Whittier Trust Co. Has $1.91 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Whittier Trust Co. reduced its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,046 shares of the software maker’s stock after selling 303 shares during the period. Whittier Trust Co.’s holdings in Cadence Design Systems were worth $1,910,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its position in Cadence Design Systems by 223.8% during the first quarter. Empowered Funds LLC now owns 9,181 shares of the software maker’s stock worth $2,858,000 after acquiring an additional 6,346 shares during the period. Norden Group LLC lifted its position in shares of Cadence Design Systems by 1,659.3% in the 1st quarter. Norden Group LLC now owns 13,300 shares of the software maker’s stock worth $4,140,000 after purchasing an additional 12,544 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Cadence Design Systems by 58.1% during the 1st quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock valued at $396,470,000 after purchasing an additional 468,195 shares in the last quarter. Park National Corp OH increased its stake in Cadence Design Systems by 19.8% in the second quarter. Park National Corp OH now owns 136,251 shares of the software maker’s stock valued at $41,931,000 after purchasing an additional 22,537 shares in the last quarter. Finally, Teamwork Financial Advisors LLC increased its holdings in shares of Cadence Design Systems by 40.0% during the first quarter. Teamwork Financial Advisors LLC now owns 35,151 shares of the software maker’s stock valued at $10,942,000 after acquiring an additional 10,037 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the transaction, the vice president now owns 65,194 shares in the company, valued at $17,357,250.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the sale, the vice president now owns 65,194 shares of the company’s stock, valued at $17,357,250.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Chin-Chi Teng sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the completion of the sale, the vice president now directly owns 95,408 shares in the company, valued at approximately $26,366,954.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,347 shares of company stock worth $7,728,272 in the last three months. 1.99% of the stock is owned by insiders.

Cadence Design Systems Trading Down 0.6 %

Shares of CDNS opened at $251.51 on Wednesday. Cadence Design Systems, Inc. has a twelve month low of $228.66 and a twelve month high of $328.99. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $268.93 and its 200-day simple moving average is $283.73. The company has a market cap of $68.52 billion, a P/E ratio of 65.50, a P/E/G ratio of 3.37 and a beta of 1.02.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target on the stock. Mizuho initiated coverage on Cadence Design Systems in a research note on Tuesday. They set an “outperform” rating and a $325.00 price objective on the stock. Robert W. Baird lowered their price objective on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Berenberg Bank assumed coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Finally, KeyCorp lifted their price target on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.42.

Cadence Design Systems Company 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.