Epoch Investment Partners Inc. Has $42.20 Million Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Epoch Investment Partners Inc. lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 135,575 shares of the software maker’s stock after selling 7,712 shares during the period. Epoch Investment Partners Inc.’s holdings in Cadence Design Systems were worth $42,202,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ulland Investment Advisors LLC acquired a new position in Cadence Design Systems in the 1st quarter valued at about $25,000. RiverPark Advisors LLC acquired a new position in Cadence Design Systems in the 1st quarter valued at about $26,000. Valley National Advisers Inc. grew its stake in Cadence Design Systems by 90.4% in the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after buying an additional 47 shares during the last quarter. Annapolis Financial Services LLC acquired a new position in Cadence Design Systems in the 1st quarter valued at about $32,000. Finally, Hollencrest Capital Management grew its stake in Cadence Design Systems by 637.5% in the 1st quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after buying an additional 102 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of analyst reports. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Bank of America increased their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. KeyCorp increased their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Wells Fargo & Company increased their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Piper Sandler restated a “neutral” rating and set a $318.00 target price on shares of Cadence Design Systems in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $334.56.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS traded up $0.41 during trading hours on Friday, hitting $258.79. 2,605,433 shares of the stock were exchanged, compared to its average volume of 1,908,584. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.19 and a current ratio of 1.43. The company has a market cap of $70.86 billion, a PE ratio of 67.39, a price-to-earnings-growth ratio of 3.11 and a beta of 1.03. The company’s fifty day simple moving average is $301.12 and its two-hundred day simple moving average is $298.06. Cadence Design Systems, Inc. has a 1-year low of $217.77 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. On average, sell-side analysts predict that Cadence Design Systems, Inc. will post 4.74 EPS for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total value of $165,216.00. Following the sale, the senior vice president now owns 20,480 shares in the company, valued at $5,639,372.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the transaction, the senior vice president now owns 20,480 shares in the company, valued at $5,639,372.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total transaction of $275,360.00. Following the transaction, the vice president now owns 67,144 shares in the company, valued at approximately $18,488,771.84. The disclosure for this sale can be found here. Insiders have sold 50,134 shares of company stock worth $14,987,093 over the last quarter. Corporate insiders own 1.99% 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.