Nissay Asset Management Corp Japan ADV Has $38.14 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nissay Asset Management Corp Japan ADV decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 52.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,047 shares of the software maker's stock after selling 135,919 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Cadence Design Systems were worth $38,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. NorthRock Partners LLC lifted its stake in Cadence Design Systems by 65.2% during the fourth quarter. NorthRock Partners LLC now owns 3,367 shares of the software maker's stock worth $1,012,000 after purchasing an additional 1,329 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Cadence Design Systems by 6.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,080,928 shares of the software maker's stock worth $324,776,000 after purchasing an additional 69,456 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its stake in Cadence Design Systems by 20.8% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 11,413 shares of the software maker's stock valued at $3,429,000 after buying an additional 1,966 shares during the last quarter. Maytus Capital Management LLC purchased a new stake in Cadence Design Systems in the 4th quarter valued at $4,957,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cadence Design Systems by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 323,107 shares of the software maker's stock worth $97,092,000 after buying an additional 12,991 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $252.73, for a total value of $164,274.50. Following the completion of the sale, the vice president now directly owns 58,123 shares of the company's stock, valued at $14,689,425.79. This represents a 1.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Paul Scannell sold 4,710 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $300.00, for a total value of $1,413,000.00. Following the sale, the vice president now directly owns 28,442 shares in the company, valued at $8,532,600. The trade was a 14.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,577 shares of company stock worth $5,316,411 in the last ninety days. Insiders own 1.99% of the company's stock.

Cadence Design Systems Stock Performance

Shares of CDNS traded up $2.79 during mid-day trading on Friday, reaching $321.56. 1,574,219 shares of the company's stock traded hands, compared to its average volume of 1,973,130. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $328.99. The stock has a market capitalization of $87.80 billion, a P/E ratio of 83.31, a price-to-earnings-growth ratio of 3.88 and a beta of 1.04. The business's 50-day moving average price is $272.16 and its 200-day moving average price is $286.55. 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 (NASDAQ:CDNS - Get Free Report) last issued its earnings results 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 return on equity of 29.24% and a net margin of 22.74%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The business's quarterly revenue was up 23.1% compared to the same quarter last year. Equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CDNS. KeyCorp boosted their price objective on shares of Cadence Design Systems from $355.00 to $375.00 and gave the company an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. raised Cadence Design Systems from a "neutral" rating to an "overweight" rating and upped their target price for the company from $300.00 to $325.00 in a report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $325.00 target price on shares of Cadence Design Systems in a report on Tuesday. Wells Fargo & Company raised their price objective on Cadence Design Systems from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Rosenblatt Securities upped their price target on Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $325.23.

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.