Lbp Am Sa Cuts Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

LBP AM SA lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 125,464 shares of the software maker's stock after selling 5,377 shares during the period. LBP AM SA's holdings in Cadence Design Systems were worth $31,909,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Park Square Financial Group LLC purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at about $348,000. Citizens Financial Group Inc. RI raised its stake in shares of Cadence Design Systems by 80.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 8,058 shares of the software maker's stock valued at $2,421,000 after buying an additional 3,595 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Cadence Design Systems by 5.2% during the 4th quarter. Royal London Asset Management Ltd. now owns 155,873 shares of the software maker's stock valued at $46,834,000 after buying an additional 7,766 shares during the last quarter. Jensen Investment Management Inc. purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at about $126,571,000. Finally, Clare Market Investments LLC purchased a new position in shares of Cadence Design Systems during the 4th quarter valued at about $431,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of recent research reports. Rosenblatt Securities lifted their price objective on Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. KeyCorp lifted their price target on Cadence Design Systems from $355.00 to $375.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. 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 research note on Friday, May 16th. Robert W. Baird lifted their price target on Cadence Design Systems from $293.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. upgraded Cadence Design Systems from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $300.00 to $325.00 in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $325.23.

Cadence Design Systems Price Performance

CDNS stock traded down $0.37 during trading on Wednesday, hitting $322.91. The stock had a trading volume of 1,092,043 shares, compared to its average volume of 2,031,149. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 2.90. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $330.09. The stock has a market capitalization of $88.17 billion, a P/E ratio of 81.75, a PEG ratio of 4.44 and a beta of 0.99. The company's 50-day moving average price is $306.62 and its two-hundred day moving average price is $287.10.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate 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%. The business's revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. As a group, research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $306.35, for a total transaction of $306,350.00. Following the sale, the vice president 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $277,716.60. Following the sale, the director directly owned 23,996 shares in the company, valued at approximately $7,677,520.20. The trade was a 3.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,975 shares of company stock worth $6,114,587. 0.37% of the stock is owned by company insiders.

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.