Public Employees Retirement System of Ohio Boosts Holdings in Cadence Design Systems Inc (CDNS)
Public Employees Retirement System of Ohio raised its position in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 35.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 173,384 shares of the software maker’s stock after acquiring an additional 45,590 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.06% of Cadence Design Systems worth $6,843,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of CDNS. Sigma Planning Corp boosted its position 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 buying an additional 9,695 shares during the period. Janus Henderson Group PLC boosted its position in shares of Cadence Design Systems by 73,454.0% in the second quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock worth $693,303,000 after buying an additional 20,673,635 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Cadence Design Systems in the second quarter worth about $2,170,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Cadence Design Systems by 134.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 204,187 shares of the software maker’s stock worth $6,838,000 after buying an additional 117,005 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Cadence Design Systems in the third quarter worth about $432,000. 84.63% of the stock is owned by hedge funds and other institutional investors.
In other Cadence Design Systems news, VP Aneel Zaman sold 32,255 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $44.32, for a total transaction of $1,429,541.60. Following the sale, the vice president now owns 217,497 shares in the company, valued at $9,639,467.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Wall sold 750 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $40.68, for a total value of $30,510.00. The disclosure for this sale can be found here. Insiders sold 330,974 shares of company stock valued at $14,264,010 in the last three months. 2.55% of the stock is currently owned by company insiders.
Several equities research analysts have recently weighed in 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 for the company in a research report on Wednesday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, November 26th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Cadence Design Systems in a research report on Thursday, August 31st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $46.00 target price on shares of Cadence Design Systems in a research report on Friday, October 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cadence Design Systems in a research report on Sunday, October 29th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $44.50.
Cadence Design Systems Inc (NASDAQ:CDNS) opened at $42.26 on Friday. The company has a market capitalization of $11,994.65, a PE ratio of 45.44, a P/E/G ratio of 3.35 and a beta of 0.93. Cadence Design Systems Inc has a 1-year low of $25.18 and a 1-year high of $45.64. The company has a quick ratio of 1.72, a current ratio of 1.79 and a debt-to-equity ratio of 0.64.
Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $485.40 million during the quarter, compared to the consensus estimate of $481.10 million. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. Cadence Design Systems’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share. equities analysts forecast that Cadence Design Systems Inc will post 1.06 EPS for the current fiscal year.
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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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