Mn Services Vermogensbeheer B.V. Decreases Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mn Services Vermogensbeheer B.V. cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 100,937 shares of the software maker's stock after selling 7,100 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Cadence Design Systems were worth $25,671,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Ancora Advisors LLC raised its position 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 valued at $36,000 after buying an additional 112 shares during the last quarter. Avalon Trust Co acquired a new position in Cadence Design Systems in the 4th quarter valued at about $39,000. OFI Invest Asset Management bought a new position in shares of Cadence Design Systems during the fourth quarter worth approximately $46,000. Synergy Investment Management LLC bought a new position in Cadence Design Systems during the 4th quarter worth $50,000. Finally, Center for Financial Planning Inc. bought a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $59,000. Institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In related news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the sale, the director now owns 8,010 shares in the company, valued at $2,435,040. This represents a 2.20% decrease in their position. 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 650 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total transaction of $164,216.00. Following the sale, the vice president now directly owns 108,799 shares of the company's stock, valued at approximately $27,486,979.36. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,625 shares of company stock worth $5,670,453. 0.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CDNS has been the subject of a number of analyst reports. Oppenheimer dropped their price target on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and set a $325.00 target price on shares of Cadence Design Systems in a research report on Tuesday, May 13th. Bank of America raised their price target on Cadence Design Systems from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Loop Capital cut their price objective on shares of Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Finally, Robert W. Baird boosted 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $325.23.

Cadence Design Systems Price Performance

Cadence Design Systems stock traded down $7.85 during mid-day trading on Friday, reaching $300.00. The company had a trading volume of 1,188,835 shares, compared to its average volume of 2,023,501. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $328.99. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The company has a market cap of $81.91 billion, a P/E ratio of 77.72, a P/E/G ratio of 3.88 and a beta of 0.99. The business has a fifty day simple moving average of $292.59 and a 200 day simple moving average of $287.24.

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 the consensus estimate of $1.50 by $0.07. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The firm's revenue was up 23.1% compared to the same quarter last year. On average, equities research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Cadence Design Systems 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.