AKO Capital LLP Acquires 25,366 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

AKO Capital LLP lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 12.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 223,944 shares of the software maker's stock after purchasing an additional 25,366 shares during the quarter. Cadence Design Systems accounts for about 0.9% of AKO Capital LLP's investment portfolio, making the stock its 23rd largest holding. AKO Capital LLP owned 0.08% of Cadence Design Systems worth $67,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Cadence Design Systems by 33.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker's stock valued at $547,886,000 after purchasing an additional 501,833 shares during the period. Cerity Partners LLC grew its holdings in shares of Cadence Design Systems by 27.9% during the third quarter. Cerity Partners LLC now owns 15,225 shares of the software maker's stock valued at $4,126,000 after buying an additional 3,320 shares in the last quarter. Larson Financial Group LLC raised its position in Cadence Design Systems by 150.0% during the third quarter. Larson Financial Group LLC now owns 500 shares of the software maker's stock valued at $136,000 after buying an additional 300 shares during the period. Private Trust Co. NA lifted its stake in Cadence Design Systems by 16.2% in the 3rd quarter. Private Trust Co. NA now owns 733 shares of the software maker's stock worth $199,000 after acquiring an additional 102 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in Cadence Design Systems by 17.1% during the 3rd quarter. D.A. Davidson & CO. now owns 1,644 shares of the software maker's stock worth $446,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

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Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of research reports. StockNews.com downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Redburn Atlantic started coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They issued a "buy" rating and a $350.00 target price for the company. Bank of America lowered their price target on shares of Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Rosenblatt Securities increased their price objective on Cadence Design Systems from $280.00 to $295.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $325.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $324.83.

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded up $3.21 during trading hours on Tuesday, reaching $257.54. 363,662 shares of the company were exchanged, compared to its average volume of 1,875,330. Cadence Design Systems, Inc. has a 12 month low of $230.09 and a 12 month high of $328.99. The firm has a market cap of $70.65 billion, a price-to-earnings ratio of 66.67, a PEG ratio of 3.88 and a beta of 1.05. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $273.52 and a 200 day moving average of $284.41.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.33). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $304.84, for a total transaction of $198,146.00. Following the transaction, the vice president now owns 59,311 shares in the company, valued at approximately $18,080,365.24. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Anirudh Devgan sold 93,151 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the sale, the chief executive officer now owns 55,874 shares of the company's stock, valued at approximately $17,320,940. The trade was a 62.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,021 shares of company stock worth $31,229,155. Company insiders own 1.99% of the company's stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks 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 logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.