Cadence Design Systems Inc (NASDAQ:CDNS) Shares Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP increased its holdings in shares of Cadence Design Systems Inc (NASDAQ:CDNS) by 8.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 210,431 shares of the software maker’s stock after acquiring an additional 17,104 shares during the period. Artemis Investment Management LLP owned approximately 0.07% of Cadence Design Systems worth $14,588,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Shine Investment Advisory Services Inc. grew its position in shares of Cadence Design Systems by 50.5% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 453 shares of the software maker’s stock valued at $30,000 after acquiring an additional 152 shares during the period. Wetherby Asset Management Inc. grew its position in shares of Cadence Design Systems by 2.3% during the 3rd quarter. Wetherby Asset Management Inc. now owns 6,886 shares of the software maker’s stock valued at $455,000 after acquiring an additional 157 shares during the period. Shilanski & Associates Inc. grew its position in shares of Cadence Design Systems by 1.6% during the 3rd quarter. Shilanski & Associates Inc. now owns 10,969 shares of the software maker’s stock valued at $725,000 after acquiring an additional 174 shares during the period. Tocqueville Asset Management L.P. grew its position in shares of Cadence Design Systems by 1.6% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 11,396 shares of the software maker’s stock valued at $753,000 after acquiring an additional 177 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Cadence Design Systems by 1.0% during the 3rd quarter. Empowered Funds LLC now owns 17,961 shares of the software maker’s stock valued at $1,187,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 85.74% of the company’s stock.

Shares of Cadence Design Systems stock opened at $72.61 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $69.58 and its 200 day moving average price is $69.01. Cadence Design Systems Inc has a twelve month low of $44.44 and a twelve month high of $77.08. The firm has a market capitalization of $20.49 billion, a PE ratio of 59.03, a P/E/G ratio of 4.33 and a beta of 1.15.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 21st. The software maker reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.03. Cadence Design Systems had a net margin of 18.54% and a return on equity of 30.74%. The business had revenue of $579.60 million for the quarter, compared to analyst estimates of $576.33 million. During the same period last year, the company posted $0.49 EPS. The business’s revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts predict that Cadence Design Systems Inc will post 1.51 EPS for the current fiscal year.

In other Cadence Design Systems news, Director John B. Shoven sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $73.19, for a total value of $3,659,500.00. Following the transaction, the director now directly owns 205,781 shares of the company’s stock, valued at approximately $15,061,111.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Surendra Babu Mandava sold 3,623 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $66.46, for a total transaction of $240,784.58. Following the completion of the transaction, the vice president now directly owns 296,137 shares in the company, valued at $19,681,265.02. The disclosure for this sale can be found here. Insiders sold a total of 267,486 shares of company stock worth $18,647,763 over the last three months. Corporate insiders own 2.34% of the company’s stock.

A number of research analysts recently weighed in on CDNS shares. Bank of America started coverage on shares of Cadence Design Systems in a research note on Monday, September 23rd. They issued a “neutral” rating and a $73.00 price target on the stock. ValuEngine lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co raised shares of Cadence Design Systems from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Friday, October 11th. BidaskClub raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Friday, January 10th. Finally, Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research note on Tuesday, December 24th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Cadence Design Systems presently has an average rating of “Hold” and an average target price of $75.75.

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 simulation platform; Palladium Z1, an enterprise emulation platform; and Protium S1 field-programmable gate array prototyping platform.

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

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