Natixis Has $38.30 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Natixis boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 345.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,480 shares of the software maker’s stock after acquiring an additional 98,853 shares during the quarter. Natixis’ holdings in Cadence Design Systems were worth $38,303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Cadence Design Systems by 33.0% in the third quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker’s stock valued at $547,886,000 after buying an additional 501,833 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Cadence Design Systems by 78.5% in the third quarter. M&T Bank Corp now owns 35,218 shares of the software maker’s stock valued at $9,546,000 after buying an additional 15,491 shares during the period. Advisory Resource Group lifted its position in Cadence Design Systems by 20.9% in the 3rd quarter. Advisory Resource Group now owns 3,721 shares of the software maker’s stock valued at $1,009,000 after acquiring an additional 643 shares in the last quarter. World Investment Advisors LLC increased its holdings in Cadence Design Systems by 656.3% during the 3rd quarter. World Investment Advisors LLC now owns 7,457 shares of the software maker’s stock worth $2,021,000 after purchasing an additional 6,471 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new stake in shares of Cadence Design Systems in the third quarter valued at about $202,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CDNS. Robert W. Baird lowered their price objective on shares of Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $325.00 target price on shares of Cadence Design Systems in a research report on Wednesday, February 19th. Oppenheimer dropped their price target on shares of Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 19th. Mizuho lowered their price objective on shares of Cadence Design Systems from $350.00 to $300.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $320.67.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total transaction of $164,274.50. Following the transaction, the vice president now directly owns 58,123 shares of the company’s stock, valued at approximately $14,689,425.79. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,950 shares of company stock worth $518,499 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.

Cadence Design Systems Trading Up 0.4 %

Shares of NASDAQ:CDNS opened at $260.22 on Friday. The stock has a market cap of $71.38 billion, a PE ratio of 67.41, a P/E/G ratio of 3.88 and a beta of 1.14. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $328.99. The business has a 50 day moving average of $257.23 and a 200-day moving average of $282.03.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.