Cornerstone Capital Management Holdings LLC. Has $13.92 Million Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Cornerstone Capital Management Holdings LLC. boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 44.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 415,534 shares of the software maker’s stock after purchasing an additional 128,597 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.15% of Cadence Design Systems worth $13,916,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Creative Planning increased its stake in Cadence Design Systems by 242.2% during the 2nd quarter. Creative Planning now owns 3,282 shares of the software maker’s stock valued at $110,000 after buying an additional 2,323 shares during the period. Commonwealth Bank of Australia increased its stake in Cadence Design Systems by 36.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,852 shares of the software maker’s stock valued at $161,000 after buying an additional 1,300 shares during the period. Tocqueville Asset Management L.P. acquired a new position in Cadence Design Systems during the 2nd quarter valued at about $206,000. Affinity Wealth Management acquired a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $212,000. Finally, Atria Investments LLC acquired a new position in shares of Cadence Design Systems in the 2nd quarter worth approximately $231,000. Hedge funds and other institutional investors own 84.24% of the company’s stock.

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In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $37.18, for a total value of $3,718,000.00. Following the completion of the sale, the chief executive officer now owns 583,332 shares in the company, valued at approximately $21,688,283.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Geoffrey G. Ribar sold 35,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $37.31, for a total value of $1,305,850.00. Following the completion of the sale, the chief financial officer now owns 204,413 shares of the company’s stock, valued at approximately $7,626,649.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 217,036 shares of company stock valued at $7,958,150. Company insiders own 2.55% of the company’s stock.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) traded down 0.52% during midday trading on Tuesday, reaching $41.75. 234,550 shares of the company’s stock traded hands. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 48.55 and a beta of 0.93. Cadence Design Systems, Inc. has a 52-week low of $24.15 and a 52-week high of $42.20. The stock has a 50 day moving average of $39.11 and a 200-day moving average of $35.42.

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

Several research firms have recently weighed in on CDNS. Royal Bank Of Canada restated a “buy” rating on shares of Cadence Design Systems in a report on Friday, July 7th. Credit Suisse Group reiterated an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday, August 31st. BidaskClub cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Thursday, July 27th. Finally, Bank of America Corporation lifted their price target on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.60.

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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