Fiera Capital Corp Grows Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Fiera Capital Corp increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,962 shares of the software maker's stock after acquiring an additional 3,171 shares during the period. Fiera Capital Corp's holdings in Cadence Design Systems were worth $8,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ramirez Asset Management Inc. increased its holdings in shares of Cadence Design Systems by 14.6% in the 1st quarter. Ramirez Asset Management Inc. now owns 1,571 shares of the software maker's stock worth $400,000 after buying an additional 200 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Cadence Design Systems by 6.8% in the 1st quarter. LPL Financial LLC now owns 348,303 shares of the software maker's stock worth $88,584,000 after buying an additional 22,109 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Cadence Design Systems by 1.7% in the 1st quarter. Empirical Finance LLC now owns 9,366 shares of the software maker's stock worth $2,382,000 after buying an additional 160 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Cadence Design Systems by 300.3% in the 1st quarter. HB Wealth Management LLC now owns 18,175 shares of the software maker's stock worth $4,623,000 after buying an additional 13,635 shares during the last quarter. Finally, Mediolanum International Funds Ltd increased its holdings in shares of Cadence Design Systems by 79.5% in the 1st quarter. Mediolanum International Funds Ltd now owns 19,741 shares of the software maker's stock worth $5,067,000 after buying an additional 8,743 shares during the last quarter. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Up 1.3%

NASDAQ:CDNS traded up $4.77 on Wednesday, reaching $371.03. 3,882,105 shares of the stock traded hands, compared to its average volume of 1,705,671. The company's fifty day simple moving average is $310.57 and its 200 day simple moving average is $289.31. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $374.05. The company has a market capitalization of $101.31 billion, a price-to-earnings ratio of 100.28, a PEG ratio of 5.09 and a beta of 0.99. The company has a current ratio of 2.82, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The business's revenue for the quarter was up 20.2% on a year-over-year basis. Equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In other news, Director James D. Plummer sold 868 shares of Cadence Design Systems stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $319.95, for a total value of $277,716.60. Following the completion of the sale, the director directly owned 23,996 shares in the company, valued at $7,677,520.20. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $306.35, for a total transaction of $306,350.00. Following the completion of the transaction, the vice president directly owned 105,499 shares in the company, valued at approximately $32,319,618.65. The trade was a 0.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,085 shares of company stock valued at $4,652,087. Insiders own 1.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CDNS shares. The Goldman Sachs Group started coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 target price on the stock. Bank of America increased their price target on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised their target price on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday. Robert W. Baird raised their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Stifel Nicolaus raised their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $359.00.

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.