Ossiam Has $60.71 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Ossiam boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,065 shares of the software maker's stock after purchasing an additional 71,235 shares during the quarter. Cadence Design Systems comprises approximately 2.0% of Ossiam's investment portfolio, making the stock its 20th biggest position. Ossiam owned about 0.07% of Cadence Design Systems worth $60,712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CDNS. Principal Financial Group Inc. boosted its stake in Cadence Design Systems by 33.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker's stock valued at $547,886,000 after purchasing an additional 501,833 shares during the period. M&T Bank Corp lifted its holdings in shares of Cadence Design Systems by 78.5% during the third quarter. M&T Bank Corp now owns 35,218 shares of the software maker's stock worth $9,546,000 after buying an additional 15,491 shares in the last quarter. Advisory Resource Group boosted its position in shares of Cadence Design Systems by 20.9% in the third quarter. Advisory Resource Group now owns 3,721 shares of the software maker's stock valued at $1,009,000 after acquiring an additional 643 shares during the period. World Investment Advisors LLC grew its stake in shares of Cadence Design Systems by 656.3% in the third quarter. World Investment Advisors LLC now owns 7,457 shares of the software maker's stock valued at $2,021,000 after acquiring an additional 6,471 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new position in Cadence Design Systems during the third quarter worth about $202,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the transaction, the vice president now owns 58,773 shares in the company, valued at $17,180,523.36. This trade represents a 1.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 1,950 shares of company stock worth $518,499. 1.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of recent research reports. Oppenheimer cut their price objective on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a report on Wednesday, March 19th. Redburn Atlantic started coverage on Cadence Design Systems in a research report on Monday, January 13th. They set a "buy" rating and a $350.00 price target on the stock. Mizuho cut their target price on Cadence Design Systems from $350.00 to $300.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. StockNews.com lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Piper Sandler boosted their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Cadence Design Systems presently has an average rating of "Moderate Buy" and an average target price of $320.67.

Cadence Design Systems Price Performance

CDNS stock traded up $7.27 during trading on Wednesday, reaching $265.42. 1,707,510 shares of the company were exchanged, compared to its average volume of 1,942,381. The company has a market capitalization of $72.81 billion, a price-to-earnings ratio of 68.76, a P/E/G ratio of 3.88 and a beta of 1.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27. The company has a 50-day moving average of $255.62 and a two-hundred day moving average of $281.96. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $328.99.

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