Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Axa S.A.

Axa S.A. cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 9.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,135,130 shares of the software maker's stock after selling 112,324 shares during the period. Cadence Design Systems comprises about 1.0% of Axa S.A.'s holdings, making the stock its 13th biggest holding. Axa S.A. owned 0.41% of Cadence Design Systems worth $341,061,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in Cadence Design Systems in the 4th quarter worth about $28,000. Avalon Trust Co acquired a new stake in shares of Cadence Design Systems in the fourth quarter worth approximately $39,000. Versant Capital Management Inc increased its position in shares of Cadence Design Systems by 164.2% during the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock worth $42,000 after purchasing an additional 87 shares in the last quarter. OFI Invest Asset Management acquired a new position in Cadence Design Systems in the 4th quarter valued at $46,000. Finally, Synergy Investment Management LLC purchased a new position in Cadence Design Systems in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Trading Up 2.8 %

NASDAQ CDNS opened at $308.15 on Friday. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $328.99. The stock has a market capitalization of $84.53 billion, a P/E ratio of 79.83, a PEG ratio of 3.88 and a beta of 1.14. The firm's 50-day moving average is $258.32 and its two-hundred day moving average is $282.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.07. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.24 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The firm's quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Scannell sold 4,710 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,413,000.00. Following the sale, the vice president now directly owns 28,442 shares in the company, valued at $8,532,600. This represents a 14.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $292.32, for a total transaction of $190,008.00. Following the completion of the transaction, the vice president now directly owns 58,773 shares of the company's stock, valued at approximately $17,180,523.36. The trade was a 1.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,840 shares of company stock valued at $1,980,999. Corporate insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent research reports. Oppenheimer reduced their target price on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a research report on Wednesday, March 19th. Mizuho increased their price objective on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday. Redburn Atlantic initiated coverage on Cadence Design Systems in a report on Monday, January 13th. They set a "buy" rating and a $350.00 target price on the stock. JPMorgan Chase & Co. raised Cadence Design Systems from a "neutral" rating to an "overweight" rating and increased their price target for the company from $300.00 to $325.00 in a report on Thursday, April 24th. Finally, StockNews.com lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $322.54.

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.

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