Mn Services Vermogensbeheer B.V. Has $25.67 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mn Services Vermogensbeheer B.V. decreased its holdings in shares of 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 fund owned 100,937 shares of the software maker's stock after selling 7,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Cadence Design Systems were worth $25,671,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in Cadence Design Systems by 45.6% in the first quarter. Exchange Traded Concepts LLC now owns 70,891 shares of the software maker's stock valued at $18,030,000 after purchasing an additional 22,204 shares during the last quarter. Factory Mutual Insurance Co. raised its position in shares of Cadence Design Systems by 18.7% in the 1st quarter. Factory Mutual Insurance Co. now owns 208,971 shares of the software maker's stock valued at $53,148,000 after acquiring an additional 32,900 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Cadence Design Systems by 9.5% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,613 shares of the software maker's stock worth $919,000 after acquiring an additional 313 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Cadence Design Systems during the first quarter valued at approximately $78,000. Finally, BNC Wealth Management LLC increased its stake in Cadence Design Systems by 0.8% in the first quarter. BNC Wealth Management LLC now owns 23,105 shares of the software maker's stock valued at $5,876,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CDNS shares. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $300.00 to $325.00 in a research report on Thursday, April 24th. Mizuho boosted their target price on Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $325.00 price target on shares of Cadence Design Systems in a research report on Tuesday, May 13th. Rosenblatt Securities boosted their price objective on Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, April 29th. Finally, Robert W. Baird raised their target price on shares of Cadence Design Systems from $293.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average price target of $325.23.

Insider Activity

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total transaction of $164,216.00. Following the completion of the transaction, the vice president now owns 108,799 shares in the company, valued at approximately $27,486,979.36. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anirudh Devgan sold 10,737 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $310.00, for a total value of $3,328,470.00. Following the completion of the sale, the chief executive officer now owns 209,548 shares in the company, valued at $64,959,880. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,625 shares of company stock valued at $5,972,453. 0.37% of the stock is owned by insiders.

Cadence Design Systems Stock Down 0.7%

Cadence Design Systems stock traded down $2.16 during mid-day trading on Wednesday, reaching $296.84. The company's stock had a trading volume of 1,220,947 shares, compared to its average volume of 2,014,539. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.90 and a current ratio of 3.07. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $328.99. The business's 50 day simple moving average is $294.66 and its 200 day simple moving average is $287.16. The company has a market capitalization of $81.05 billion, a price-to-earnings ratio of 75.15, a price-to-earnings-growth ratio of 4.17 and a beta of 0.98.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter last year, the company earned $1.17 EPS. Cadence Design Systems's revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.