Generali Asset Management SPA SGR Makes New $5.92 Million Investment in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Generali Asset Management SPA SGR acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,696 shares of the software maker's stock, valued at approximately $5,918,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB increased its stake in shares of Cadence Design Systems by 15.1% in the third quarter. Swedbank AB now owns 1,753,814 shares of the software maker's stock worth $475,336,000 after buying an additional 230,672 shares during the period. Principal Financial Group Inc. raised its stake in shares of 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 valued at $547,886,000 after acquiring an additional 501,833 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Cadence Design Systems by 63.5% in the third quarter. OneDigital Investment Advisors LLC now owns 3,477 shares of the software maker's stock worth $942,000 after purchasing an additional 1,350 shares during the last quarter. Empowered Funds LLC increased its holdings in Cadence Design Systems by 13.3% during the 3rd quarter. Empowered Funds LLC now owns 12,974 shares of the software maker's stock valued at $3,516,000 after purchasing an additional 1,526 shares during the period. Finally, Quest Partners LLC raised its position in Cadence Design Systems by 47.7% during the 3rd quarter. Quest Partners LLC now owns 3,242 shares of the software maker's stock valued at $879,000 after purchasing an additional 1,047 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

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Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 93,151 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $252.73, for a total transaction of $164,274.50. Following the sale, the vice president now directly owns 58,123 shares in the company, valued at approximately $14,689,425.79. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,021 shares of company stock worth $31,229,155. Corporate insiders own 1.99% of the company's stock.

Cadence Design Systems Stock Up 1.5 %

NASDAQ:CDNS traded up $3.92 during trading hours on Friday, reaching $262.42. 5,699,757 shares of the company traded hands, compared to its average volume of 1,808,735. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The business's 50-day moving average price is $278.01 and its two-hundred day moving average price is $283.98. Cadence Design Systems, Inc. has a 1 year low of $230.09 and a 1 year high of $328.99. The stock has a market capitalization of $71.93 billion, a P/E ratio of 67.98, a P/E/G 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 the consensus estimate of $1.82 by ($0.33). The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. Analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Oppenheimer reduced their target price on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a research note on Wednesday. Needham & Company LLC reissued a "buy" rating and set a $325.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, February 19th. Loop Capital cut their target price on shares of Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird cut their price objective on Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and a consensus target price of $324.83.

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.