Cadence Design Systems, Inc. (CDNS) Position Boosted by American Century Companies Inc.

American Century Companies Inc. lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,439 shares of the software maker’s stock after purchasing an additional 1,108 shares during the quarter. American Century Companies Inc. owned 0.07% of Cadence Design Systems worth $6,880,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CDNS. Victory Capital Management Inc. lifted its holdings in Cadence Design Systems by 0.3% in the 1st quarter. Victory Capital Management Inc. now owns 39,348 shares of the software maker’s stock valued at $1,236,000 after purchasing an additional 105 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in shares of Cadence Design Systems by 1.2% during the 2nd quarter. Wetherby Asset Management Inc. now owns 9,581 shares of the software maker’s stock worth $321,000 after acquiring an additional 109 shares during the period. Advantus Capital Management Inc raised its holdings in shares of Cadence Design Systems by 0.3% during the 1st quarter. Advantus Capital Management Inc now owns 35,693 shares of the software maker’s stock worth $1,121,000 after acquiring an additional 112 shares during the period. Capstone Asset Management Co. raised its holdings in shares of Cadence Design Systems by 1.0% during the 2nd quarter. Capstone Asset Management Co. now owns 27,461 shares of the software maker’s stock worth $920,000 after acquiring an additional 260 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Cadence Design Systems by 1.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,277 shares of the software maker’s stock worth $794,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 84.27% of the company’s stock.

Cadence Design Systems, Inc. (NASDAQ CDNS) opened at 38.03 on Friday. Cadence Design Systems, Inc. has a one year low of $24.15 and a one year high of $39.49. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 44.22 and a beta of 0.92. The company’s 50-day moving average price is $37.32 and its 200-day moving average price is $34.13.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The firm had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $476.21 million. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. On average, analysts anticipate that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

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A number of analysts recently issued reports on the company. Credit Suisse Group reissued an “outperform” rating on shares of Cadence Design Systems in a research report on Thursday, August 31st. BidaskClub upgraded Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Thursday, July 27th. Bank of America Corporation boosted their target price on Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada boosted their price objective on Cadence Design Systems from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Cadence Design Systems has a consensus rating of “Buy” and a consensus price target of $33.67.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $34.68, for a total transaction of $3,468,000.00. Following the completion of the sale, the chief executive officer now directly owns 583,332 shares in the company, valued at $20,229,953.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Geoffrey G. Ribar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $36.88, for a total transaction of $184,400.00. Following the transaction, the chief financial officer now directly owns 174,413 shares in the company, valued at $6,432,351.44. The disclosure for this sale can be found here. Insiders sold a total of 316,286 shares of company stock valued at $11,395,640 in the last 90 days. 2.55% of the stock is owned by corporate insiders.

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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