Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,614 shares of the software maker’s stock after selling 18,961 shares during the period. Epoch Investment Partners Inc.’s holdings in Cadence Design Systems were worth $35,888,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ulland Investment Advisors LLC acquired a new position in Cadence Design Systems during the 1st quarter worth $25,000. RiverPark Advisors LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter valued at $26,000. ORG Partners LLC lifted its position in shares of Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares during the last quarter. Annapolis Financial Services LLC purchased a new position in Cadence Design Systems in the first quarter valued at $32,000. Finally, Hollencrest Capital Management raised its stake in Cadence Design Systems by 637.5% in the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity

In related news, VP Chin-Chi Teng sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $305.84, for a total transaction of $3,058,400.00. Following the completion of the transaction, the vice president now directly owns 95,408 shares of the company’s stock, valued at $29,179,582.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $307.75, for a total transaction of $184,650.00. Following the sale, the senior vice president now directly owns 19,280 shares in the company, valued at approximately $5,933,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chin-Chi Teng sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $305.84, for a total transaction of $3,058,400.00. Following the completion of the transaction, the vice president now owns 95,408 shares of the company’s stock, valued at approximately $29,179,582.72. The disclosure for this sale can be found here. Insiders have sold a total of 38,272 shares of company stock valued at $10,833,362 over the last quarter. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 2.4 %

CDNS opened at $273.76 on Monday. Cadence Design Systems, Inc. has a 52 week low of $227.05 and a 52 week high of $328.99. The business has a 50 day moving average price of $269.55 and a two-hundred day moving average price of $290.20. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. The company has a market cap of $74.58 billion, a PE ratio of 71.29, a P/E/G ratio of 3.19 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent analyst reports. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a report on Tuesday, August 6th. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, August 6th. KeyCorp increased their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird reduced their price target on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $334.56.

Cadence Design Systems Profile

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.