Cadence Design Systems, Inc. (CDNS) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 31.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,926 shares of the software maker’s stock after buying an additional 12,064 shares during the period. Teacher Retirement System of Texas’ holdings in Cadence Design Systems were worth $1,971,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of Cadence Design Systems by 73,454.0% during the 2nd quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock worth $693,303,000 after purchasing an additional 20,673,635 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $2,170,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of Cadence Design Systems by 490.3% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 45,258 shares of the software maker’s stock worth $1,516,000 after purchasing an additional 37,591 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Cadence Design Systems by 134.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 204,187 shares of the software maker’s stock worth $6,838,000 after purchasing an additional 117,005 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Cadence Design Systems by 89.7% during the 2nd quarter. First Trust Advisors LP now owns 460,774 shares of the software maker’s stock worth $15,431,000 after purchasing an additional 217,889 shares in the last quarter. 83.48% of the stock is owned by institutional investors.

In other Cadence Design Systems news, VP James J. Cowie sold 5,036 shares of Cadence Design Systems stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $37.21, for a total value of $187,389.56. Following the transaction, the vice president now owns 82,082 shares in the company, valued at approximately $3,054,271.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lip Bu Tan sold 100,000 shares of Cadence Design Systems stock in a transaction on Monday, October 16th. The shares were sold at an average price of $41.97, for a total transaction of $4,197,000.00. Following the completion of the transaction, the chief executive officer now owns 445,833 shares in the company, valued at approximately $18,711,611.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,260 shares of company stock worth $9,133,632. 2.55% of the stock is owned by company insiders.

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Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at $44.85 on Tuesday. The firm has a market cap of $12,690.00, a price-to-earnings ratio of 47.94, a price-to-earnings-growth ratio of 3.52 and a beta of 0.94. Cadence Design Systems, Inc. has a 1-year low of $24.15 and a 1-year high of $45.39. The company has a quick ratio of 1.72, a current ratio of 1.79 and a debt-to-equity ratio of 0.64.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. Cadence Design Systems’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. equities research analysts expect that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current year.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, November 1st. DA Davidson lifted their target price on shares of Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, October 29th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $46.00 target price on shares of Cadence Design Systems in a research note on Friday, October 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.60.

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).

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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