Great West Life Assurance Co. Can raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 53.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 429,600 shares of the software maker’s stock after buying an additional 149,880 shares during the period. Great West Life Assurance Co. Can owned about 0.15% of Cadence Design Systems worth $14,382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNS. Creative Planning increased its position in Cadence Design Systems by 242.2% in the second quarter. Creative Planning now owns 3,282 shares of the software maker’s stock worth $110,000 after buying an additional 2,323 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Cadence Design Systems by 0.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker’s stock worth $200,000 after buying an additional 31 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Cadence Design Systems during the first quarter worth about $205,000. Janney Capital Management LLC acquired a new position in Cadence Design Systems during the first quarter worth about $225,000. Finally, Atria Investments LLC acquired a new position in Cadence Design Systems during the second quarter worth about $231,000. Institutional investors own 86.47% of the company’s stock.

Cadence Design Systems, Inc. (CDNS) opened at 36.63 on Tuesday. The firm has a 50 day moving average of $34.68 and a 200-day moving average of $32.19. The firm has a market cap of $10.26 billion, a P/E ratio of 42.59 and a beta of 0.94. Cadence Design Systems, Inc. has a 12 month low of $23.88 and a 12 month high of $37.51.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 million for the quarter, compared to the consensus estimate of $476.21 million. During the same period last year, the firm posted $0.29 EPS. Cadence Design Systems’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current year.

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A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, April 27th. Royal Bank Of Canada restated a “buy” rating on shares of Cadence Design Systems in a research report on Friday, July 7th. DA Davidson downgraded shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. BidaskClub downgraded shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation boosted their target price on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $33.67.

In other news, insider Aneel Zaman sold 29,406 shares of Cadence Design Systems stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $32.62, for a total value of $959,223.72. Following the sale, the insider now owns 247,495 shares of the company’s stock, valued at $8,073,286.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James J. Cowie sold 44,000 shares of Cadence Design Systems stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $33.09, for a total transaction of $1,455,960.00. Following the completion of the sale, the vice president now directly owns 137,332 shares in the company, valued at approximately $4,544,315.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 434,656 shares of company stock worth $14,786,334. Insiders own 2.55% of the company’s stock.

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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