Crossmark Global Holdings Inc. Takes $432,000 Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Crossmark Global Holdings Inc. purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,933 shares of the software maker’s stock, valued at approximately $432,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CDNS. Janus Henderson Group PLC raised its position in Cadence Design Systems by 73,454.0% in the second quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock worth $693,303,000 after acquiring an additional 20,673,635 shares during the period. APG Asset Management N.V. raised its position in shares of Cadence Design Systems by 20,049.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,667,241 shares of the software maker’s stock valued at $144,746,000 after purchasing an additional 3,649,041 shares during the period. AJO LP raised its position in shares of Cadence Design Systems by 416.3% during the 2nd quarter. AJO LP now owns 1,757,187 shares of the software maker’s stock valued at $58,848,000 after purchasing an additional 1,416,833 shares during the period. Prudential Financial Inc. raised its position in shares of Cadence Design Systems by 226.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,721,641 shares of the software maker’s stock valued at $57,658,000 after purchasing an additional 1,193,576 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Cadence Design Systems by 257.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,571,874 shares of the software maker’s stock valued at $52,641,000 after purchasing an additional 1,132,146 shares during the period. Institutional investors and hedge funds own 84.81% of the company’s stock.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $41.97, for a total value of $4,197,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,833 shares of the company’s stock, valued at approximately $18,711,611.01. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO John M. Wall sold 750 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $40.68, for a total transaction of $30,510.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,224 shares of company stock valued at $9,879,242. 2.55% of the stock is owned by corporate insiders.

Shares of Cadence Design Systems, Inc. (CDNS) traded up $0.65 during trading hours on Thursday, hitting $43.55. 2,110,528 shares of the company’s stock were exchanged, compared to its average volume of 2,312,081. Cadence Design Systems, Inc. has a 1-year low of $24.15 and a 1-year high of $45.64. The company has a quick ratio of 1.72, a current ratio of 1.79 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12,048.30, a PE ratio of 45.88, a P/E/G ratio of 3.37 and a beta of 0.93.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Thursday, October 26th. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Cadence Design Systems had a net margin of 13.45% and a return on equity of 29.00%. The firm had revenue of $485.40 million during the quarter, compared to analysts’ expectations of $481.10 million. During the same period in the previous year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities research analysts forecast that Cadence Design Systems, Inc. will post 1.06 earnings per share for the current year.

Several analysts have recently commented on CDNS shares. Royal Bank Of Canada restated a “buy” rating and set a $46.00 price objective on shares of Cadence Design Systems in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, November 1st. KeyCorp reiterated a “hold” rating on shares of Cadence Design Systems in a report on Sunday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Cadence Design Systems in a report on Sunday, October 29th. Finally, DA Davidson lifted their price target on shares of Cadence Design Systems to $43.00 and gave the company a “neutral” rating in a report on Monday, October 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cadence Design Systems currently has a consensus rating of “Buy” and an average price target of $40.60.

COPYRIGHT VIOLATION WARNING: “Crossmark Global Holdings Inc. Takes $432,000 Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)” was originally reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.thelincolnianonline.com/2017/12/07/crossmark-global-holdings-inc-acquires-shares-of-10933-cadence-design-systems-inc-cdns-updated-updated-updated.html.

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)

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.

Leave a Reply