Engineers Gate Manager LP acquired a new stake in Cadence Design Systems Inc (NASDAQ:CDNS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 24,317 shares of the software maker’s stock, valued at approximately $1,017,000.

A number of other large investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in Cadence Design Systems by 6.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,130 shares of the software maker’s stock valued at $338,000 after purchasing an additional 612 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in Cadence Design Systems by 7.1% in the 3rd quarter. First Republic Investment Management Inc. now owns 22,584 shares of the software maker’s stock valued at $892,000 after purchasing an additional 1,491 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Cadence Design Systems by 5.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,934 shares of the software maker’s stock valued at $1,458,000 after purchasing an additional 1,811 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Cadence Design Systems by 53.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 6,387 shares of the software maker’s stock valued at $253,000 after purchasing an additional 2,213 shares during the last quarter. Finally, Strs Ohio lifted its stake in Cadence Design Systems by 12.9% in the 4th quarter. Strs Ohio now owns 19,464 shares of the software maker’s stock valued at $813,000 after purchasing an additional 2,224 shares during the last quarter. 85.00% of the stock is owned by institutional investors and hedge funds.

In other news, CFO John M. Wall sold 750 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $43.83, for a total transaction of $32,872.50. Following the completion of the sale, the chief financial officer now directly owns 110,823 shares in the company, valued at $4,857,372.09. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Aneel Zaman sold 32,255 shares of the stock in a transaction 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 of the company’s stock, valued at $9,639,467.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 289,031 shares of company stock valued at $12,747,759. Corporate insiders own 2.55% of the company’s stock.

Cadence Design Systems Inc (CDNS) opened at $37.68 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.47. Cadence Design Systems Inc has a 12-month low of $29.29 and a 12-month high of $46.00. The stock has a market cap of $10,639.32, a P/E ratio of 34.89, a price-to-earnings-growth ratio of 3.68 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.39 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The firm had revenue of $501.70 million during the quarter, compared to analysts’ expectations of $496.20 million. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue was up 7.0% on a year-over-year basis. equities research analysts predict that Cadence Design Systems Inc will post 0.85 earnings per share for the current year.

Several equities analysts recently commented on CDNS shares. KeyCorp reissued a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. BidaskClub cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. Royal Bank of Canada restated a “buy” rating and issued a $46.00 price target on shares of Cadence Design Systems in a research report on Friday, October 27th. Zacks Investment Research cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, DA Davidson upped their price target on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $44.20.

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

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