UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.08 Billion Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,988,851 shares of the software maker’s stock after purchasing an additional 37,452 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cadence Design Systems were worth $1,081,098,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. ORG Partners LLC raised its position in Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Missouri Trust & Investment Co acquired a new position in shares of Cadence Design Systems in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in Cadence Design Systems in the 3rd quarter valued at approximately $28,000. Chilton Capital Management LLC boosted its position in Cadence Design Systems by 244.0% during the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock worth $53,000 after buying an additional 122 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Cadence Design Systems by 159.7% during the 2nd quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock worth $62,000 after acquiring an additional 123 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $304.68 on Thursday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The company has a fifty day moving average of $280.77 and a 200-day moving average of $284.12. The firm has a market capitalization of $83.56 billion, a P/E ratio of 79.97, a P/E/G ratio of 4.24 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, SVP Karna Nisewaner sold 659 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total transaction of $181,870.82. Following the completion of the sale, the senior vice president now owns 16,029 shares in the company, valued at approximately $4,423,683.42. The trade was a 3.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the transaction, the vice president now directly owns 61,111 shares in the company, valued at $16,866,636. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,634 shares of company stock valued at $1,558,535. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CDNS has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Oppenheimer assumed coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price for the company. Wells Fargo & Company began coverage on Cadence Design Systems in a research report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target on the stock. Needham & Company LLC lowered their price objective on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Loop Capital started coverage on Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $326.00.

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 logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.