Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Bought by Janney Capital Management LLC

Janney Capital Management LLC increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,820 shares of the software maker’s stock after buying an additional 641 shares during the period. Janney Capital Management LLC’s holdings in Cadence Design Systems were worth $261,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Cadence Design Systems by 6,398.5% in the first quarter. BlackRock Inc. now owns 26,541,567 shares of the software maker’s stock valued at $833,406,000 after buying an additional 26,133,138 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cadence Design Systems by 1.1% in the first quarter. Vanguard Group Inc. now owns 23,972,591 shares of the software maker’s stock valued at $752,740,000 after buying an additional 264,529 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Cadence Design Systems by 48.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,771,026 shares of the software maker’s stock valued at $149,811,000 after buying an additional 1,549,905 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in Cadence Design Systems by 11.6% in the first quarter. Pictet Asset Management Ltd. now owns 4,083,484 shares of the software maker’s stock valued at $128,221,000 after buying an additional 423,959 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Cadence Design Systems by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 3,279,262 shares of the software maker’s stock valued at $102,967,000 after buying an additional 69,677 shares during the period. Hedge funds and other institutional investors own 86.47% of the company’s stock.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) traded up 0.41% on Friday, reaching $36.34. 1,384,628 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $35.17 and a 200 day moving average price of $32.66. Cadence Design Systems, Inc. has a one year low of $24.03 and a one year high of $37.51. The firm has a market cap of $10.18 billion, a PE ratio of 42.26 and a beta of 0.94.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 24th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. Cadence Design Systems had a return on equity of 27.81% and a net margin of 12.86%. The business had revenue of $479 million for the quarter, compared to the consensus estimate of $476.21 million. During the same quarter in the previous year, the company posted $0.29 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. Analysts expect that Cadence Design Systems, Inc. will post $1.39 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another publication, it was illegally stolen and republished in violation of United States & international copyright and trademark law. The correct version of this article can be read at https://stocknewstimes.com/2017/08/12/janney-capital-management-llc-has-261000-stake-in-cadence-design-systems-inc-nasdaqcdns-updated.html.

Several research analysts recently weighed in on CDNS shares. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, July 27th. Bank of America Corporation upped their price objective on shares of Cadence Design Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. DA Davidson cut shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $33.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.67.

In other news, insider Thomas P. Beckley sold 56,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $35.00, for a total transaction of $1,968,750.00. Following the transaction, the insider now owns 322,734 shares of the company’s stock, valued at approximately $11,295,690. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lip Bu Tan sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $34.04, for a total value of $3,404,000.00. Following the transaction, the chief executive officer now directly owns 583,332 shares in the company, valued at approximately $19,856,621.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 434,656 shares of company stock worth $14,786,334. Corporate insiders own 2.55% of the company’s stock.

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).

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

Receive News & Ratings for Cadence Design Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply