NorthCoast Asset Management LLC lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 21.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 109,514 shares of the software maker’s stock after purchasing an additional 19,489 shares during the quarter. NorthCoast Asset Management LLC’s holdings in Cadence Design Systems were worth $4,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of Cadence Design Systems by 75.4% in the 3rd quarter. Van ECK Associates Corp now owns 429,418 shares of the software maker’s stock worth $16,949,000 after purchasing an additional 184,580 shares during the last quarter. Norinchukin Bank The bought a new stake in shares of Cadence Design Systems in the 3rd quarter worth about $823,000. Macquarie Group Ltd. grew its holdings in shares of Cadence Design Systems by 22.8% in the 3rd quarter. Macquarie Group Ltd. now owns 121,325 shares of the software maker’s stock worth $4,790,000 after purchasing an additional 22,514 shares during the last quarter. Spectrum Management Group Inc. grew its holdings in Cadence Design Systems by 9.5% during the 3rd quarter. Spectrum Management Group Inc. now owns 28,522 shares of the software maker’s stock worth $1,126,000 after acquiring an additional 2,465 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Cadence Design Systems by 59.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,693,364 shares of the software maker’s stock worth $66,839,000 after acquiring an additional 630,135 shares during the last quarter. 83.48% of the stock is currently owned by institutional investors and hedge funds.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $41.97, for a total transaction of $4,197,000.00. Following the sale, the chief executive officer now directly owns 445,833 shares in the company, valued at approximately $18,711,611.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Aneel Zaman sold 32,255 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $44.32, for a total transaction of $1,429,541.60. Following the sale, the vice president now owns 217,497 shares in the company, valued at $9,639,467.04. The disclosure for this sale can be found here. Insiders sold a total of 210,224 shares of company stock worth $8,946,242 over the last quarter. 2.55% of the stock is currently owned by corporate insiders.

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Cadence Design Systems, Inc. (NASDAQ CDNS) opened at $45.00 on Friday. The stock has a market cap of $12,706.20, a PE ratio of 48.39, a PEG ratio of 3.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.79 and a quick ratio of 1.72. Cadence Design Systems, Inc. has a one year low of $24.15 and a one year high of $45.49.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Thursday, October 26th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $485.40 million for the quarter, compared to analyst estimates of $481.10 million. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. sell-side analysts expect that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current fiscal year.

A number of equities research analysts have commented on CDNS shares. BidaskClub raised shares of Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. DA Davidson increased their price objective on shares of Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Needham & Company LLC reissued a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Finally, Royal Bank Of Canada increased their price objective on shares of Cadence Design Systems from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Cadence Design Systems currently has a consensus rating of “Buy” and a consensus price target of $40.60.

About Cadence Design Systems

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

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

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