Vontobel Holding Ltd. Has $68.24 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Vontobel Holding Ltd. increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,303 shares of the software maker's stock after acquiring an additional 10,178 shares during the period. Vontobel Holding Ltd. owned about 0.10% of Cadence Design Systems worth $68,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Cadence Design Systems during the 1st quarter worth about $25,000. Valley National Advisers Inc. increased its holdings in Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after buying an additional 99 shares during the last quarter. Ancora Advisors LLC raised its position in Cadence Design Systems by 1,400.0% during the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock valued at $36,000 after acquiring an additional 112 shares in the last quarter. Avalon Trust Co acquired a new stake in Cadence Design Systems in the fourth quarter valued at approximately $39,000. Finally, OFI Invest Asset Management acquired a new stake in Cadence Design Systems in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Cadence Design Systems from $355.00 to $375.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Bank of America raised 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. JPMorgan Chase & Co. upgraded Cadence Design Systems from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $300.00 to $325.00 in a research note on Thursday, April 24th. Rosenblatt Securities increased their price objective on Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company raised their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $325.23.

Insiders Place Their Bets

In other news, CEO Anirudh Devgan sold 10,737 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $310.00, for a total value of $3,328,470.00. Following the completion of the transaction, the chief executive officer directly owned 209,548 shares of the company's stock, valued at approximately $64,959,880. This represents a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Paul Scannell sold 4,710 shares of the business's stock in a transaction 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 completion of the sale, the vice president directly owned 28,442 shares in the company, valued at approximately $8,532,600. This represents a 14.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,975 shares of company stock valued at $5,808,237 over the last 90 days. Company insiders own 0.37% of the company's stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $308.15 on Tuesday. 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 one year low of $221.56 and a one year high of $326.19. The company has a fifty day moving average price of $301.86 and a 200 day moving average price of $286.36. The stock has a market cap of $84.14 billion, a P/E ratio of 78.01, a PEG ratio of 4.23 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.07. Cadence Design Systems had a net margin of 22.18% and a return on equity of 29.36%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The firm's revenue for the quarter was up 23.1% on a year-over-year basis. Analysts anticipate 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.

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