Natixis Acquires 98,853 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Natixis lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 345.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,480 shares of the software maker's stock after acquiring an additional 98,853 shares during the period. Natixis' holdings in Cadence Design Systems were worth $38,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Cadence Design Systems in the 4th quarter valued at approximately $28,000. Avalon Trust Co bought a new position in shares of Cadence Design Systems in the fourth quarter valued at approximately $39,000. Versant Capital Management Inc lifted its position in Cadence Design Systems by 164.2% during the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock worth $42,000 after acquiring an additional 87 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Cadence Design Systems during the 4th quarter worth about $46,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Cadence Design Systems during the fourth quarter worth approximately $50,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDNS. Robert W. Baird decreased their target price 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. Rosenblatt Securities lifted their price target on shares of Cadence Design Systems from $280.00 to $295.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Bank of America reduced their price objective on Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Oppenheimer dropped 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 research report on Wednesday, March 19th. Finally, Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They set a "buy" rating and a $350.00 price target for the company. One investment 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 MarketBeat, Cadence Design Systems presently has an average rating of "Moderate Buy" and an average target price of $320.67.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 650 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total transaction of $164,216.00. Following the sale, the vice president now owns 108,799 shares in the company, valued at $27,486,979.36. This represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders sold 1,950 shares of company stock worth $518,499. 1.99% of the stock is owned by insiders.

Cadence Design Systems Stock Down 3.3 %

Shares of CDNS traded down $8.66 on Monday, hitting $251.56. The company's stock had a trading volume of 1,492,886 shares, compared to its average volume of 1,948,891. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $69.01 billion, a price-to-earnings ratio of 65.17, a P/E/G ratio of 3.88 and a beta of 1.14. The firm's fifty day moving average price is $256.38 and its 200-day moving average price is $282.13. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released 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 firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current 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.