34,014 Shares in Cadence Design Systems, Inc. (CDNS) Acquired by ING Groep NV

ING Groep NV bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 34,014 shares of the software maker’s stock, valued at approximately $1,139,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Cadence Design Systems by 490.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 45,258 shares of the software maker’s stock valued at $1,516,000 after buying an additional 37,591 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Cadence Design Systems by 53.2% in the first quarter. Glen Harbor Capital Management LLC now owns 18,810 shares of the software maker’s stock valued at $591,000 after buying an additional 6,534 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Cadence Design Systems during the first quarter valued at about $308,000. Capstone Asset Management Co. boosted its stake in shares of Cadence Design Systems by 2.3% in the first quarter. Capstone Asset Management Co. now owns 27,201 shares of the software maker’s stock valued at $854,000 after buying an additional 600 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Cadence Design Systems during the first quarter valued at $934,000. 86.08% of the stock is currently owned by institutional investors.

Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) traded up 0.30% during trading on Friday, hitting $36.95. 967,720 shares of the stock were exchanged. The stock has a market cap of $10.35 billion, a PE ratio of 42.97 and a beta of 0.94. The stock’s 50 day moving average price is $35.62 and its 200 day moving average price is $33.05. Cadence Design Systems, Inc. has a one year low of $24.15 and a one year high of $37.70.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, July 24th. The software maker reported $0.34 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $476.21 million. During the same period in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that Cadence Design Systems, Inc. will post $1.39 EPS for the current year.

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Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Thursday, April 27th. DA Davidson cut shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Cadence Design Systems in a report on Friday, July 7th. BidaskClub cut shares of Cadence Design Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Bank of America Corporation increased their price target on shares of Cadence Design Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.67.

In other news, VP James J. Cowie sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $33.09, for a total value of $1,455,960.00. Following the completion of the sale, the vice president now directly owns 137,332 shares in the company, valued at approximately $4,544,315.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lip Bu Tan sold 100,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was 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 owns 583,332 shares of the company’s stock, valued at $19,856,621.28. The disclosure for this sale can be found here. Insiders sold a total of 505,250 shares of company stock valued at $17,545,110 over the last quarter. Company insiders own 2.55% of the company’s stock.

About Cadence Design Systems

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)

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