American Century Companies Inc. Has $19.26 Million Holdings in Cadence Design Systems (CDNS)

American Century Companies Inc. boosted its holdings in shares of Cadence Design Systems (NASDAQ:CDNS) by 106.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 523,708 shares of the software maker’s stock after purchasing an additional 269,920 shares during the period. American Century Companies Inc. owned about 0.19% of Cadence Design Systems worth $19,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barings LLC increased its holdings in shares of Cadence Design Systems by 88.6% during the fourth quarter. Barings LLC now owns 79,400 shares of the software maker’s stock worth $3,321,000 after buying an additional 37,300 shares in the last quarter. Camelot Portfolios LLC increased its holdings in shares of Cadence Design Systems by 21.3% during the fourth quarter. Camelot Portfolios LLC now owns 11,402 shares of the software maker’s stock worth $477,000 after buying an additional 2,000 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Cadence Design Systems by 3.5% during the fourth quarter. BlackRock Inc. now owns 19,696,293 shares of the software maker’s stock worth $823,698,000 after buying an additional 659,728 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Cadence Design Systems by 2.8% during the fourth quarter. California Public Employees Retirement System now owns 648,730 shares of the software maker’s stock worth $27,130,000 after buying an additional 17,954 shares in the last quarter. Finally, Buckley Wealth Management LLC acquired a new stake in shares of Cadence Design Systems during the fourth quarter worth approximately $586,000. Hedge funds and other institutional investors own 88.34% of the company’s stock.

In other Cadence Design Systems news, insider Aneel Zaman sold 43,733 shares of the firm’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $40.02, for a total value of $1,750,194.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Anirudh Devgan sold 40,063 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $38.54, for a total transaction of $1,544,028.02. Following the completion of the transaction, the president now directly owns 403,387 shares in the company, valued at $15,546,534.98. The disclosure for this sale can be found here. In the last three months, insiders sold 126,097 shares of company stock valued at $4,976,836. 2.55% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on CDNS shares. BidaskClub lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Zacks Investment Research lowered shares of Cadence Design Systems from a “hold” rating to a “strong sell” rating in a report on Monday, February 5th. DA Davidson raised shares of Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. ValuEngine raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $43.00 price target (up previously from $37.00) on shares of Cadence Design Systems in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Cadence Design Systems presently has an average rating of “Hold” and a consensus target price of $43.71.

Shares of Cadence Design Systems opened at $41.52 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market capitalization of $11.58 billion, a P/E ratio of 39.17, a P/E/G ratio of 3.59 and a beta of 1.13. Cadence Design Systems has a fifty-two week low of $40.89 and a fifty-two week high of $41.13.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 23rd. The software maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $517.00 million during the quarter, compared to analyst estimates of $505.33 million. Cadence Design Systems had a net margin of 10.52% and a return on equity of 29.43%. Cadence Design Systems’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. equities analysts predict that Cadence Design Systems will post 0.95 earnings per share for the current fiscal year.

Cadence Design Systems Profile

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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

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