Principal Financial Group Inc. lowered its holdings in Cadence Design Systems Inc (NASDAQ:CDNS) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,721 shares of the software maker’s stock after selling 2,598 shares during the quarter. Principal Financial Group Inc. owned 0.16% of Cadence Design Systems worth $16,169,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CDNS. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Cadence Design Systems in the 1st quarter valued at $204,000. Intact Investment Management Inc. purchased a new stake in shares of Cadence Design Systems in the 1st quarter valued at $206,000. Thompson Siegel & Walmsley LLC raised its holdings in shares of Cadence Design Systems by 114.8% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 5,800 shares of the software maker’s stock valued at $213,000 after buying an additional 3,100 shares during the period. MANA Advisors LLC purchased a new stake in shares of Cadence Design Systems in the 4th quarter valued at $214,000. Finally, Global X Management Co. LLC purchased a new stake in shares of Cadence Design Systems in the 1st quarter valued at $220,000. Institutional investors own 85.92% of the company’s stock.

Shares of Cadence Design Systems opened at $43.87 on Monday, according to Marketbeat. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.30. Cadence Design Systems Inc has a 1-year low of $32.85 and a 1-year high of $46.00. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 41.39, a P/E/G ratio of 3.83 and a beta of 1.12.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 23rd. The software maker reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Cadence Design Systems had a return on equity of 29.43% and a net margin of 10.52%. The company had revenue of $517.00 million for the quarter, compared to the consensus estimate of $505.33 million. During the same quarter in the prior year, the business earned $0.32 EPS. Cadence Design Systems’s revenue was up 8.4% on a year-over-year basis. research analysts expect that Cadence Design Systems Inc will post 0.95 earnings per share for the current fiscal year.

In other Cadence Design Systems news, CEO Lip Bu Tan sold 100,000 shares of the company’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $44.82, for a total transaction of $4,482,000.00. Following the sale, the chief executive officer now owns 502,813 shares in the company, valued at approximately $22,536,078.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Aneel Zaman sold 43,733 shares of the company’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $40.02, for a total value of $1,750,194.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,763 shares of company stock worth $7,907,839. 2.55% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on CDNS shares. ValuEngine upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Thursday, April 26th. BidaskClub upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Wednesday, June 20th. Needham & Company LLC upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Tuesday, April 24th. Finally, DA Davidson upgraded Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $43.71.

About Cadence Design Systems

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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

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