Cadence Design Systems, Inc. (NASDAQ:CDNS) Holdings Lowered by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 332,324 shares of the software maker's stock after selling 2,617 shares during the period. Nomura Asset Management Co. Ltd. owned 0.12% of Cadence Design Systems worth $99,850,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Cadence Design Systems by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 25,909,187 shares of the software maker's stock valued at $7,784,674,000 after purchasing an additional 201,340 shares during the period. State Street Corp increased its stake in shares of Cadence Design Systems by 0.5% during the 3rd quarter. State Street Corp now owns 11,922,747 shares of the software maker's stock valued at $3,231,422,000 after acquiring an additional 60,490 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Cadence Design Systems by 5.3% in the fourth quarter. Jennison Associates LLC now owns 8,010,251 shares of the software maker's stock worth $2,406,760,000 after acquiring an additional 404,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cadence Design Systems by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,988,851 shares of the software maker's stock valued at $1,081,098,000 after purchasing an additional 37,452 shares during the period. Finally, Norges Bank purchased a new position in Cadence Design Systems during the fourth quarter worth approximately $1,170,209,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on CDNS. Loop Capital lowered their price objective on shares of Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. StockNews.com cut Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Mizuho lifted their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Bank of America dropped their price objective on shares of Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Finally, Oppenheimer decreased their price target 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. 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. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and an average target price of $324.83.

Insider Activity

In other news, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $304.84, for a total transaction of $198,146.00. Following the transaction, the vice president now directly owns 59,311 shares of the company's stock, valued at approximately $18,080,365.24. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anirudh Devgan sold 93,151 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 55,874 shares of the company's stock, valued at $17,320,940. This trade represents a 62.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,021 shares of company stock valued at $31,229,155. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Performance

CDNS stock traded up $2.14 during trading on Tuesday, hitting $256.47. 404,007 shares of the company's stock traded hands, compared to its average volume of 2,086,987. The stock has a market capitalization of $70.35 billion, a price-to-earnings ratio of 66.41, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05. Cadence Design Systems, Inc. has a 52 week low of $230.09 and a 52 week high of $328.99. The stock has a fifty day moving average price of $273.52 and a two-hundred day moving average price of $284.41. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

About Cadence Design Systems

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.