Public Employees Retirement Association of Colorado decreased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,582 shares of the software maker’s stock after selling 766 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cadence Design Systems were worth $2,029,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Cadence Design Systems by 16.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,386,242 shares of the software maker’s stock valued at $46,425,000 after buying an additional 192,745 shares during the last quarter. ING Groep NV bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $1,139,000. Russell Investments Group Ltd. raised its stake in shares of Cadence Design Systems by 33.6% in the second quarter. Russell Investments Group Ltd. now owns 1,161,296 shares of the software maker’s stock valued at $38,893,000 after buying an additional 292,239 shares during the last quarter. Greenleaf Trust bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $304,000. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Cadence Design Systems by 30.8% in the second quarter. First Citizens Bank & Trust Co. now owns 15,574 shares of the software maker’s stock valued at $522,000 after buying an additional 3,670 shares during the last quarter. Institutional investors own 86.47% of the company’s stock.

Cadence Design Systems, Inc. (CDNS) opened at 36.19 on Friday. The firm has a market cap of $10.14 billion, a P/E ratio of 42.08 and a beta of 0.94. The stock’s 50 day moving average price is $35.11 and its 200 day moving average price is $32.58. Cadence Design Systems, Inc. has a 1-year low of $24.03 and a 1-year high of $37.51.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The business had revenue of $479 million during the quarter, compared to analysts’ expectations of $476.21 million. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

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Several brokerages have commented on CDNS. BidaskClub upgraded shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Bank of America Corporation lifted their price target on Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada lifted their price target on Cadence Design Systems from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 25th. Finally, DA Davidson downgraded Cadence Design Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Cadence Design Systems presently has a consensus rating of “Hold” and an average price target of $33.67.

In related news, CEO Lip Bu Tan sold 100,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $34.04, for a total transaction of $3,404,000.00. Following the completion of the transaction, the chief executive officer now owns 583,332 shares of the company’s stock, valued at $19,856,621.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Aneel Zaman sold 29,406 shares of the firm’s 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 transaction, the insider now directly owns 247,495 shares of the company’s stock, valued at approximately $8,073,286.90. The disclosure for this sale can be found here. Insiders have sold 434,656 shares of company stock valued at $14,786,334 in the last ninety days. Company insiders own 2.55% of the company’s stock.

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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