Standard Life Aberdeen plc Sells 4,237 Shares of Cadence Design Systems Inc (CDNS)

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Standard Life Aberdeen plc trimmed its holdings in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,909 shares of the software maker’s stock after selling 4,237 shares during the quarter. Standard Life Aberdeen plc’s holdings in Cadence Design Systems were worth $3,252,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CDNS. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Cadence Design Systems by 244.8% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 153,995 shares of the software maker’s stock valued at $5,857,000 after purchasing an additional 109,337 shares in the last quarter. Martingale Asset Management L P boosted its position in Cadence Design Systems by 13.1% during the 4th quarter. Martingale Asset Management L P now owns 999,971 shares of the software maker’s stock worth $43,479,000 after buying an additional 116,141 shares during the period. State of Tennessee Treasury Department boosted its position in Cadence Design Systems by 58.8% during the 4th quarter. State of Tennessee Treasury Department now owns 100,256 shares of the software maker’s stock worth $4,359,000 after buying an additional 37,126 shares during the period. Jaffetilchin Investment Partners LLC acquired a new stake in Cadence Design Systems during the 4th quarter worth approximately $684,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Cadence Design Systems by 9.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,416 shares of the software maker’s stock worth $453,000 after purchasing an additional 881 shares during the last quarter. 86.89% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have issued reports on CDNS. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Needham & Company LLC lifted their price objective on shares of Cadence Design Systems from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday. ValuEngine upgraded shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 23rd. BidaskClub upgraded shares of Cadence Design Systems from a “sell” rating to a “hold” rating in a research note on Friday, November 23rd. Finally, Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research note on Tuesday, November 20th. They issued a “hold” rating and a $50.00 price objective for the company. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $54.88.

NASDAQ:CDNS opened at $61.16 on Friday. The firm has a market capitalization of $17.01 billion, a PE ratio of 49.72, a P/E/G ratio of 3.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 1.30. Cadence Design Systems Inc has a twelve month low of $35.49 and a twelve month high of $61.43.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Tuesday, February 19th. The software maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $569.90 million during the quarter, compared to analyst estimates of $550.22 million. Cadence Design Systems had a net margin of 16.17% and a return on equity of 28.36%. Cadence Design Systems’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. Analysts forecast that Cadence Design Systems Inc will post 1.4 EPS for the current fiscal year.

In other Cadence Design Systems news, insider Chin-Chi Teng sold 5,084 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.92, for a total transaction of $294,465.28. Following the completion of the sale, the insider now owns 106,363 shares in the company, valued at approximately $6,160,544.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas P. Beckley sold 37,855 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $58.90, for a total transaction of $2,229,659.50. Following the sale, the insider now owns 220,618 shares of the company’s stock, valued at approximately $12,994,400.20. The disclosure for this sale can be found here. Insiders have sold a total of 232,953 shares of company stock valued at $11,907,228 in the last 90 days. 2.28% of the stock is currently owned by company insiders.

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Cadence Design Systems Company Profile

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.

See Also: What is a Reverse Stock Split?

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

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