NN Investment Partners Holdings N.V. Acquires 20,137 Shares of Cadence Design Systems, Inc. (CDNS)

NN Investment Partners Holdings N.V. raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1,059.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,037 shares of the software maker’s stock after buying an additional 20,137 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Cadence Design Systems were worth $738,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of Cadence Design Systems by 0.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker’s stock valued at $200,000 after buying an additional 31 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Cadence Design Systems during the first quarter valued at about $205,000. Atria Investments LLC acquired a new position in shares of Cadence Design Systems during the second quarter valued at about $231,000. Janney Capital Management LLC acquired a new position in shares of Cadence Design Systems during the first quarter valued at about $225,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Cadence Design Systems during the first quarter valued at about $240,000. 86.08% of the stock is currently owned by institutional investors.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) traded up 0.30% during midday trading on Friday, reaching $36.95. 967,720 shares of the company’s stock traded hands. The stock has a market capitalization of $10.35 billion, a P/E ratio of 42.97 and a beta of 0.94. Cadence Design Systems, Inc. has a 1-year low of $24.15 and a 1-year high of $37.70. The firm’s 50-day moving average price is $35.62 and its 200 day moving average price is $33.05.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Cadence Design Systems had a net margin of 12.86% and a return on equity of 27.81%. The business had revenue of $479 million during the quarter, compared to analysts’ expectations of $476.21 million. During the same quarter in the prior year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts predict that Cadence Design Systems, Inc. will post $1.39 earnings per share for the current fiscal year.

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Several equities analysts recently issued reports on the stock. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Bank of America Corporation raised their target price on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada restated a “buy” rating on shares of Cadence Design Systems in a research note on Friday, July 7th. Finally, DA Davidson downgraded shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $33.67.

In other news, VP James J. Cowie sold 44,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $33.09, for a total value of $1,455,960.00. Following the completion of the transaction, the vice president now owns 137,332 shares in the company, valued at approximately $4,544,315.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP James J. Cowie sold 55,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $33.28, for a total transaction of $1,830,400.00. Following the completion of the transaction, the vice president now owns 137,332 shares of the company’s stock, valued at approximately $4,570,408.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 505,250 shares of company stock valued at $17,545,110. Company insiders own 2.55% of the company’s stock.

About Cadence Design Systems

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

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

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