550 shares of the software maker’s stock after purchasing an additional 2,063 shares during the period. Cadence Design Systems comprises approximately 5.9% of Vienna Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Vienna Asset Management LLC’s holdings in Cadence Design Systems were worth $8,009,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CDNS. State Street Corp grew its stake in shares of Cadence Design Systems by 0.5% during the third quarter. State Street Corp now owns 11,922,747 shares of the software maker’s stock worth $3,231,422,000 after buying an additional 60,490 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Cadence Design Systems by 2.7% during the 3rd quarter. Jennison Associates LLC now owns 7,606,175 shares of the software maker’s stock valued at $2,061,502,000 after acquiring an additional 198,230 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cadence Design Systems by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,988,851 shares of the software maker’s stock worth $1,081,098,000 after acquiring an additional 37,452 shares during the last quarter. Van ECK Associates Corp increased its holdings in Cadence Design Systems by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock worth $689,472,000 after purchasing an additional 572,251 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Cadence Design Systems by 1.8% in the second 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 last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $273.44, for a total transaction of $177,736.00. Following the transaction, the vice president now owns 61,761 shares in the company, valued at approximately $16,887,927.84. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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, September 17th. The shares were sold at an average price of $275.98, for a total transaction of $413,970.00. Following the completion of the transaction, the director now directly owns 43,551 shares in the company, valued at $12,019,204.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,634 shares of company stock worth $1,584,080. Company insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Berenberg Bank began coverage on Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target on the stock. Mizuho initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price target for the company. Wells Fargo & Company initiated coverage on shares of Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 29th. Finally, Oppenheimer assumed coverage on Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.00.

Cadence Design Systems Trading Down 6.4 %

NASDAQ CDNS opened at $303.79 on Friday. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The business has a 50 day simple moving average of $285.09 and a 200 day simple moving average of $285.10. The stock has a market capitalization of $83.32 billion, a P/E ratio of 79.73, a P/E/G ratio of 4.25 and a beta of 1.03.

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

About Cadence Design Systems

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.