Tokio Marine Asset Management Co. Ltd. Grows Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) by 21.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,116 shares of the software maker’s stock after purchasing an additional 737 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cadence Design Systems were worth $618,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. National Bank of Canada FI increased its position in shares of Cadence Design Systems by 107.1% in the first quarter. National Bank of Canada FI now owns 21,496 shares of the software maker’s stock worth $3,443,000 after acquiring an additional 11,114 shares in the last quarter. MUFG Americas Holdings Corp purchased a new stake in Cadence Design Systems during the 1st quarter worth $187,000. IFM Investors Pty Ltd increased its holdings in Cadence Design Systems by 18.3% in the 1st quarter. IFM Investors Pty Ltd now owns 42,188 shares of the software maker’s stock valued at $6,938,000 after purchasing an additional 6,534 shares in the last quarter. Independent Advisor Alliance raised its position in Cadence Design Systems by 7.4% in the first quarter. Independent Advisor Alliance now owns 1,470 shares of the software maker’s stock valued at $242,000 after purchasing an additional 101 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Cadence Design Systems by 31.3% during the first quarter. CIBC Asset Management Inc now owns 73,763 shares of the software maker’s stock worth $12,131,000 after purchasing an additional 17,574 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Insider Activity

In related news, VP Chin-Chi Teng sold 11,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $174.59, for a total transaction of $1,920,490.00. Following the transaction, the vice president now directly owns 141,104 shares in the company, valued at $24,635,347.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Chin-Chi Teng sold 11,000 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $174.59, for a total transaction of $1,920,490.00. Following the completion of the sale, the vice president now owns 141,104 shares of the company’s stock, valued at approximately $24,635,347.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lip Bu Tan sold 50,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $162.87, for a total transaction of $8,143,500.00. Following the sale, the insider now owns 602,589 shares in the company, valued at approximately $98,143,670.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,750 shares of company stock worth $38,396,578. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $172.04 on Thursday. The firm has a market cap of $47.19 billion, a P/E ratio of 60.58, a P/E/G ratio of 2.71 and a beta of 1.07. The firm has a fifty day moving average of $158.73 and a two-hundred day moving average of $162.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24. Cadence Design Systems, Inc. has a 1-year low of $132.32 and a 1-year high of $194.97.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last posted its quarterly earnings results on Monday, October 24th. The software maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.10. Cadence Design Systems had a return on equity of 33.19% and a net margin of 22.86%. The business had revenue of $902.55 million during the quarter, compared to the consensus estimate of $868.85 million. During the same period last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 3.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CDNS. Rosenblatt Securities lowered their target price on Cadence Design Systems from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Robert W. Baird dropped their price objective on shares of Cadence Design Systems from $204.00 to $198.00 in a research note on Tuesday, October 25th. Wolfe Research assumed coverage on shares of Cadence Design Systems in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $210.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Cadence Design Systems in a report on Wednesday, September 28th. They set a “buy” rating and a $200.00 price target for the company. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 price objective on shares of Cadence Design Systems in a report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.75.

Cadence Design Systems Profile

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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.

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

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