Universal Beteiligungs und Servicegesellschaft mbH Trims Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 9.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 226,929 shares of the software maker's stock after selling 23,370 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of Cadence Design Systems worth $57,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC increased its position in Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after buying an additional 1,054,702 shares during the period. FMR LLC increased its position in Cadence Design Systems by 8.7% during the fourth quarter. FMR LLC now owns 7,978,652 shares of the software maker's stock worth $2,397,266,000 after buying an additional 639,146 shares during the period. Geode Capital Management LLC increased its position in Cadence Design Systems by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,021,405 shares of the software maker's stock worth $1,806,019,000 after buying an additional 135,251 shares during the period. Alliancebernstein L.P. increased its position in Cadence Design Systems by 12.5% during the fourth quarter. Alliancebernstein L.P. now owns 5,676,194 shares of the software maker's stock worth $1,705,469,000 after buying an additional 632,175 shares during the period. Finally, Franklin Resources Inc. increased its position in Cadence Design Systems by 5.2% during the fourth quarter. Franklin Resources Inc. now owns 4,821,666 shares of the software maker's stock worth $1,448,718,000 after buying an additional 238,535 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock traded down $1.82 during trading on Thursday, reaching $324.64. The company's stock had a trading volume of 1,649,398 shares, compared to its average volume of 2,051,540. 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, Inc. has a 12-month low of $221.56 and a 12-month high of $330.09. The company has a market capitalization of $88.64 billion, a P/E ratio of 82.19, a price-to-earnings-growth ratio of 4.44 and a beta of 0.99. The business has a 50 day moving average price of $309.06 and a 200-day moving average price of $288.40.

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

Analyst Ratings Changes

Several research analysts have commented on CDNS shares. The Goldman Sachs Group started coverage on Cadence Design Systems in a research report on Thursday, July 10th. They set a "buy" rating and a $380.00 price target on the stock. Rosenblatt Securities lifted their price target on Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Loop Capital lifted their price target on Cadence Design Systems from $340.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. raised Cadence Design Systems from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $300.00 to $325.00 in a research report on Thursday, April 24th. Finally, Bank of America boosted their target price on Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems has a consensus rating of "Moderate Buy" and an average target price of $332.57.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on 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 directly owned 8,010 shares in the company, valued at approximately $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James D. Plummer sold 868 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $319.95, for a total value of $277,716.60. Following the sale, the director owned 23,996 shares in the company, valued at approximately $7,677,520.20. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,795 shares of company stock valued at $6,065,087 in the last 90 days. 1.99% of the stock is owned by corporate insiders.

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.