Universal Beteiligungs und Servicegesellschaft mbH Invests $75.21 Million in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 250,299 shares of the software maker's stock, valued at approximately $75,205,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Cadence Design Systems as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in Cadence Design Systems by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 2,237,569 shares of the software maker's stock worth $672,300,000 after acquiring an additional 216,075 shares during the period. Pittenger & Anderson Inc. lifted its position in shares of Cadence Design Systems by 50.1% in the 4th quarter. Pittenger & Anderson Inc. now owns 5,289 shares of the software maker's stock worth $1,589,000 after purchasing an additional 1,766 shares during the period. Meridiem Investment Management Ltd. boosted its stake in shares of Cadence Design Systems by 64.3% during the 4th quarter. Meridiem Investment Management Ltd. now owns 783,906 shares of the software maker's stock valued at $235,625,000 after purchasing an additional 306,887 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Cadence Design Systems by 80.6% during the fourth 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cadence Design Systems by 4.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 209,463 shares of the software maker's stock worth $62,935,000 after buying an additional 8,570 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Cadence Design Systems from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $300.00 to $325.00 in a report on Thursday, April 24th. Oppenheimer reduced their price target on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a research note on Wednesday, March 19th. Bank of America raised their price objective on Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. KeyCorp upped their target price on shares of Cadence Design Systems from $355.00 to $375.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Finally, Mizuho lifted their price target on shares of Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $325.23.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS traded down $34.47 during midday trading on Wednesday, reaching $288.61. 6,988,542 shares of the company's stock traded hands, compared to its average volume of 2,001,357. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $328.99. The company has a market cap of $78.80 billion, a price-to-earnings ratio of 74.77, a P/E/G ratio of 3.88 and a beta of 1.04. The stock has a 50 day moving average of $282.17 and a 200 day moving average of $287.85.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results 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 net margin of 22.74% and a return on equity of 29.24%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the prior year, the business earned $1.17 EPS. The business's revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, equities research analysts anticipate 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 Cadence Design Systems news, VP Paul Scannell sold 4,710 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $300.00, for a total value of $1,413,000.00. Following the transaction, the vice president now directly owns 28,442 shares in the company, valued at approximately $8,532,600. This trade represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $252.73, for a total transaction of $164,274.50. Following the transaction, the vice president now owns 58,123 shares in the company, valued at $14,689,425.79. This represents a 1.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,445 shares of company stock worth $5,594,127. Insiders own 1.99% of the company's stock.

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.