CENTRAL TRUST Co grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 47.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 813 shares of the software maker’s stock after buying an additional 260 shares during the period. CENTRAL TRUST Co’s holdings in Cadence Design Systems were worth $171,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in CDNS. Norges Bank purchased a new stake in shares of Cadence Design Systems in the 4th quarter valued at approximately $770,945,000. Price T Rowe Associates Inc. MD grew its stake in shares of Cadence Design Systems by 98.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,419,304 shares of the software maker’s stock valued at $885,753,000 after buying an additional 2,685,677 shares during the period. Alliancebernstein L.P. grew its stake in shares of Cadence Design Systems by 620.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,954,303 shares of the software maker’s stock valued at $474,579,000 after buying an additional 2,543,966 shares during the period. Moneta Group Investment Advisors LLC purchased a new stake in shares of Cadence Design Systems in the 4th quarter valued at approximately $227,854,000. Finally, Jennison Associates LLC grew its stake in shares of Cadence Design Systems by 7,548.5% in the 4th quarter. Jennison Associates LLC now owns 1,039,659 shares of the software maker’s stock valued at $167,011,000 after buying an additional 1,026,066 shares during the period. Hedge funds and other institutional investors own 83.62% of the company’s stock.
Insider Transactions at Cadence Design Systems
In other news, VP Thomas P. Beckley sold 76,003 shares of Cadence Design Systems stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $209.33, for a total transaction of $15,909,707.99. Following the completion of the sale, the vice president now directly owns 185,761 shares of the company’s stock, valued at approximately $38,885,350.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Thomas P. Beckley sold 76,003 shares of Cadence Design Systems stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $209.33, for a total transaction of $15,909,707.99. Following the completion of the sale, the vice president now directly owns 185,761 shares of the company’s stock, valued at approximately $38,885,350.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Chin-Chi Teng sold 12,858 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $239.54, for a total transaction of $3,080,005.32. Following the completion of the sale, the vice president now directly owns 126,165 shares of the company’s stock, valued at $30,221,564.10. The disclosure for this sale can be found here. In the last three months, insiders sold 204,161 shares of company stock valued at $43,077,117. Insiders own 1.99% of the company’s stock.
Wall Street Analyst Weigh In
Cadence Design Systems Stock Performance
Shares of CDNS stock opened at $234.52 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.44 and a debt-to-equity ratio of 0.22. Cadence Design Systems, Inc. has a 52 week low of $138.76 and a 52 week high of $242.65. The stock has a market capitalization of $63.95 billion, a PE ratio of 74.93, a P/E/G ratio of 2.94 and a beta of 1.06. The firm has a 50 day moving average of $219.59 and a two-hundred day moving average of $199.69.
Cadence Design Systems (NASDAQ:CDNS – Free Report) last released its quarterly earnings data on Monday, April 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Cadence Design Systems had a net margin of 23.24% and a return on equity of 33.80%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. On average, research analysts predict that Cadence Design Systems, Inc. will post 3.98 EPS for the current fiscal year.
About Cadence Design Systems
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.
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