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Sunday, December 17, 2017

Schroder Investment Management Group Sells 144,437 Shares of Cadence Design Systems, Inc by Amber O'Connor

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Schroder Investment Management Group trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,797,764 shares of the software maker’s stock after selling 144,437 shares during the period. Schroder Investment Management Group owned approximately 0.64% of Cadence Design Systems worth $70,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sigma Planning Corp increased its stake in shares of Cadence Design Systems by 17.1% in the third quarter. Sigma Planning Corp now owns 66,369 shares of the software maker’s stock worth $2,620,000 after acquiring an additional 9,695 shares during the last quarter. Janus Henderson Group PLC increased its position in Cadence Design Systems by 73,454.0% during the second quarter. Janus Henderson Group PLC now owns 20,701,780 shares of the software maker’s stock worth $693,303,000 after buying an additional 20,673,635 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Cadence Design Systems during the second quarter worth $2,170,000. Robeco Institutional Asset Management B.V. increased its position in Cadence Design Systems by 134.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 204,187 shares of the software maker’s stock worth $6,838,000 after buying an additional 117,005 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in Cadence Design Systems during the second quarter worth $934,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

CDNS has been the subject of a number of recent analyst reports. Credit Suisse Group restated an “outperform” rating on shares of Cadence Design Systems in a report on Thursday, August 31st. Royal Bank of Canada reiterated a “buy” rating and issued a $46.00 target price on shares of Cadence Design Systems in a research note on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of Cadence Design Systems in a research note on Sunday, November 26th. Zacks Investment Research raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, November 1st. Finally, DA Davidson increased their price target on shares of Cadence Design Systems to $43.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Cadence Design Systems presently has a consensus rating of “Buy” and an average target price of $44.50.

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