EULAV Asset Management Purchases 7,996 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

EULAV Asset Management increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 289,304 shares of the software maker’s stock after purchasing an additional 7,996 shares during the period. Cadence Design Systems accounts for approximately 2.1% of EULAV Asset Management’s holdings, making the stock its 10th largest position. EULAV Asset Management owned about 0.11% of Cadence Design Systems worth $86,924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDNS. Dynamic Advisor Solutions LLC boosted its stake in Cadence Design Systems by 23.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 3,232 shares of the software maker’s stock valued at $876,000 after purchasing an additional 609 shares during the period. Brookstone Capital Management boosted its position in shares of Cadence Design Systems by 19.3% in the third quarter. Brookstone Capital Management now owns 10,674 shares of the software maker’s stock valued at $2,893,000 after acquiring an additional 1,729 shares during the period. Tobam grew its stake in shares of Cadence Design Systems by 47.4% in the third quarter. Tobam now owns 1,237 shares of the software maker’s stock valued at $335,000 after acquiring an additional 398 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in Cadence Design Systems by 16.1% during the third quarter. Pinnacle Bancorp Inc. now owns 2,524 shares of the software maker’s stock worth $684,000 after acquiring an additional 350 shares during the period. Finally, JGP Wealth Management LLC raised its stake in Cadence Design Systems by 5.4% in the 3rd quarter. JGP Wealth Management LLC now owns 2,624 shares of the software maker’s stock worth $711,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $299.68 on Friday. The company’s 50 day moving average price is $304.73 and its two-hundred day moving average price is $284.93. The firm has a market capitalization of $82.19 billion, a P/E ratio of 78.66, a P/E/G ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99.

Analysts Set New Price Targets

Several brokerages have recently commented on CDNS. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird lifted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Mizuho increased their target price on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Berenberg Bank initiated coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target for the company. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $329.50.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the sale, the vice president now directly owns 60,461 shares in the company, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul Scannell sold 3,171 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $305.78, for a total transaction of $969,628.38. Following the completion of the transaction, the vice president now owns 14,318 shares of the company’s stock, valued at approximately $4,378,158.04. This trade represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock worth $33,538,875 in the last 90 days. Insiders own 0.62% of the company’s stock.

About Cadence Design Systems

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.