Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Bought by Fiera Capital Corp

Fiera Capital Corp raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 9.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,521 shares of the software maker's stock after acquiring an additional 2,262 shares during the period. Fiera Capital Corp's holdings in Cadence Design Systems were worth $7,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CDNS. Swedbank AB purchased a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $439,988,000. Principal Financial Group Inc. increased its position in shares of Cadence Design Systems by 280.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,519,661 shares of the software maker's stock valued at $467,676,000 after purchasing an additional 1,119,824 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Cadence Design Systems by 26.1% during 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 purchasing an additional 572,251 shares during the last quarter. Meridiem Investment Management Ltd. purchased a new stake in shares of Cadence Design Systems during the 3rd quarter valued at about $129,285,000. Finally, 1832 Asset Management L.P. increased its position in shares of Cadence Design Systems by 111.5% during the 1st quarter. 1832 Asset Management L.P. now owns 856,410 shares of the software maker's stock valued at $266,583,000 after purchasing an additional 451,530 shares during the last quarter. Institutional investors own 84.85% of the company's stock.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $276.00, for a total value of $179,400.00. Following the transaction, the vice president now owns 61,111 shares of the company's stock, valued at $16,866,636. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $276.00, for a total transaction of $179,400.00. Following the transaction, the vice president now directly owns 61,111 shares in the company, valued at $16,866,636. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Wall sold 10,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the transaction, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,734,616 in the last 90 days. Company insiders own 1.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDNS shares. Needham & Company LLC reduced their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Rosenblatt Securities reissued a "neutral" rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a "buy" rating and a $320.00 target price for the company. Mizuho initiated coverage on shares of Cadence Design Systems in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $325.00 target price for the company. Finally, Piper Sandler raised shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and set a $318.00 target price for the company in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Cadence Design Systems has a consensus rating of "Moderate Buy" and an average price target of $323.17.

Cadence Design Systems Price Performance

Cadence Design Systems stock traded down $0.47 during mid-day trading on Friday, reaching $301.25. 1,242,846 shares of the company's stock traded hands, compared to its average volume of 2,526,059. The company has a market cap of $82.62 billion, a price-to-earnings ratio of 79.07, a PEG ratio of 3.63 and a beta of 1.02. The stock has a 50 day moving average of $270.09 and a two-hundred day moving average of $282.10. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99.

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

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.