Deutsche Bank AG boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,250,405 shares of the software maker's stock after buying an additional 63,007 shares during the period. Deutsche Bank AG owned approximately 0.46% of Cadence Design Systems worth $375,697,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at $28,000. Ancora Advisors LLC boosted its holdings in Cadence Design Systems by 1,400.0% in the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after buying an additional 112 shares during the period. Avalon Trust Co purchased a new position in shares of Cadence Design Systems in the fourth quarter valued at $39,000. OFI Invest Asset Management bought a new position in Cadence Design Systems in the 4th quarter worth about $46,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at $50,000. 84.85% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, VP Paul Scannell sold 4,710 shares of Cadence Design Systems 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 completion of the transaction, the vice president now directly owns 28,442 shares of the company's stock, valued at approximately $8,532,600. The trade was a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anirudh Devgan sold 10,737 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $310.00, for a total transaction of $3,328,470.00. Following the completion of the sale, the chief executive officer now directly owns 209,548 shares in the company, valued at $64,959,880. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,577 shares of company stock worth $5,316,411 over the last 90 days. Corporate insiders own 1.99% of the company's stock.
Cadence Design Systems Stock Performance
Shares of CDNS stock traded up $0.71 during mid-day trading on Wednesday, reaching $319.37. 670,551 shares of the company's stock traded hands, compared to its average volume of 1,967,862. 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 firm has a 50 day moving average price of $267.19 and a two-hundred day moving average price of $285.60. The firm has a market capitalization of $87.20 billion, a PE ratio of 82.74, a price-to-earnings-growth ratio of 3.88 and a beta of 1.04. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $328.99.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.07. The company had revenue of $1.24 billion for 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 revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 EPS. On average, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have issued reports on CDNS shares. Robert W. Baird lifted their target price on shares of Cadence Design Systems from $293.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised Cadence Design Systems from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $300.00 to $325.00 in a report on Thursday, April 24th. Oppenheimer cut their price target on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a report on Wednesday, March 19th. Mizuho lifted their price objective on Cadence Design Systems from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $325.00 price target on shares of Cadence Design Systems in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $322.54.
View Our Latest Stock Analysis on CDNS
About Cadence Design Systems
(
Free Report)
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.
Recommended Stories

Before you consider Cadence Design Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cadence Design Systems wasn't on the list.
While Cadence Design Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.