Blueshift Asset Management LLC Has $226,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Blueshift Asset Management LLC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 60.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 753 shares of the software maker's stock after selling 1,149 shares during the period. Blueshift Asset Management LLC's holdings in Cadence Design Systems were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Swedbank AB lifted its position in Cadence Design Systems by 15.1% in the 3rd quarter. Swedbank AB now owns 1,753,814 shares of the software maker's stock valued at $475,336,000 after acquiring an additional 230,672 shares in the last quarter. Principal Financial Group Inc. boosted its position in Cadence Design Systems by 33.0% during the third quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker's stock worth $547,886,000 after purchasing an additional 501,833 shares during the period. Citizens Financial Group Inc. RI grew its stake in Cadence Design Systems by 3.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,463 shares of the software maker's stock valued at $1,210,000 after buying an additional 141 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Cadence Design Systems by 3.7% during the third quarter. Intech Investment Management LLC now owns 14,166 shares of the software maker's stock worth $3,839,000 after acquiring an additional 499 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of Cadence Design Systems by 5.9% in the third quarter. Raymond James Trust N.A. now owns 5,083 shares of the software maker's stock worth $1,378,000 after acquiring an additional 283 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

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Cadence Design Systems Price Performance

CDNS traded down $0.87 on Thursday, hitting $262.54. 1,349,771 shares of the company were exchanged, compared to its average volume of 1,807,734. Cadence Design Systems, Inc. has a fifty-two week low of $230.09 and a fifty-two week 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 business's fifty day moving average is $276.25 and its 200 day moving average is $284.31. The firm has a market capitalization of $71.96 billion, a P/E ratio of 68.02, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations 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, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Upgrades and Downgrades

CDNS has been the subject of several research analyst reports. StockNews.com lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Robert W. Baird lowered their target price on Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and set a $325.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 19th. Mizuho raised their target price on Cadence Design Systems from $325.00 to $350.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, Oppenheimer cut 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $324.83.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction 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 completion of the sale, the vice president now owns 58,123 shares of the company's stock, valued at approximately $14,689,425.79. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anirudh Devgan sold 93,151 shares of the company's stock in a transaction on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,021 shares of company stock worth $31,229,155 over the last ninety days. 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.