Pacer Advisors Inc. raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,792 shares of the software maker’s stock after buying an additional 4,974 shares during the period. Pacer Advisors Inc.’s holdings in Cadence Design Systems were worth $1,467,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC increased its stake in shares of Cadence Design Systems by 136.4% in the first quarter. Summit Securities Group LLC now owns 62,556 shares of the software maker’s stock worth $1,964,000 after buying an additional 36,089 shares in the last quarter. Algert Global LLC increased its stake in shares of Cadence Design Systems by 68.7% in the first quarter. Algert Global LLC now owns 76,675 shares of the software maker’s stock worth $2,408,000 after buying an additional 31,224 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Cadence Design Systems by 64.0% in the first quarter. First Trust Advisors LP now owns 242,885 shares of the software maker’s stock worth $7,627,000 after buying an additional 94,776 shares in the last quarter. Capital One National Association increased its stake in shares of Cadence Design Systems by 4.1% in the first quarter. Capital One National Association now owns 93,302 shares of the software maker’s stock worth $2,930,000 after buying an additional 3,686 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. increased its stake in shares of Cadence Design Systems by 50.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 150,000 shares of the software maker’s stock worth $4,710,000 after buying an additional 50,000 shares in the last quarter. 86.08% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems, Inc. (NASDAQ CDNS) opened at 37.40 on Friday. Cadence Design Systems, Inc. has a 52 week low of $24.15 and a 52 week high of $37.70. The firm has a market cap of $10.48 billion, a PE ratio of 43.49 and a beta of 0.94. The firm’s 50 day moving average price is $36.11 and its 200-day moving average price is $33.39.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $479 million for the quarter, compared to analysts’ expectations of $476.21 million. Cadence Design Systems had a net margin of 12.86% and a return on equity of 27.81%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. On average, analysts forecast that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://theolympiareport.com/2017/08/27/cadence-design-systems-inc-cdns-position-raised-by-pacer-advisors-inc.html.

A number of brokerages have recently commented on CDNS. BidaskClub raised Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday, July 27th. Bank of America Corporation boosted their price target on Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada boosted their price target on Cadence Design Systems from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $33.67.

In other news, CFO Geoffrey G. Ribar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $36.88, for a total transaction of $184,400.00. Following the transaction, the chief financial officer now directly owns 174,413 shares in the company, valued at approximately $6,432,351.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas P. Beckley sold 56,250 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $35.00, for a total transaction of $1,968,750.00. Following the transaction, the insider now owns 322,734 shares in the company, valued at $11,295,690. The disclosure for this sale can be found here. Insiders have sold a total of 396,250 shares of company stock worth $14,049,000 over the last 90 days. 2.55% of the stock is owned by company insiders.

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).

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS).

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

Receive News & Ratings for Cadence Design Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.