Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,610 shares of the software maker's stock after purchasing an additional 10,371 shares during the period. Natixis Advisors LLC owned approximately 0.07% of Cadence Design Systems worth $49,222,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CDNS. First Long Island Investors LLC purchased a new stake in shares of Cadence Design Systems during the 3rd quarter worth approximately $4,162,000. Empowered Funds LLC increased its position in Cadence Design Systems by 13.3% during the third quarter. Empowered Funds LLC now owns 12,974 shares of the software maker's stock valued at $3,516,000 after acquiring an additional 1,526 shares during the last quarter. Empirical Finance LLC lifted its stake in Cadence Design Systems by 2.2% in the third quarter. Empirical Finance LLC now owns 9,313 shares of the software maker's stock worth $2,524,000 after purchasing an additional 199 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Cadence Design Systems by 0.8% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 8,044 shares of the software maker's stock valued at $2,180,000 after buying an additional 67 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Cadence Design Systems by 6.4% in the third quarter. CIBC Asset Management Inc now owns 84,910 shares of the software maker's stock worth $23,013,000 after buying an additional 5,113 shares during the period. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CDNS shares. Oppenheimer initiated coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They issued an "underperform" rating and a $225.00 price objective on the stock. Rosenblatt Securities reiterated a "neutral" rating and set a $280.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 29th. Mizuho began coverage on shares of Cadence Design Systems in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $325.00 target price on the stock. Robert W. Baird increased their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, Berenberg Bank began coverage on Cadence Design Systems in a report on Tuesday, October 15th. They issued a "buy" rating and a $320.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $326.00.

Cadence Design Systems Stock Up 1.6 %

CDNS traded up $4.62 during trading on Monday, hitting $294.33. The stock had a trading volume of 1,774,956 shares, compared to its average volume of 1,774,879. The stock has a 50 day simple moving average of $274.49 and a two-hundred day simple moving average of $282.88. 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 twelve month low of $241.29 and a twelve month high of $328.99. The company has a market capitalization of $80.72 billion, a PE ratio of 76.04, a PEG ratio of 3.93 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company's revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. On average, research analysts predict that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Insider Activity

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the sale, the chief financial officer now directly owns 38,654 shares of the company's stock, valued at approximately $10,278,485.14. This trade represents a 20.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Karna Nisewaner sold 659 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $181,870.82. Following the completion of the sale, the senior vice president now directly owns 16,029 shares of the company's stock, valued at approximately $4,423,683.42. The trade was a 3.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,634 shares of company stock valued at $4,217,635 in the last quarter. 1.99% of the stock is currently owned by company insiders.

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.