BLB&B Advisors LLC Raises Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

BLB&B Advisors LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,422 shares of the software maker's stock after buying an additional 1,113 shares during the period. BLB&B Advisors LLC's holdings in Cadence Design Systems were worth $15,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Cadence Design Systems by 0.5% in the third quarter. State Street Corp now owns 11,922,747 shares of the software maker's stock worth $3,231,422,000 after buying an additional 60,490 shares during the period. Jennison Associates LLC increased its holdings in Cadence Design Systems by 5.3% during the fourth quarter. Jennison Associates LLC now owns 8,010,251 shares of the software maker's stock valued at $2,406,760,000 after buying an additional 404,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cadence Design Systems by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,988,851 shares of the software maker's stock worth $1,081,098,000 after buying an additional 37,452 shares in the last quarter. Nordea Investment Management AB boosted its position in Cadence Design Systems by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 2,933,392 shares of the software maker's stock valued at $885,356,000 after acquiring an additional 178,212 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Cadence Design Systems by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker's stock valued at $689,472,000 after acquiring an additional 572,251 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the transaction, the vice president now owns 60,461 shares of the company's stock, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Paul Scannell sold 3,171 shares of Cadence Design Systems stock in a transaction on Friday, December 13th. The stock was sold at an average price of $305.78, for a total value of $969,628.38. Following the transaction, the vice president now owns 14,318 shares in the company, valued at approximately $4,378,158.04. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,416 shares of company stock valued at $33,538,875 in the last 90 days. 1.99% of the stock is owned by insiders.

Cadence Design Systems Price Performance

Shares of CDNS stock traded down $1.76 on Tuesday, reaching $303.87. 937,060 shares of the company were exchanged, compared to its average volume of 1,479,904. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The company has a market cap of $83.34 billion, a price-to-earnings ratio of 79.76, a P/E/G ratio of 3.50 and a beta of 1.03. The business has a 50-day moving average price of $304.50 and a 200 day moving average price of $285.50.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CDNS shares. StockNews.com downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Rosenblatt Securities reiterated a "neutral" rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They issued a "buy" rating and a $350.00 target price for the company. Needham & Company LLC decreased their price objective on Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. Finally, Wells Fargo & Company initiated coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an "overweight" rating and a $350.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and an average target price of $329.50.

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.