Teachers Retirement System of The State of Kentucky lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,319 shares of the software maker’s stock after selling 6,657 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of Cadence Design Systems worth $6,526,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Caxton Associates LP grew its stake in Cadence Design Systems by 0.6% in the 2nd quarter. Caxton Associates LP now owns 15,900 shares of the software maker’s stock valued at $532,000 after purchasing an additional 100 shares during the period. Wetherby Asset Management Inc. grew its stake in Cadence Design Systems by 1.2% in the 2nd quarter. Wetherby Asset Management Inc. now owns 9,581 shares of the software maker’s stock valued at $321,000 after purchasing an additional 109 shares during the period. PNC Financial Services Group Inc. grew its stake in Cadence Design Systems by 6.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,130 shares of the software maker’s stock valued at $338,000 after purchasing an additional 612 shares during the period. World Asset Management Inc grew its stake in Cadence Design Systems by 3.2% in the 2nd quarter. World Asset Management Inc now owns 20,369 shares of the software maker’s stock valued at $682,000 after purchasing an additional 628 shares during the period. Finally, Janney Capital Management LLC grew its stake in Cadence Design Systems by 8.9% in the 2nd quarter. Janney Capital Management LLC now owns 7,820 shares of the software maker’s stock valued at $261,000 after purchasing an additional 641 shares during the period. Institutional investors and hedge funds own 83.48% of the company’s stock.

In other news, VP Aneel Zaman sold 32,255 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 217,497 shares of the company’s stock, valued at approximately $9,639,467.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 750 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $40.68, for a total value of $30,510.00. The disclosure for this sale can be found here. Insiders have sold a total of 195,224 shares of company stock worth $8,382,992 in the last ninety days. Insiders own 2.55% of the company’s stock.

Cadence Design Systems, Inc. (NASDAQ:CDNS) opened at $45.60 on Monday. Cadence Design Systems, Inc. has a 1 year low of $24.15 and a 1 year high of $45.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.79. The company has a market capitalization of $12,880.00, a price-to-earnings ratio of 49.03, a PEG ratio of 3.60 and a beta of 0.94.

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

A number of research analysts have issued reports on the company. BidaskClub upgraded Cadence Design Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. DA Davidson upped their price objective on Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating on shares of Cadence Design Systems in a research note on Thursday, August 31st. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, November 1st. Finally, Royal Bank Of Canada upped their price objective on Cadence Design Systems from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.60.

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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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