Natixis Investment Managers International Has $267,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Natixis Investment Managers International lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 858 shares of the software maker’s stock after purchasing an additional 91 shares during the quarter. Natixis Investment Managers International’s holdings in Cadence Design Systems were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CDNS. Pitcairn Co. boosted its holdings in shares of Cadence Design Systems by 2.8% in the first quarter. Pitcairn Co. now owns 9,862 shares of the software maker’s stock worth $3,070,000 after buying an additional 265 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cadence Design Systems in the 1st quarter worth approximately $26,030,000. CANADA LIFE ASSURANCE Co grew its position in Cadence Design Systems by 0.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 384,895 shares of the software maker’s stock worth $119,856,000 after purchasing an additional 3,406 shares in the last quarter. American International Group Inc. raised its stake in Cadence Design Systems by 2.8% during the 1st quarter. American International Group Inc. now owns 108,809 shares of the software maker’s stock valued at $33,870,000 after purchasing an additional 3,005 shares during the period. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Cadence Design Systems by 12.6% in the first quarter. Lake Street Advisors Group LLC now owns 2,212 shares of the software maker’s stock valued at $689,000 after purchasing an additional 248 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of research analyst reports. KeyCorp lifted their price target on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research report on Monday, April 22nd. 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. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler restated a “neutral” rating and set a $318.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $334.56.

Cadence Design Systems Stock Down 3.0 %

Shares of CDNS stock traded down $7.96 on Thursday, hitting $258.38. The company’s stock had a trading volume of 3,482,333 shares, compared to its average volume of 1,616,895. 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 stock has a market capitalization of $70.39 billion, a price-to-earnings ratio of 67.29, a P/E/G ratio of 3.46 and a beta of 1.03. Cadence Design Systems, Inc. has a fifty-two week low of $217.77 and a fifty-two week high of $328.99. The firm’s fifty day moving average price is $301.72 and its 200-day moving average price is $297.83.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a return on equity of 31.52% and a net margin of 25.36%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Research analysts anticipate that Cadence Design Systems, Inc. will post 4.77 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $275,360.00. Following the completion of the transaction, the vice president now owns 67,144 shares of the company’s stock, valued at approximately $18,488,771.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total value of $275,360.00. Following the sale, the vice president now owns 67,144 shares of the company’s stock, valued at approximately $18,488,771.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Karna Nisewaner sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total value of $165,216.00. Following the transaction, the senior vice president now owns 20,480 shares of the company’s stock, valued at $5,639,372.80. The disclosure for this sale can be found here. Insiders have sold a total of 50,134 shares of company stock worth $14,987,093 over the last 90 days. Insiders own 1.99% of the company’s stock.

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.