Cadence Design Systems, Inc. (NASDAQ:CDNS) Stake Raised by National Bank of Canada FI

National Bank of Canada FI increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 50.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,188 shares of the software maker's stock after purchasing an additional 87,514 shares during the quarter. National Bank of Canada FI owned 0.10% of Cadence Design Systems worth $68,666,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Jennison Associates LLC raised its position in shares of Cadence Design Systems by 8.7% in the third quarter. Jennison Associates LLC now owns 7,047,231 shares of the software maker's stock worth $1,651,166,000 after acquiring an additional 564,085 shares during the period. Northern Trust Corp boosted its holdings in Cadence Design Systems by 5.6% in the 3rd quarter. Northern Trust Corp now owns 2,995,849 shares of the software maker's stock worth $701,927,000 after buying an additional 158,031 shares during the last quarter. Invesco Ltd. increased its stake in Cadence Design Systems by 4.9% during the 3rd quarter. Invesco Ltd. now owns 2,012,292 shares of the software maker's stock worth $471,480,000 after buying an additional 93,984 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Cadence Design Systems by 124.8% during the fourth quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker's stock valued at $515,995,000 after acquiring an additional 1,052,228 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Cadence Design Systems by 143.3% in the third quarter. Wellington Management Group LLP now owns 1,634,920 shares of the software maker's stock valued at $383,062,000 after acquiring an additional 962,987 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and set a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, April 22nd. KeyCorp upped their price objective on shares of Cadence Design Systems from $335.00 to $340.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 16th. StockNews.com cut Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on Cadence Design Systems from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $326.11.

Insider Activity at Cadence Design Systems

In other news, VP Thomas P. Beckley sold 65,268 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total value of $19,383,290.64. Following the completion of the sale, the vice president now directly owns 156,156 shares of the company's stock, valued at approximately $46,375,208.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cadence Design Systems news, VP Aneel Zaman sold 1,207 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total transaction of $366,807.30. Following the completion of the transaction, the vice president now owns 61,150 shares of the company's stock, valued at $18,583,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Beckley sold 65,268 shares of Cadence Design Systems stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $296.98, for a total value of $19,383,290.64. Following the sale, the vice president now owns 156,156 shares of the company's stock, valued at approximately $46,375,208.88. The disclosure for this sale can be found here. Insiders have sold a total of 174,566 shares of company stock worth $52,649,105 in the last three months. Insiders own 1.99% of the company's stock.

Cadence Design Systems Trading Up 1.9 %

Shares of CDNS traded up $5.19 during midday trading on Friday, hitting $281.63. 1,371,195 shares of the stock were exchanged, compared to its average volume of 1,806,029. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.19 and a current ratio of 1.32. Cadence Design Systems, Inc. has a 52-week low of $198.92 and a 52-week high of $327.36. The firm has a market cap of $76.64 billion, a P/E ratio of 73.34, a P/E/G ratio of 3.32 and a beta of 1.06. The stock has a fifty day simple moving average of $302.02 and a 200 day simple moving average of $282.59.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. Cadence Design Systems's revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 4.78 EPS for the current fiscal 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.