Nisa Investment Advisors LLC Has $34.35 Million Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nisa Investment Advisors LLC lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,056 shares of the software maker's stock after selling 4,232 shares during the quarter. Nisa Investment Advisors LLC's holdings in Cadence Design Systems were worth $34,349,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in CDNS. Linden Thomas Advisory Services LLC increased its holdings in Cadence Design Systems by 5.6% in the first quarter. Linden Thomas Advisory Services LLC now owns 15,493 shares of the software maker's stock valued at $3,940,000 after buying an additional 820 shares in the last quarter. Greenleaf Trust raised its position in shares of Cadence Design Systems by 0.7% during the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker's stock worth $1,476,000 after purchasing an additional 39 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in Cadence Design Systems by 19.8% in the 1st quarter. Personal CFO Solutions LLC now owns 1,175 shares of the software maker's stock valued at $299,000 after buying an additional 194 shares in the last quarter. Highview Capital Management LLC DE lifted its stake in Cadence Design Systems by 3.5% in the 1st quarter. Highview Capital Management LLC DE now owns 6,522 shares of the software maker's stock valued at $1,659,000 after buying an additional 218 shares in the last quarter. Finally, Ninety One UK Ltd lifted its holdings in Cadence Design Systems by 4.2% in the 1st quarter. Ninety One UK Ltd now owns 195,526 shares of the software maker's stock valued at $49,728,000 after purchasing an additional 7,808 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Down 0.1%

NASDAQ CDNS traded down $0.37 on Wednesday, hitting $322.91. 1,092,043 shares of the stock traded hands, compared to its average volume of 2,035,983. The company has a market capitalization of $88.17 billion, a P/E ratio of 81.75, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. The stock has a 50-day moving average of $306.62 and a 200 day moving average of $287.10. The company has a current ratio of 3.07, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $330.09.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings results 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. Cadence Design Systems had a return on equity of 29.36% and a net margin of 22.18%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the prior year, the firm earned $1.17 EPS. The business's quarterly revenue was up 23.1% on a year-over-year basis. As a group, analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Rosenblatt Securities upped their price target on Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. KeyCorp boosted their target price on Cadence Design Systems from $355.00 to $375.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upgraded 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, Mizuho lifted their price objective on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $325.23.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Scannell sold 4,710 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $300.00, for a total transaction of $1,413,000.00. Following the sale, the vice president owned 28,442 shares of the company's stock, valued at $8,532,600. The trade was 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 1,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $306.35, for a total value of $306,350.00. Following the transaction, the vice president directly owned 105,499 shares of the company's stock, valued at approximately $32,319,618.65. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,975 shares of company stock worth $6,114,587 over the last quarter. Insiders own 1.99% 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.