SageView Advisory Group LLC Has $382,000 Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

SageView Advisory Group LLC grew its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 22.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,271 shares of the software maker’s stock after purchasing an additional 229 shares during the period. SageView Advisory Group LLC’s holdings in Cadence Design Systems were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Cadence Design Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,909,187 shares of the software maker’s stock valued at $7,784,674,000 after purchasing an additional 201,340 shares in the last quarter. Jennison Associates LLC boosted its position in Cadence Design Systems by 5.3% during the 4th quarter. Jennison Associates LLC now owns 8,010,251 shares of the software maker’s stock worth $2,406,760,000 after buying an additional 404,076 shares during the period. FMR LLC grew its holdings in Cadence Design Systems by 8.7% during the 4th quarter. FMR LLC now owns 7,978,652 shares of the software maker’s stock worth $2,397,266,000 after acquiring an additional 639,146 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cadence Design Systems by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,021,405 shares of the software maker’s stock valued at $1,806,019,000 after acquiring an additional 135,251 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Cadence Design Systems by 12.5% in the fourth quarter. Alliancebernstein L.P. now owns 5,676,194 shares of the software maker’s stock worth $1,705,469,000 after purchasing an additional 632,175 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $264.31 on Wednesday. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $259.82 and a two-hundred day simple moving average of $282.29. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $328.99. The firm has a market capitalization of $72.50 billion, a PE ratio of 68.47, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CDNS. Bank of America reduced their price target on Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Mizuho dropped their target price on shares of Cadence Design Systems from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Tuesday. Loop Capital decreased their price target on Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $325.00 target price on shares of Cadence Design Systems in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $320.67.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $252.73, for a total transaction of $164,274.50. Following the completion of the sale, the vice president now owns 58,123 shares in the company, valued at approximately $14,689,425.79. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,950 shares of company stock valued at $518,499 over the last ninety days. 1.99% of the stock is currently owned by insiders.

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.