Yousif Capital Management LLC Has $10.63 Million Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Yousif Capital Management LLC increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,022 shares of the software maker’s stock after buying an additional 2,372 shares during the quarter. Yousif Capital Management LLC’s holdings in Cadence Design Systems were worth $10,628,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CDNS. Nordea Investment Management AB grew its position in Cadence Design Systems by 124.8% during the fourth quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock worth $515,995,000 after buying an additional 1,052,228 shares in the last quarter. Wellington Management Group LLP grew its position in Cadence Design Systems by 143.3% during the third quarter. Wellington Management Group LLP now owns 1,634,920 shares of the software maker’s stock worth $383,062,000 after buying an additional 962,987 shares in the last quarter. Jennison Associates LLC grew its position in Cadence Design Systems by 8.7% during the third quarter. Jennison Associates LLC now owns 7,047,231 shares of the software maker’s stock worth $1,651,166,000 after buying an additional 564,085 shares in the last quarter. Assenagon Asset Management S.A. grew its position in 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 buying an additional 448,918 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Cadence Design Systems by 26,060.9% during the fourth quarter. International Assets Investment Management LLC now owns 278,090 shares of the software maker’s stock worth $757,430,000 after purchasing an additional 277,027 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS traded down $4.10 during trading hours on Wednesday, reaching $277.66. The stock had a trading volume of 2,279,718 shares, compared to its average volume of 1,556,175. Cadence Design Systems, Inc. has a 12 month low of $194.01 and a 12 month high of $327.36. The stock has a market capitalization of $75.59 billion, a PE ratio of 72.41, a PEG ratio of 3.47 and a beta of 1.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24. The company’s 50-day moving average is $304.84 and its two-hundred day moving average is $280.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a return on equity of 33.53% and a net margin of 25.68%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company earned $1.02 EPS. Cadence Design Systems’s revenue was down 1.2% compared to the same quarter last year. Research analysts expect that Cadence Design Systems, Inc. will post 4.81 EPS for the current year.

Insider Buying and Selling

In related news, VP Thomas P. Beckley sold 65,268 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the transaction, the vice president now directly owns 156,156 shares of the company’s stock, valued at approximately $46,375,208.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Thomas P. Beckley sold 65,268 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the transaction, the vice president now directly owns 156,156 shares of the company’s stock, valued at approximately $46,375,208.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $299.42, for a total value of $449,130.00. Following the transaction, the director now directly owns 53,183 shares of the company’s stock, valued at $15,924,053.86. The disclosure for this sale can be found here. Insiders sold a total of 173,044 shares of company stock valued at $52,231,207 in the last three months. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent analyst reports. KeyCorp upped their target price on Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Rosenblatt Securities restated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research note on Monday. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a research note on Friday, April 19th. Robert W. Baird upped their target price on Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company upped their target price on Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.50.

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 logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.