Tokio Marine Asset Management Co. Ltd. Purchases 277 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Tokio Marine Asset Management Co. Ltd. grew its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,651 shares of the software maker’s stock after buying an additional 277 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cadence Design Systems were worth $1,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital Investment Advisors LLC lifted its stake in Cadence Design Systems by 53.9% in the third quarter. Capital Investment Advisors LLC now owns 2,071 shares of the software maker’s stock valued at $485,000 after acquiring an additional 725 shares during the last quarter. Mach 1 Financial Group LLC bought a new position in shares of Cadence Design Systems in the third quarter valued at about $203,000. Private Trust Co. NA raised its position in shares of Cadence Design Systems by 43.6% in the third quarter. Private Trust Co. NA now owns 405 shares of the software maker’s stock valued at $95,000 after purchasing an additional 123 shares during the period. Capital Market Strategies LLC bought a new position in shares of Cadence Design Systems in the third quarter valued at about $253,000. Finally, Czech National Bank raised its position in shares of Cadence Design Systems by 47.2% in the third quarter. Czech National Bank now owns 47,503 shares of the software maker’s stock valued at $11,130,000 after purchasing an additional 15,222 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CDNS shares. Robert W. Baird raised their price target on shares of Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus raised their price target on shares of Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Monday. Finally, KeyCorp lifted their target price on shares of Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $316.50.

Insider Activity

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $299.42, for a total value of $449,130.00. Following the completion of the transaction, the director now owns 53,183 shares of the company’s stock, valued at approximately $15,924,053.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $310.46, for a total transaction of $186,276.00. Following the completion of the transaction, the senior vice president now directly owns 21,080 shares in the company, valued at approximately $6,544,496.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $299.42, for a total value of $449,130.00. Following the transaction, the director now owns 53,183 shares of the company’s stock, valued at $15,924,053.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,044 shares of company stock worth $52,231,207. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded up $1.14 during midday trading on Thursday, reaching $278.80. The stock had a trading volume of 1,116,595 shares, compared to its average volume of 1,560,064. The firm’s 50-day moving average price is $304.38 and its 200 day moving average price is $280.97. Cadence Design Systems, Inc. has a 12 month low of $198.92 and a 12 month high of $327.36. The firm has a market capitalization of $75.90 billion, a PE ratio of 72.31, a P/E/G ratio of 3.43 and a beta of 1.04. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.08.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. Cadence Design Systems’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 earnings per share. As a group, research analysts predict that Cadence Design Systems, Inc. will post 4.81 earnings per share for the current fiscal year.

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.