Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Aneel Zaman Sells 17,626 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Rating) VP Aneel Zaman sold 17,626 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $201.62, for a total value of $3,553,754.12. Following the sale, the vice president now owns 94,242 shares in the company, valued at approximately $19,001,072.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Aneel Zaman also recently made the following trade(s):

• On Monday, February 27th, Aneel Zaman sold 1,801 shares of Cadence Design Systems stock. The stock was sold at an average price of $195.35, for a total value of $351,825.35.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $206.88 on Friday. Cadence Design Systems, Inc. has a 52 week low of $132.32 and a 52 week high of $209.50. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $56.47 billion, a P/E ratio of 66.95, a P/E/G ratio of 2.67 and a beta of 1.07. The stock’s fifty day moving average is $187.86 and its two-hundred day moving average is $170.87.

Cadence Design Systems (NASDAQ:CDNS – Get Rating) last released its quarterly earnings results on Monday, February 13th. The software maker reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cadence Design Systems had a return on equity of 33.89% and a net margin of 23.83%. The business had revenue of $899.88 million during the quarter, compared to analyst estimates of $884.23 million. During the same period last year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Equities analysts expect that Cadence Design Systems, Inc. will post 3.98 EPS for the current year.

Institutional Investors Weigh In On Cadence Design Systems

Hedge funds have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC purchased a new position in shares of Cadence Design Systems in the 2nd quarter valued at about $29,000. ST Germain D J Co. Inc. purchased a new position in Cadence Design Systems during the 4th quarter worth approximately $32,000. American National Bank purchased a new position in shares of Cadence Design Systems in the 3rd quarter valued at approximately $33,000. Private Trust Co. NA acquired a new position in Cadence Design Systems during the second quarter worth $35,000. Finally, Raleigh Capital Management Inc. raised its holdings in Cadence Design Systems by 108.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 225 shares of the software maker’s stock worth $36,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Cadence Design Systems from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, February 14th. KeyCorp lifted their price target on Cadence Design Systems from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, February 14th. Needham & Company LLC lifted their price target on Cadence Design Systems from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. StockNews.com initiated coverage on Cadence Design Systems in a research report on Thursday. They set a “buy” rating for the company. Finally, Rosenblatt Securities lifted their price target on Cadence Design Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $211.55.

Cadence Design Systems Company Profile

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Cadence Design Systems, Inc engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. It operates through the following geographical segments: United States, Other Americas, China, Other Asia, Europe, Middle East and Africa and Japan.