Geneva Capital Management LLC Purchases 4,384 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Geneva Capital Management LLC lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,374 shares of the software maker's stock after acquiring an additional 4,384 shares during the period. Geneva Capital Management LLC's holdings in Cadence Design Systems were worth $20,429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Cadence Design Systems by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,940,556 shares of the software maker's stock valued at $7,763,496,000 after acquiring an additional 437,101 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Cadence Design Systems by 26.1% during the third quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker's stock valued at $689,472,000 after acquiring an additional 572,251 shares in the last quarter. Legal & General Group Plc increased its position in shares of Cadence Design Systems by 1.8% during the second quarter. Legal & General Group Plc now owns 2,509,136 shares of the software maker's stock valued at $772,187,000 after acquiring an additional 43,654 shares in the last quarter. Principal Financial Group Inc. grew its position 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 worth $547,886,000 after purchasing an additional 501,833 shares during the period. Finally, Swedbank AB grew 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 worth $475,336,000 after purchasing an additional 230,672 shares during the period. Institutional investors own 84.85% of the company's stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of Cadence Design Systems stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the sale, the vice president now directly owns 95,408 shares in the company, valued at approximately $26,366,954.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Chin-Chi Teng sold 10,000 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the sale, the vice president now directly owns 95,408 shares in the company, valued at $26,366,954.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paul Cunningham sold 650 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the sale, the vice president now owns 61,111 shares in the company, valued at approximately $16,866,636. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,347 shares of company stock worth $7,734,616. Insiders own 1.99% of the company's stock.

Cadence Design Systems Price Performance

Shares of CDNS traded up $11.25 during trading hours on Wednesday, reaching $309.02. 880,045 shares of the stock traded hands, compared to its average volume of 1,770,186. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The company's 50-day moving average price is $271.56 and its two-hundred day moving average price is $282.41. The company has a market cap of $84.75 billion, a P/E ratio of 80.46, a price-to-earnings-growth ratio of 3.64 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results 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. 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 analysts' expectations of $1.18 billion. During the same quarter in the previous year, the company earned $1.01 EPS. Cadence Design Systems's revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Analysts Set New Price Targets

CDNS has been the subject of a number of research analyst reports. Needham & Company LLC cut their target price 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. Mizuho initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $325.00 target price for the company. Robert W. Baird lifted their target price on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Oppenheimer initiated coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They issued an "underperform" rating and a $225.00 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 research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $326.00.

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.