Ontario Teachers Pension Plan Board lessened its stake in Cadence Design Systems Inc (NASDAQ:CDNS) by 11.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,357 shares of the software maker’s stock after selling 3,178 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Cadence Design Systems were worth $1,104,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Fort L.P. bought a new stake in shares of Cadence Design Systems in the second quarter worth $119,000. Psagot Investment House Ltd. increased its stake in Cadence Design Systems by 52.4% during the third quarter. Psagot Investment House Ltd. now owns 3,262 shares of the software maker’s stock valued at $148,000 after purchasing an additional 1,121 shares during the last quarter. Signaturefd LLC increased its stake in Cadence Design Systems by 160.0% during the second quarter. Signaturefd LLC now owns 4,573 shares of the software maker’s stock valued at $198,000 after purchasing an additional 2,814 shares during the last quarter. Buckingham Asset Management LLC bought a new stake in Cadence Design Systems during the third quarter valued at $208,000. Finally, Intact Investment Management Inc. bought a new stake in Cadence Design Systems during the third quarter valued at $218,000. Institutional investors and hedge funds own 88.26% of the company’s stock.
In other news, CEO Lip Bu Tan sold 5,469 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $46.10, for a total transaction of $252,120.90. Following the completion of the transaction, the chief executive officer now owns 424,566 shares of the company’s stock, valued at $19,572,492.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Aneel Zaman sold 32,995 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $44.46, for a total transaction of $1,466,957.70. Following the transaction, the insider now directly owns 202,927 shares of the company’s stock, valued at approximately $9,022,134.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,471 shares of company stock valued at $9,763,272. Corporate insiders own 2.55% of the company’s stock.
CDNS stock opened at $44.12 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.64 and a quick ratio of 1.58. Cadence Design Systems Inc has a 1-year low of $35.49 and a 1-year high of $47.40. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 3.21 and a beta of 1.12.
Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 22nd. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.08. Cadence Design Systems had a net margin of 11.25% and a return on equity of 28.44%. The firm had revenue of $532.47 million during the quarter, compared to analyst estimates of $516.50 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts predict that Cadence Design Systems Inc will post 1.16 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This story was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.chaffeybreeze.com/2018/11/30/cadence-design-systems-inc-cdns-shares-sold-by-ontario-teachers-pension-plan-board.html.
Cadence Design Systems Company Profile
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.
Further Reading: Insider Trading – What You Need to Know
Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems Inc (NASDAQ:CDNS).
Receive News & Ratings for Cadence Design Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems and related companies with MarketBeat.com's FREE daily email newsletter.