TD Asset Management Inc Has $76.19 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

TD Asset Management Inc decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 29.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 324,853 shares of the software maker’s stock after selling 136,636 shares during the quarter. TD Asset Management Inc owned about 0.12% of Cadence Design Systems worth $76,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDNS. Aspire Private Capital LLC bought a new position in Cadence Design Systems during the first quarter worth $15,126,480,000. AllSquare Wealth Management LLC bought a new position in Cadence Design Systems in the first quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new position in Cadence Design Systems during the first quarter valued at approximately $30,000. AdvisorNet Financial Inc lifted its stake in Cadence Design Systems by 70.5% during the first quarter. AdvisorNet Financial Inc now owns 150 shares of the software maker’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Cadence Design Systems in the 1st quarter valued at $32,000. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP Aneel Zaman sold 1,207 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $231.86, for a total value of $279,855.02. Following the completion of the sale, the vice president now owns 66,080 shares in the company, valued at $15,321,308.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Aneel Zaman sold 1,207 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $231.86, for a total value of $279,855.02. Following the transaction, the vice president now directly owns 66,080 shares of the company’s stock, valued at approximately $15,321,308.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John M. Wall sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $255.00, for a total transaction of $318,750.00. Following the sale, the chief financial officer now owns 85,375 shares of the company’s stock, valued at approximately $21,770,625. The disclosure for this sale can be found here. Insiders have sold 21,279 shares of company stock valued at $5,049,575 in the last three months. 1.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CDNS. StockNews.com started coverage on Cadence Design Systems in a research report on Thursday, October 5th. They set a “buy” rating for the company. Morgan Stanley began coverage on Cadence Design Systems in a research note on Friday, November 10th. They issued an “equal weight” rating and a $260.00 price target for the company. Robert W. Baird lifted their price target on Cadence Design Systems from $253.00 to $257.00 in a research note on Tuesday, July 25th. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $268.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $264.50.

Cadence Design Systems Trading Up 3.3 %

CDNS opened at $272.62 on Wednesday. Cadence Design Systems, Inc. has a fifty-two week low of $154.88 and a fifty-two week high of $272.99. The firm has a market capitalization of $74.17 billion, a PE ratio of 77.67, a P/E/G ratio of 3.28 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.44 and a quick ratio of 1.31. The company’s 50-day moving average is $242.20 and its 200 day moving average is $232.58.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 23rd. The software maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.20 by $0.06. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a return on equity of 34.64% and a net margin of 24.42%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, research analysts predict that Cadence Design Systems, Inc. will post 4.13 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.