Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 962,281 shares of the software maker’s stock after buying an additional 154,959 shares during the quarter. Cadence Design Systems accounts for about 0.8% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s investment portfolio, making the stock its 20th largest position. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.35% of Cadence Design Systems worth $299,539,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC acquired a new position in Cadence Design Systems in the first quarter worth approximately $25,000. RiverPark Advisors LLC acquired a new position in Cadence Design Systems in the 1st quarter worth approximately $26,000. Valley National Advisers Inc. boosted its stake in Cadence Design Systems by 90.4% in the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after purchasing an additional 47 shares during the period. Fortitude Family Office LLC acquired a new position in Cadence Design Systems in the 4th quarter worth approximately $28,000. Finally, Annapolis Financial Services LLC acquired a new position in Cadence Design Systems in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CDNS shares. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Robert W. Baird raised their price objective on shares of Cadence Design Systems from $322.00 to $341.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a research note on Friday, May 17th. Finally, Bank of America lifted their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $334.89.

Cadence Design Systems Stock Down 7.6 %

Shares of CDNS stock traded down $23.61 on Wednesday, hitting $288.12. The company’s stock had a trading volume of 3,558,458 shares, compared to its average volume of 1,541,835. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19. Cadence Design Systems, Inc. has a fifty-two week low of $217.77 and a fifty-two week high of $328.99. The firm’s fifty day moving average price is $303.12 and its 200-day moving average price is $297.46. The stock has a market capitalization of $78.49 billion, a price-to-earnings ratio of 75.03, a P/E/G ratio of 3.86 and a beta of 1.03.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the business earned $1.02 EPS. Cadence Design Systems’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts anticipate that Cadence Design Systems, Inc. will post 4.77 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, VP Chin-Chi Teng sold 32,184 shares of Cadence Design Systems stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $297.45, for a total value of $9,573,130.80. Following the transaction, the vice president now owns 95,408 shares in the company, valued at approximately $28,379,109.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Chin-Chi Teng sold 32,184 shares of Cadence Design Systems stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $297.45, for a total value of $9,573,130.80. Following the transaction, the vice president now owns 95,408 shares in the company, valued at approximately $28,379,109.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total transaction of $165,216.00. Following the completion of the transaction, the senior vice president now owns 20,480 shares in the company, valued at approximately $5,639,372.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,134 shares of company stock valued at $14,987,093. Insiders own 1.99% of the company’s stock.

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.