China Universal Asset Management Co. Ltd. Has $2.10 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

China Universal Asset Management Co. Ltd. raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 85.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,270 shares of the software maker's stock after acquiring an additional 3,807 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Cadence Design Systems were worth $2,103,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Accredited Investors Inc. lifted its holdings in shares of Cadence Design Systems by 1.7% during the 4th quarter. Accredited Investors Inc. now owns 2,176 shares of the software maker's stock valued at $654,000 after buying an additional 36 shares during the last quarter. Principal Street Partners LLC lifted its holdings in shares of Cadence Design Systems by 2.6% during the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock valued at $437,000 after buying an additional 37 shares during the last quarter. Oarsman Capital Inc. lifted its holdings in shares of Cadence Design Systems by 3.8% during the 4th quarter. Oarsman Capital Inc. now owns 1,042 shares of the software maker's stock valued at $313,000 after buying an additional 38 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Cadence Design Systems by 3.9% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,072 shares of the software maker's stock valued at $285,000 after buying an additional 40 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its holdings in shares of Cadence Design Systems by 5.7% during the 4th quarter. Cohen & Steers Inc. now owns 774 shares of the software maker's stock valued at $233,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insider Buying and Selling at Cadence Design Systems

In other 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 directly owned 28,442 shares in the company, valued at approximately $8,532,600. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total value of $54,720.00. Following the sale, the director owned 8,010 shares in the company, valued at approximately $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,975 shares of company stock valued at $6,114,587 in the last quarter. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Performance

Shares of CDNS stock traded down $2.06 during trading hours on Friday, reaching $320.60. 1,201,465 shares of the company's stock were exchanged, compared to its average volume of 2,036,282. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $330.09. The stock has a market capitalization of $87.54 billion, a P/E ratio of 81.16, a P/E/G ratio of 4.47 and a beta of 0.99. The business has a fifty day moving average price of $307.83 and a 200-day moving average price of $287.56. The company has a quick ratio of 2.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.52.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.07. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.24 billion. Cadence Design Systems had a return on equity of 29.36% and a net margin of 22.18%. Cadence Design Systems's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 earnings per share. Analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Cadence Design Systems from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Mizuho lifted their price target on Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Bank of America lifted their price target on Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Rosenblatt Securities boosted their target price on Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. upgraded Cadence Design Systems from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $300.00 to $325.00 in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $327.93.

About Cadence Design Systems

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.