Russell Investments Group Ltd. Has $48.59 Million Holdings in Cadence Design Systems Inc (CDNS)

Russell Investments Group Ltd. increased its holdings in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 17.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,077,123 shares of the software maker’s stock after purchasing an additional 158,633 shares during the period. Russell Investments Group Ltd. owned approximately 0.38% of Cadence Design Systems worth $48,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Cadence Design Systems by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,143,858 shares of the software maker’s stock worth $49,540,000 after purchasing an additional 6,029 shares during the last quarter. Westpac Banking Corp lifted its position in shares of Cadence Design Systems by 476.1% during the 2nd quarter. Westpac Banking Corp now owns 158,806 shares of the software maker’s stock worth $6,878,000 after purchasing an additional 131,239 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth about $254,000. Fort L.P. acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth about $119,000. Finally, Raymond James & Associates lifted its position in shares of Cadence Design Systems by 122.3% during the 2nd quarter. Raymond James & Associates now owns 121,288 shares of the software maker’s stock worth $5,253,000 after purchasing an additional 66,730 shares during the last quarter. 87.25% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems stock opened at $44.20 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 3.26 and a beta of 1.13. Cadence Design Systems Inc has a 12 month low of $35.49 and a 12 month high of $47.40.



Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 22nd. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.41 by $0.08. The firm had revenue of $532.47 million during the quarter, compared to analysts’ expectations of $516.50 million. Cadence Design Systems had a return on equity of 28.44% and a net margin of 11.25%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, analysts expect that Cadence Design Systems Inc will post 1.16 earnings per share for the current fiscal year.

CDNS has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $42.00 to $49.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 24th. Needham & Company LLC boosted their price objective on Cadence Design Systems from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. DA Davidson boosted their price objective on Cadence Design Systems to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Griffin Securities boosted their price objective on Cadence Design Systems from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Finally, Credit Suisse Group boosted their price objective on Cadence Design Systems from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 24th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Cadence Design Systems presently has a consensus rating of “Buy” and a consensus price target of $50.86.

In other Cadence Design Systems news, VP James J. Cowie sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $45.99, for a total value of $2,759,400.00. Following the completion of the transaction, the vice president now owns 106,949 shares of the company’s stock, valued at approximately $4,918,584.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lip Bu Tan sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $45.33, for a total value of $4,533,000.00. Following the completion of the transaction, the chief executive officer now directly owns 552,813 shares of the company’s stock, valued at approximately $25,059,013.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,476 shares of company stock valued at $12,829,314. Insiders own 2.28% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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