Bessemer Group Inc. Has $187.22 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Bessemer Group Inc. lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 623,112 shares of the software maker's stock after acquiring an additional 123,744 shares during the quarter. Bessemer Group Inc. owned approximately 0.23% of Cadence Design Systems worth $187,221,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. APG Asset Management N.V. boosted its position in shares of Cadence Design Systems by 229.6% during the 4th quarter. APG Asset Management N.V. now owns 607,749 shares of the software maker's stock valued at $176,344,000 after acquiring an additional 423,387 shares during the last quarter. Rathbones Group PLC lifted its position in shares of Cadence Design Systems by 21.3% during the fourth quarter. Rathbones Group PLC now owns 468,189 shares of the software maker's stock worth $140,672,000 after purchasing an additional 82,065 shares during the last quarter. Twin Capital Management Inc. grew its stake in Cadence Design Systems by 3.4% in the 4th quarter. Twin Capital Management Inc. now owns 7,453 shares of the software maker's stock worth $2,239,000 after acquiring an additional 243 shares in the last quarter. Cerity Partners LLC increased its holdings in Cadence Design Systems by 10.3% during the 4th quarter. Cerity Partners LLC now owns 16,798 shares of the software maker's stock worth $4,815,000 after purchasing an additional 1,573 shares during the period. Finally, FMR LLC raised its holdings in shares of Cadence Design Systems by 8.7% in the fourth quarter. FMR LLC now owns 7,978,652 shares of the software maker's stock valued at $2,397,266,000 after acquiring an additional 639,146 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

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Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total value of $164,274.50. Following the transaction, the vice president now owns 58,123 shares in the company, valued at approximately $14,689,425.79. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,950 shares of company stock valued at $518,499 in the last quarter. Insiders own 1.99% of the company's stock.

Cadence Design Systems Trading Up 0.4 %

Shares of NASDAQ CDNS traded up $1.14 during midday trading on Monday, hitting $260.61. The stock had a trading volume of 477,957 shares, compared to its average volume of 1,942,916. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $71.49 billion, a price-to-earnings ratio of 67.52, a PEG ratio of 3.88 and a beta of 1.14. The company has a fifty day moving average price of $261.43 and a 200 day moving average price of $282.51. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $328.99.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on CDNS shares. Oppenheimer lowered their price target on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a report on Wednesday, March 19th. Bank of America lowered their target price on Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Loop Capital decreased their target price on 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $325.00 price target on shares of Cadence Design Systems in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities increased their price target on Cadence Design Systems from $280.00 to $295.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $324.83.

Cadence Design Systems 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.