Schroder Investment Management Group Lowers Stock Position in Cadence Design Systems Inc (NASDAQ:CDNS)

Schroder Investment Management Group lessened its stake in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 756,247 shares of the software maker’s stock after selling 22,291 shares during the quarter. Schroder Investment Management Group owned 0.27% of Cadence Design Systems worth $53,551,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. MARSHALL WACE ASIA Ltd bought a new position in Cadence Design Systems in the 1st quarter valued at about $39,027,000. FMR LLC raised its position in Cadence Design Systems by 59.0% during the first quarter. FMR LLC now owns 1,653,160 shares of the software maker’s stock worth $104,992,000 after acquiring an additional 613,581 shares during the period. Acadian Asset Management LLC raised its position in Cadence Design Systems by 13.7% during the second quarter. Acadian Asset Management LLC now owns 2,280,892 shares of the software maker’s stock worth $161,509,000 after acquiring an additional 275,616 shares during the period. TD Asset Management Inc. raised its position in Cadence Design Systems by 75.2% during the second quarter. TD Asset Management Inc. now owns 625,152 shares of the software maker’s stock worth $44,267,000 after acquiring an additional 268,313 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Cadence Design Systems by 15.8% in the first quarter. First Trust Advisors LP now owns 1,825,521 shares of the software maker’s stock valued at $115,939,000 after buying an additional 249,724 shares during the last quarter. 86.68% of the stock is owned by institutional investors.

Cadence Design Systems stock traded up $0.47 during midday trading on Wednesday, hitting $65.63. 281,412 shares of the stock were exchanged, compared to its average volume of 1,885,883. Cadence Design Systems Inc has a fifty-two week low of $39.08 and a fifty-two week high of $77.08. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 4.45 and a beta of 1.19. The stock’s 50-day simple moving average is $68.10 and its 200 day simple moving average is $67.78. The company has a current ratio of 1.60, a quick ratio of 1.52 and a debt-to-equity ratio of 0.24.



Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Cadence Design Systems had a net margin of 18.83% and a return on equity of 31.86%. The firm had revenue of $580.42 million during the quarter, compared to analysts’ expectations of $579.41 million. During the same period last year, the business earned $0.45 earnings per share. Cadence Design Systems’s revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Cadence Design Systems Inc will post 1.48 EPS for the current fiscal year.

In related news, insider Aneel Zaman sold 523 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $72.78, for a total value of $38,063.94. Following the sale, the insider now owns 246,114 shares of the company’s stock, valued at approximately $17,912,176.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lip Bu Tan sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $65.29, for a total value of $2,611,600.00. Following the completion of the sale, the chief executive officer now directly owns 888,272 shares in the company, valued at approximately $57,995,278.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,936 shares of company stock worth $11,022,704. 2.34% of the stock is owned by insiders.

A number of equities research analysts have recently commented on CDNS shares. BidaskClub cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Needham & Company LLC increased their target price on shares of Cadence Design Systems to $76.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Credit Suisse Group increased their target price on shares of Cadence Design Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. ValuEngine cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Bank of America started coverage on shares of Cadence Design Systems in a research report on Monday. They issued a “neutral” rating and a $73.00 target price for the company. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Cadence Design Systems currently has an average rating of “Buy” and an average price target of $67.89.

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 simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform.

Read More: Mutual Funds

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

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