Achmea Investment Management B.V. Sells 22,310 Shares of Cadence Design Systems Inc (CDNS)

Achmea Investment Management B.V. lessened its stake in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 72.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,516 shares of the software maker’s stock after selling 22,310 shares during the quarter. Achmea Investment Management B.V.’s holdings in Cadence Design Systems were worth $385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CDNS. Psagot Investment House Ltd. boosted its stake in Cadence Design Systems by 52.4% in the 3rd quarter. Psagot Investment House Ltd. now owns 3,262 shares of the software maker’s stock worth $148,000 after buying an additional 1,121 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Cadence Design Systems by 6.3% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,829,140 shares of the software maker’s stock worth $82,897,000 after buying an additional 108,570 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in Cadence Design Systems by 3.6% in the 3rd quarter. Gulf International Bank UK Ltd now owns 91,663 shares of the software maker’s stock worth $4,154,000 after buying an additional 3,172 shares during the last quarter. BP PLC acquired a new stake in Cadence Design Systems in the 3rd quarter worth about $1,586,000. Finally, Virginia Retirement Systems ET AL boosted its stake in Cadence Design Systems by 54.6% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 394,800 shares of the software maker’s stock worth $17,892,000 after buying an additional 139,400 shares during the last quarter. Hedge funds and other institutional investors own 87.69% of the company’s stock.

CDNS has been the topic of a number of research analyst reports. Benchmark raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Tuesday, October 23rd. Griffin Securities raised their price target on Cadence Design Systems from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. DA Davidson raised their price target on Cadence Design Systems to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Needham & Company LLC lifted their price objective on Cadence Design Systems from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Finally, BidaskClub raised Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Cadence Design Systems has an average rating of “Buy” and a consensus price target of $50.86.



NASDAQ CDNS opened at $45.54 on Friday. The stock has a market capitalization of $12.65 billion, a PE ratio of 42.96, a PEG ratio of 3.21 and a beta of 1.12. Cadence Design Systems Inc has a 1-year low of $35.49 and a 1-year high of $47.40. 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 released its quarterly earnings data on Monday, October 22nd. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.08. The business had revenue of $532.47 million for the quarter, compared to analyst estimates 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 was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Sell-side analysts expect that Cadence Design Systems Inc will post 1.16 EPS for the current fiscal year.

In related news, CEO Lip Bu Tan sold 5,469 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $46.10, for a total transaction of $252,120.90. Following the transaction, the chief executive officer now directly owns 424,566 shares of the company’s stock, valued at approximately $19,572,492.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James J. Cowie sold 60,000 shares of the business’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 transaction, the vice president now directly owns 106,949 shares in the company, valued at $4,918,584.51. The disclosure for this sale can be found here. Insiders sold a total of 213,471 shares of company stock worth $9,763,272 over the last ninety days. Corporate insiders own 2.28% of the company’s stock.

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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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