QUANTRES ASSET MANAGEMENT Ltd Purchases Shares of 9,400 Cadence Design Systems Inc (CDNS)

QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Cadence Design Systems Inc (NASDAQ:CDNS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,400 shares of the software maker’s stock, valued at approximately $426,000.

A number of other large investors have also recently bought and sold shares of CDNS. Ladenburg Thalmann Financial Services Inc. raised its holdings in Cadence Design Systems by 21.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,562 shares of the software maker’s stock valued at $389,000 after buying an additional 1,871 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Cadence Design Systems by 8.4% during the 1st quarter. Allianz Asset Management GmbH now owns 1,926,819 shares of the software maker’s stock valued at $70,849,000 after buying an additional 148,830 shares during the last quarter. DnB Asset Management AS raised its holdings in Cadence Design Systems by 15.8% during the 2nd quarter. DnB Asset Management AS now owns 32,300 shares of the software maker’s stock valued at $1,399,000 after buying an additional 4,400 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in Cadence Design Systems by 112.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 11,653 shares of the software maker’s stock valued at $505,000 after buying an additional 6,164 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Cadence Design Systems by 29.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 72,440 shares of the software maker’s stock valued at $3,137,000 after buying an additional 16,500 shares during the last quarter. Institutional investors own 87.25% of the company’s stock.

Shares of CDNS stock opened at $44.38 on Wednesday. Cadence Design Systems Inc has a one year low of $35.49 and a one year high of $47.40. The stock has a market cap of $12.84 billion, a P/E ratio of 41.87, a PEG ratio of 3.17 and a beta of 1.13. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27.



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

CDNS has been the subject of several research reports. BidaskClub lowered shares of Cadence Design Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. JPMorgan Chase & Co. upped their target price on shares of 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. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a research report on Thursday, October 25th. Credit Suisse Group upped their target price on shares of Cadence Design Systems from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 24th. Finally, Griffin Securities upped their target price on shares of Cadence Design Systems from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.86.

In other news, President Anirudh Devgan sold 20,476 shares of the firm’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $45.73, for a total transaction of $936,367.48. Following the sale, the president now owns 335,170 shares of the company’s stock, valued at approximately $15,327,324.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lip Bu Tan sold 5,469 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $46.10, for a total transaction of $252,120.90. Following the sale, the chief executive officer now directly owns 424,566 shares in the company, valued at approximately $19,572,492.60. The disclosure for this sale can be found here. Insiders have sold a total of 280,476 shares of company stock worth $12,829,314 over the last three months. 2.28% of the stock is currently owned by insiders.

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.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

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

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