Stonehage Fleming Financial Services Holdings Ltd Sells 248,959 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Stonehage Fleming Financial Services Holdings Ltd trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 27.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 651,710 shares of the software maker's stock after selling 248,959 shares during the quarter. Cadence Design Systems comprises 5.5% of Stonehage Fleming Financial Services Holdings Ltd's holdings, making the stock its 5th largest position. Stonehage Fleming Financial Services Holdings Ltd owned approximately 0.24% of Cadence Design Systems worth $195,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in Cadence Design Systems by 0.5% during the third quarter. State Street Corp now owns 11,922,747 shares of the software maker's stock worth $3,231,422,000 after acquiring an additional 60,490 shares during the period. Jennison Associates LLC boosted its stake in shares of Cadence Design Systems by 2.7% during the 3rd quarter. Jennison Associates LLC now owns 7,606,175 shares of the software maker's stock worth $2,061,502,000 after acquiring an additional 198,230 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cadence Design Systems by 0.9% during the 3rd 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 acquiring an additional 37,452 shares during the period. Nordea Investment Management AB increased its stake in shares of Cadence Design Systems by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 2,933,392 shares of the software maker's stock valued at $885,356,000 after purchasing an additional 178,212 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Cadence Design Systems by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker's stock worth $689,472,000 after purchasing an additional 572,251 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CDNS shares. Berenberg Bank started coverage on Cadence Design Systems in a research report on Tuesday, October 15th. They issued a "buy" rating and a $320.00 price objective for the company. Robert W. Baird boosted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Loop Capital began coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They issued a "buy" rating and a $360.00 target price for the company. Wells Fargo & Company began coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an "overweight" rating and a $350.00 price objective on the stock. Finally, Mizuho boosted their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average price target of $329.50.

Insiders Place Their Bets

In other news, CEO Anirudh Devgan sold 5,920 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total value of $1,799,916.80. Following the transaction, the chief executive officer now owns 55,874 shares of the company's stock, valued at approximately $16,987,930.96. The trade was a 9.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $276.00, for a total value of $179,400.00. Following the sale, the vice president now directly owns 61,111 shares of the company's stock, valued at approximately $16,866,636. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,416 shares of company stock valued at $33,528,267. Insiders own 1.99% of the company's stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded down $30.61 on Monday, hitting $289.87. The stock had a trading volume of 3,677,903 shares, compared to its average volume of 1,608,839. The company's 50 day moving average price is $306.14 and its 200 day moving average price is $284.89. The stock has a market cap of $79.50 billion, a price-to-earnings ratio of 76.08, a P/E/G ratio of 3.70 and a beta of 1.04. 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.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm posted $1.01 earnings per share. The company's revenue for the quarter was up 18.8% compared to the same quarter last year. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS 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.