APG Asset Management N.V. Has $176.34 Million Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

APG Asset Management N.V. increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 229.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 607,749 shares of the software maker's stock after purchasing an additional 423,387 shares during the period. APG Asset Management N.V. owned 0.22% of Cadence Design Systems worth $176,344,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Cadence Design Systems in the fourth quarter valued at about $28,000. Avalon Trust Co bought a new stake in shares of Cadence Design Systems during the fourth quarter worth approximately $39,000. Versant Capital Management Inc lifted its holdings in Cadence Design Systems by 164.2% in the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock valued at $42,000 after buying an additional 87 shares during the period. Prestige Wealth Management Group LLC boosted its stake in Cadence Design Systems by 56.6% in the third quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker's stock valued at $45,000 after acquiring an additional 60 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Cadence Design Systems during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $252.73, for a total transaction of $164,274.50. Following the completion of the transaction, the vice president now directly owns 58,123 shares of the company's stock, valued at approximately $14,689,425.79. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,950 shares of company stock worth $518,499 in the last three months. Insiders own 1.99% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler increased their target price on Cadence Design Systems from $318.00 to $328.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Rosenblatt Securities upped their target price on shares of Cadence Design Systems from $280.00 to $295.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Loop Capital reduced their price target on shares of Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird lowered their price objective on shares of Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Finally, StockNews.com cut Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $324.83.

Cadence Design Systems Stock Up 2.1 %

Cadence Design Systems stock traded up $5.45 during midday trading on Friday, reaching $259.47. The stock had a trading volume of 1,647,475 shares, compared to its average volume of 1,945,361. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $328.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The firm's fifty day simple moving average is $261.43 and its 200-day simple moving average is $282.45. The stock has a market capitalization of $71.18 billion, a P/E ratio of 67.22, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14.

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

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.