Cadence Design Systems, Inc. (CDNS) Position Trimmed by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 44.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,788 shares of the software maker’s stock after selling 18,018 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cadence Design Systems were worth $899,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Caxton Associates LP lifted its position in Cadence Design Systems by 0.6% during the second quarter. Caxton Associates LP now owns 15,900 shares of the software maker’s stock worth $532,000 after purchasing an additional 100 shares during the period. Wetherby Asset Management Inc. raised its stake in Cadence Design Systems by 1.2% during the second quarter. Wetherby Asset Management Inc. now owns 9,581 shares of the software maker’s stock worth $321,000 after acquiring an additional 109 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Cadence Design Systems by 6.4% during the second quarter. PNC Financial Services Group Inc. now owns 10,130 shares of the software maker’s stock worth $338,000 after acquiring an additional 612 shares in the last quarter. World Asset Management Inc raised its stake in Cadence Design Systems by 3.2% during the second quarter. World Asset Management Inc now owns 20,369 shares of the software maker’s stock worth $682,000 after acquiring an additional 628 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its stake in Cadence Design Systems by 5.0% during the second quarter. ETRADE Capital Management LLC now owns 18,909 shares of the software maker’s stock worth $633,000 after acquiring an additional 899 shares in the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.

In other news, VP James J. Cowie sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $42.75, for a total value of $1,496,250.00. Following the completion of the transaction, the vice president now owns 117,082 shares of the company’s stock, valued at $5,005,255.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Aneel Zaman sold 32,255 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.32, for a total value of $1,429,541.60. Following the completion of the transaction, the vice president now directly owns 217,497 shares of the company’s stock, valued at approximately $9,639,467.04. The disclosure for this sale can be found here. Insiders sold 230,224 shares of company stock valued at $9,879,242 in the last ninety days. 2.55% of the stock is currently owned by insiders.

Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at $42.90 on Thursday. Cadence Design Systems, Inc. has a 52 week low of $24.15 and a 52 week high of $45.64. The company has a quick ratio of 1.72, a current ratio of 1.79 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $12,090.00, a P/E ratio of 45.61, a PEG ratio of 3.35 and a beta of 0.93.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Cadence Design Systems had a return on equity of 29.00% and a net margin of 13.45%. The company had revenue of $485.40 million during the quarter, compared to the consensus estimate of $481.10 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. analysts expect that Cadence Design Systems, Inc. will post 1.06 EPS for the current fiscal year.

Several brokerages have commented on CDNS. KeyCorp reissued a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. Zacks Investment Research raised Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Wednesday, November 1st. DA Davidson boosted their target price on Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $46.00 target price on shares of Cadence Design Systems in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.60.

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About Cadence Design Systems

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

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

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