TIAA CREF Investment Management LLC increased its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,153,660 shares of the software maker’s stock after acquiring an additional 60,834 shares during the period. TIAA CREF Investment Management LLC’s holdings in Cadence Design Systems were worth $48,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its position in shares of Cadence Design Systems by 37.1% during the fourth quarter. Teachers Advisors LLC now owns 695,990 shares of the software maker’s stock worth $29,106,000 after buying an additional 188,510 shares during the period. Paloma Partners Management Co boosted its position in shares of Cadence Design Systems by 122.3% during the fourth quarter. Paloma Partners Management Co now owns 41,574 shares of the software maker’s stock worth $1,738,000 after buying an additional 22,869 shares during the period. California State Teachers Retirement System boosted its position in shares of Cadence Design Systems by 7.4% during the fourth quarter. California State Teachers Retirement System now owns 487,658 shares of the software maker’s stock worth $20,394,000 after buying an additional 33,428 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Cadence Design Systems by 3.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,075,810 shares of the software maker’s stock worth $254,090,000 after buying an additional 188,079 shares during the period. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Cadence Design Systems during the fourth quarter worth $1,266,000. Institutional investors and hedge funds own 86.73% of the company’s stock.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $44.69, for a total value of $1,117,250.00. Following the sale, the chief executive officer now directly owns 458,333 shares in the company, valued at $20,482,901.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Anirudh Devgan sold 44,526 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $45.01, for a total value of $2,004,115.26. Following the completion of the sale, the president now owns 377,019 shares in the company, valued at $16,969,625.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,110 shares of company stock worth $7,016,878. 2.55% of the stock is owned by insiders.

Shares of Cadence Design Systems stock opened at $38.35 on Thursday. The stock has a market capitalization of $10,737.71, a price-to-earnings ratio of 51.82, a PEG ratio of 3.71 and a beta of 1.08. The company has a quick ratio of 1.47, a current ratio of 1.53 and a debt-to-equity ratio of 0.65. Cadence Design Systems Inc has a 52 week low of $30.35 and a 52 week high of $46.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. Cadence Design Systems had a return on equity of 31.28% and a net margin of 10.50%. The company had revenue of $501.70 million for the quarter, compared to analysts’ expectations of $496.20 million. During the same period last year, the firm earned $0.34 earnings per share. Cadence Design Systems’s quarterly revenue was up 7.0% on a year-over-year basis. analysts anticipate that Cadence Design Systems Inc will post 0.85 EPS for the current year.

Several analysts have recently issued reports on the company. BidaskClub cut Cadence Design Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 13th. ValuEngine upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Credit Suisse Group reiterated a “neutral” rating and issued a $43.00 price objective (up from $37.00) on shares of Cadence Design Systems in a research note on Thursday, February 1st. Zacks Investment Research cut Cadence Design Systems from a “hold” rating to a “strong sell” rating in a research note on Monday, February 5th. Finally, KeyCorp reiterated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $44.20.

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Cadence Design Systems Company Profile

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).

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

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