Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,913 shares of the software maker’s stock after selling 14,076 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cadence Design Systems were worth $2,759,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its holdings in Cadence Design Systems by 6.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 290,847 shares of the software maker’s stock valued at $10,977,000 after acquiring an additional 17,341 shares during the period. Sigma Planning Corp increased its holdings in shares of Cadence Design Systems by 17.1% in the third quarter. Sigma Planning Corp now owns 66,369 shares of the software maker’s stock worth $2,620,000 after purchasing an additional 9,695 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Cadence Design Systems by 31.9% in the third quarter. Teacher Retirement System of Texas now owns 49,926 shares of the software maker’s stock worth $1,971,000 after purchasing an additional 12,064 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Cadence Design Systems by 151.4% in the third quarter. Advisor Group Inc. now owns 4,160 shares of the software maker’s stock worth $165,000 after purchasing an additional 2,505 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Cadence Design Systems by 3,002.5% in the third quarter. Toronto Dominion Bank now owns 106,262 shares of the software maker’s stock worth $4,193,000 after purchasing an additional 102,837 shares during the last quarter. 83.48% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, November 1st. DA Davidson lifted their target price on Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a 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 report on Sunday, October 29th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $46.00 target price on shares of Cadence Design Systems in a report on Friday, October 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Cadence Design Systems has a consensus rating of “Buy” and an average target price of $40.60.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at $44.85 on Tuesday. The stock has a market capitalization of $12,690.00, a PE ratio of 47.94, a PEG ratio of 3.52 and a beta of 0.94. Cadence Design Systems, Inc. has a twelve month low of $24.15 and a twelve month high of $45.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72.

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

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In related news, VP James J. Cowie sold 5,036 shares of Cadence Design Systems stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $37.21, for a total value of $187,389.56. Following the completion of the transaction, the vice president now owns 82,082 shares in the company, valued at $3,054,271.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Aneel Zaman sold 32,255 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.32, for a total value of $1,429,541.60. Following the transaction, the vice president now owns 217,497 shares of the company’s stock, valued at approximately $9,639,467.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,260 shares of company stock valued at $9,133,632. 2.55% of the stock is currently owned by company insiders.

Cadence Design Systems 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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