Swiss National Bank Has $33.31 Million Position in Cadence Design Systems (CDNS)

Swiss National Bank cut its holdings in Cadence Design Systems (NASDAQ:CDNS) by 12.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 905,900 shares of the software maker’s stock after selling 125,700 shares during the period. Swiss National Bank owned 0.32% of Cadence Design Systems worth $33,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CDNS. CIBC Asset Management Inc boosted its holdings in Cadence Design Systems by 3.7% in the 1st quarter. CIBC Asset Management Inc now owns 36,781 shares of the software maker’s stock valued at $1,352,000 after purchasing an additional 1,321 shares during the period. Pitcairn Co. boosted its holdings in Cadence Design Systems by 3.1% in the 4th quarter. Pitcairn Co. now owns 47,627 shares of the software maker’s stock valued at $1,991,000 after purchasing an additional 1,445 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Cadence Design Systems by 17.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 9,708 shares of the software maker’s stock valued at $357,000 after purchasing an additional 1,458 shares during the period. QUANTRES ASSET MANAGEMENT Ltd boosted its holdings in Cadence Design Systems by 10.3% in the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 16,100 shares of the software maker’s stock valued at $592,000 after purchasing an additional 1,500 shares during the period. Finally, Standard Life Aberdeen plc boosted its holdings in Cadence Design Systems by 3.3% in the 4th quarter. Standard Life Aberdeen plc now owns 51,273 shares of the software maker’s stock valued at $2,144,000 after purchasing an additional 1,656 shares during the period. 88.34% of the stock is owned by institutional investors.

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Several research analysts have commented on the stock. DA Davidson raised shares of Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Thursday, April 26th. BidaskClub downgraded shares of Cadence Design Systems from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. JPMorgan Chase lifted their price objective on shares of Cadence Design Systems from $34.00 to $42.00 and gave the stock an “underweight” rating in a report on Tuesday, April 24th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $43.00 price objective (up from $37.00) on shares of Cadence Design Systems in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $43.71.

In other news, insider Aneel Zaman sold 43,733 shares of Cadence Design Systems stock in a transaction on Friday, April 27th. The shares were sold at an average price of $40.02, for a total transaction of $1,750,194.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 1,021 shares of Cadence Design Systems stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $39.25, for a total transaction of $40,074.25. Following the completion of the transaction, the chief financial officer now owns 127,972 shares in the company, valued at approximately $5,022,901. The disclosure for this sale can be found here. Insiders have sold a total of 126,097 shares of company stock valued at $4,976,836 over the last ninety days. 2.55% of the stock is currently owned by insiders.

Cadence Design Systems opened at $41.52 on Friday, according to Marketbeat Ratings. Cadence Design Systems has a 52-week low of $40.89 and a 52-week high of $41.13. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.30. The firm has a market cap of $11.57 billion, a PE ratio of 37.64, a P/E/G ratio of 3.59 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 23rd. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Cadence Design Systems had a net margin of 10.52% and a return on equity of 29.43%. The company had revenue of $517.00 million during the quarter, compared to the consensus estimate of $505.33 million. During the same period in the previous year, the firm posted $0.32 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. equities analysts expect that Cadence Design Systems will post 0.95 EPS for the current year.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)