Rockefeller Capital Management L.P. Has $64.75 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Rockefeller Capital Management L.P. grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,493 shares of the software maker's stock after purchasing an additional 24,964 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.08% of Cadence Design Systems worth $64,749,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Cadence Design Systems by 33.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker's stock valued at $547,886,000 after acquiring an additional 501,833 shares during the last quarter. M&T Bank Corp increased its position in Cadence Design Systems by 78.5% during the third quarter. M&T Bank Corp now owns 35,218 shares of the software maker's stock worth $9,546,000 after purchasing an additional 15,491 shares during the last quarter. Advisory Resource Group raised its stake in Cadence Design Systems by 20.9% during the third quarter. Advisory Resource Group now owns 3,721 shares of the software maker's stock worth $1,009,000 after purchasing an additional 643 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Cadence Design Systems by 20.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 19,870 shares of the software maker's stock valued at $5,385,000 after purchasing an additional 3,367 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in shares of Cadence Design Systems by 656.3% during the 3rd quarter. World Investment Advisors LLC now owns 7,457 shares of the software maker's stock valued at $2,021,000 after buying an additional 6,471 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Up 0.4 %

Shares of NASDAQ CDNS traded up $0.96 during mid-day trading on Friday, reaching $260.22. 1,914,622 shares of the company traded hands, compared to its average volume of 1,953,984. The company's fifty day moving average is $258.10 and its two-hundred day moving average is $282.05. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $328.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The stock has a market cap of $71.38 billion, a PE ratio of 67.41, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. On average, analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Oppenheimer decreased their target price on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a report on Wednesday, March 19th. Robert W. Baird dropped their price objective on shares of Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Loop Capital cut their target price on shares of Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Redburn Atlantic started coverage on Cadence Design Systems in a report on Monday, January 13th. They issued a "buy" rating and a $350.00 price target for the company. Finally, Needham & Company LLC restated a "buy" rating and set a $325.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $320.67.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total value of $164,274.50. Following the completion of the transaction, the vice president now owns 58,123 shares in the company, valued at approximately $14,689,425.79. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,950 shares of company stock worth $518,499 over the last three months. Company insiders own 0.37% of the company's stock.

Cadence Design Systems Company 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.