NASDAQ:CDNS - Cadence Design Systems Stock Price, Price Target & More

Cadence Design Systems trades on the NASDAQ under the ticker symbol "CDNS."

Cadence Design Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 12th 2017, which authorizes the company to repurchase $525,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to purchase up to 79% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Cadence Design Systems Inc (NASDAQ:CDNS) issued its earnings results on Monday, April, 23rd. The software maker reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. The software maker had revenue of $517 million for the quarter, compared to the consensus estimate of $505.33 million. Cadence Design Systems had a return on equity of 29.43% and a net margin of 10.52%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. View Cadence Design Systems' Earnings History.

Cadence Design Systems is scheduled to release their next quarterly earnings announcement on Monday, July, 23rd 2018. View Earnings Estimates for Cadence Design Systems.

Cadence Design Systems issued an update on its second quarter earnings guidance on Monday, April, 23rd. The company provided earnings per share guidance of $0.39-$0.41 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.38. The company issued revenue guidance of $510-$520 million, compared to the consensus revenue estimate of $505.47 million.

7 brokers have issued 12 month price targets for Cadence Design Systems' shares. Their predictions range from $41.00 to $47.00. On average, they expect Cadence Design Systems' share price to reach $43.6667 in the next year. This suggests that the stock has a possible downside of 3.3%. View Analyst Ratings for Cadence Design Systems.

7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cadence Design Systems in the last year. There are currently 1 sell rating, 2 hold ratings and 4 buy ratings for the stock, resulting in a consensus recommendation of "Hold."

Some companies that are related to Cadence Design Systems include Electronic Arts (EA), Dassault Systemes (DASTY), ServiceNow (NOW), Autodesk (ADSK), Square (SQ), CA (CA), Check Point Software Technologies (CHKP), Shopify (SHOP), Splunk (SPLK), ANSYS (ANSS), Citrix Systems (CTXS), TAKE-TWO INTERACTIVE SOFTWARE, INC Common Stock (TTWO), Mobileye (MBBYF), Synopsys (SNPS) and UBISOFT Entmt S/ADR (UBSFY).

News stories about CDNS stock have been trending somewhat positive on Friday, Accern Sentiment reports. The research firm ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Cadence Design Systems earned a daily sentiment score of 0.15 on Accern's scale. They also assigned media headlines about the software maker an impact score of 45.46 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company's share price in the next few days.

Cadence Design Systems' stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Peregrine Capital Management LLC (0.30%), Bank of Montreal Can (0.25%), Gateway Investment Advisers LLC (0.14%), NN Investment Partners Holdings N.V. (0.06%), Westpac Banking Corp (0.06%) and Retirement Systems of Alabama (0.05%). Company insiders that own Cadence Design Systems stock include Aneel Zaman, Anirudh Devgan, Geoffrey G Ribar, George Scalise, James J Cowie, John B Shoven, John M Wall, Lip Bu Tan, Roger S Siboni, Thomas P Beckley and Vincentelli Albert Sangiovanni. View Institutional Ownership Trends for Cadence Design Systems.

CDNS stock was sold by a variety of institutional investors in the last quarter, including Bank of Montreal Can, Peregrine Capital Management LLC, Pendal Group Ltd, Nisa Investment Advisors LLC, Municipal Employees Retirement System of Michigan, Capital One National Association, Hartford Investment Management Co. and Oakbrook Investments LLC. Company insiders that have sold Cadence Design Systems company stock in the last year include Aneel Zaman, Anirudh Devgan, Geoffrey G Ribar, James J Cowie, John B Shoven, John M Wall, Lip Bu Tan, Roger S Siboni and Thomas P Beckley. View Insider Buying and Selling for Cadence Design Systems.

CDNS stock was purchased by a variety of institutional investors in the last quarter, including Westpac Banking Corp, State of Alaska Department of Revenue, Highland Capital Management LLC, IFM Investors Pty Ltd, Amalgamated Bank, DnB Asset Management AS, Xact Kapitalforvaltning AB and Fjarde AP Fonden Fourth Swedish National Pension Fund. View Insider Buying and Selling for Cadence Design Systems.

Shares of CDNS can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of CDNS stock can currently be purchased for approximately $45.14.

Cadence Design Systems has a market capitalization of $12.83 billion and generates $1.94 billion in revenue each year. The software maker earns $204.10 million in net income (profit) each year or $1.06 on an earnings per share basis. Cadence Design Systems employs 7,200 workers across the globe.

Cadence Design Systems' mailing address is 2655 SEELY AVENUE BLDG 5, SAN JOSE CA, 95134. The software maker can be reached via phone at 408-943-1234 or via email at [email protected]