Cadence Design Systems Inc (NASDAQ:CDNS) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC raised its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 783,224 shares of the software maker’s stock after acquiring an additional 7,185 shares during the period. Cadence Design Systems accounts for about 1.0% of Stephens Investment Management Group LLC’s holdings, making the stock its 27th biggest position. Stephens Investment Management Group LLC owned 0.28% of Cadence Design Systems worth $55,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC increased its holdings in shares of Cadence Design Systems by 217.9% during the 2nd quarter. CWM LLC now owns 445 shares of the software maker’s stock worth $32,000 after buying an additional 305 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Cadence Design Systems by 853.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 534 shares of the software maker’s stock worth $37,000 after buying an additional 478 shares during the last quarter. Harvest Group Wealth Management LLC acquired a new stake in shares of Cadence Design Systems during the 1st quarter worth $37,000. Parallel Advisors LLC increased its holdings in shares of Cadence Design Systems by 29.4% during the 1st quarter. Parallel Advisors LLC now owns 718 shares of the software maker’s stock worth $46,000 after buying an additional 163 shares during the last quarter. Finally, Ibex Wealth Advisors acquired a new stake in shares of Cadence Design Systems during the 2nd quarter worth $57,000. Institutional investors own 86.39% of the company’s stock.

Cadence Design Systems stock traded up $0.37 during trading on Thursday, reaching $68.10. 54,318 shares of the company’s stock were exchanged, compared to its average volume of 2,137,147. The business’s 50-day simple moving average is $73.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.52 and a current ratio of 1.60. Cadence Design Systems Inc has a 52-week low of $39.08 and a 52-week high of $77.08. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 55.41, a price-to-earnings-growth ratio of 4.21 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 22nd. The software maker reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $580.42 million during the quarter, compared to analysts’ expectations of $579.41 million. Cadence Design Systems had a net margin of 18.83% and a return on equity of 31.86%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. As a group, research analysts anticipate that Cadence Design Systems Inc will post 1.48 EPS for the current fiscal year.

A number of research firms have recently commented on CDNS. Credit Suisse Group upped their price objective on Cadence Design Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. ValuEngine cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Co began coverage on shares of Cadence Design Systems in a research report on Tuesday, May 14th. They set a “market perform” rating for the company. DA Davidson upped their price target on shares of Cadence Design Systems to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC upped their price target on shares of Cadence Design Systems to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Cadence Design Systems presently has an average rating of “Buy” and a consensus target price of $64.25.

In other Cadence Design Systems news, VP Aneel Zaman sold 4,766 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $68.25, for a total value of $325,279.50. Following the completion of the transaction, the vice president now directly owns 243,772 shares of the company’s stock, valued at approximately $16,637,439. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP James J. Cowie sold 1,251 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.83, for a total transaction of $88,608.33. Following the completion of the transaction, the vice president now directly owns 109,503 shares of the company’s stock, valued at $7,756,097.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,911 shares of company stock valued at $10,322,842. 2.34% of the stock is currently owned by corporate insiders.

Cadence Design Systems Company 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 simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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