Advisor Group Holdings Inc. Has $18.69 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Advisor Group Holdings Inc. reduced its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Rating) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,340 shares of the software maker’s stock after selling 1,213 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Cadence Design Systems were worth $18,689,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cibc World Market Inc. increased its position in shares of Cadence Design Systems by 2.7% during the first quarter. Cibc World Market Inc. now owns 21,529 shares of the software maker’s stock worth $3,541,000 after acquiring an additional 571 shares in the last quarter. Prudential PLC bought a new stake in shares of Cadence Design Systems in the first quarter valued at about $1,160,000. Loomis Sayles & Co. L P grew its holdings in shares of Cadence Design Systems by 1,030.1% during the first quarter. Loomis Sayles & Co. L P now owns 2,780 shares of the software maker’s stock worth $457,000 after buying an additional 2,534 shares in the last quarter. Zions Bancorporation N.A. raised its position in Cadence Design Systems by 108.3% in the 1st quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock valued at $37,000 after buying an additional 117 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in Cadence Design Systems by 26.8% during the 1st quarter. NewEdge Advisors LLC now owns 16,231 shares of the software maker’s stock worth $2,669,000 after acquiring an additional 3,433 shares during the last quarter. Institutional investors own 84.06% of the company’s stock.

Insider Activity

In related news, VP Aneel Zaman sold 1,801 shares of Cadence Design Systems stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $195.35, for a total value of $351,825.35. Following the transaction, the vice president now directly owns 88,444 shares of the company’s stock, valued at $17,277,535.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cadence Design Systems news, CEO Anirudh Devgan sold 1,525 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $193.26, for a total transaction of $294,721.50. Following the transaction, the chief executive officer now directly owns 172,414 shares in the company, valued at approximately $33,320,729.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Aneel Zaman sold 1,801 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $195.35, for a total transaction of $351,825.35. Following the transaction, the vice president now owns 88,444 shares in the company, valued at approximately $17,277,535.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 368,660 shares of company stock valued at $75,934,298. Company insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. KeyCorp boosted their price objective on shares of Cadence Design Systems from $225.00 to $235.00 in a research report on Tuesday, April 25th. Rosenblatt Securities lifted their target price on Cadence Design Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft raised their price target on Cadence Design Systems from $222.00 to $230.00 in a research note on Wednesday, April 26th. Wells Fargo & Company upped their price objective on Cadence Design Systems from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 11th. Finally, Bank of America increased their price target on shares of Cadence Design Systems from $225.00 to $240.00 in a research note on Tuesday, April 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $220.80.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $224.49 on Friday. Cadence Design Systems, Inc. has a fifty-two week low of $138.76 and a fifty-two week high of $225.46. The stock has a market cap of $61.21 billion, a PE ratio of 71.72, a PEG ratio of 2.62 and a beta of 1.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.44. The firm’s fifty day moving average price is $208.69 and its two-hundred day moving average price is $187.23.

Cadence Design Systems (NASDAQ:CDNS – Get Rating) last posted its earnings results on Monday, April 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Cadence Design Systems had a return on equity of 33.80% and a net margin of 23.24%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. On average, equities analysts expect that Cadence Design Systems, Inc. will post 3.98 EPS for the current fiscal year.

Cadence Design Systems Profile

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Cadence Design Systems, Inc engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. It operates through the following geographical segments: United States, Other Americas, China, Other Asia, Europe, Middle East and Africa and Japan.