Diversified Trust Co Has $1.55 Million Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Diversified Trust Co grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,969 shares of the software maker’s stock after buying an additional 237 shares during the quarter. Diversified Trust Co’s holdings in Cadence Design Systems were worth $1,547,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Cadence Design Systems in the 4th quarter valued at approximately $1,141,059,000. Nordea Investment Management AB grew its position in shares of Cadence Design Systems by 124.8% in the 4th quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock valued at $515,995,000 after buying an additional 1,052,228 shares during the last quarter. Wellington Management Group LLP increased its stake 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 buying an additional 962,987 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Cadence Design Systems by 261.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 620,561 shares of the software maker’s stock worth $169,022,000 after acquiring an additional 448,918 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Cadence Design Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 24,503,455 shares of the software maker’s stock worth $6,674,006,000 after acquiring an additional 384,637 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. KeyCorp boosted their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a report on Friday, May 17th. Robert W. Baird boosted their price objective on Cadence Design Systems from $302.00 to $322.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Finally, Bank of America raised their target price on Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $332.78.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $309.09, for a total value of $463,635.00. Following the transaction, the director now owns 48,051 shares in the company, valued at $14,852,083.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $295.00, for a total value of $191,750.00. Following the completion of the sale, the vice president now directly owns 66,494 shares of the company’s stock, valued at approximately $19,615,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $309.09, for a total transaction of $463,635.00. Following the transaction, the director now directly owns 48,051 shares in the company, valued at approximately $14,852,083.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,534 shares of company stock worth $11,735,433. Insiders own 0.62% of the company’s stock.

Cadence Design Systems Stock Up 0.6 %

Shares of NASDAQ:CDNS traded up $1.83 during trading on Monday, reaching $309.58. 561,288 shares of the stock were exchanged, compared to its average volume of 1,554,434. Cadence Design Systems, Inc. has a 1-year low of $217.77 and a 1-year high of $328.99. The stock has a fifty day moving average of $294.50 and a two-hundred day moving average of $293.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19. The firm has a market cap of $84.34 billion, a price-to-earnings ratio of 80.14, a price-to-earnings-growth ratio of 3.77 and a beta of 1.03.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.02 earnings per share. Research analysts anticipate that Cadence Design Systems, Inc. will post 4.77 earnings per share 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.