Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Janiczek Wealth Management LLC

Janiczek Wealth Management LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,576 shares of the software maker’s stock after acquiring an additional 73 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Cadence Design Systems were worth $370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toroso Investments LLC raised its stake in Cadence Design Systems by 7.1% during the first quarter. Toroso Investments LLC now owns 10,115 shares of the software maker’s stock worth $2,125,000 after acquiring an additional 671 shares during the period. Barrett & Company Inc. acquired a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $30,000. ETF Managers Group LLC increased its stake in shares of Cadence Design Systems by 3.8% in the fourth quarter. ETF Managers Group LLC now owns 4,323 shares of the software maker’s stock valued at $694,000 after purchasing an additional 157 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Cadence Design Systems by 5.5% in the first quarter. Handelsbanken Fonder AB now owns 33,910 shares of the software maker’s stock valued at $7,124,000 after purchasing an additional 1,765 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Cadence Design Systems by 10.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,706 shares of the software maker’s stock valued at $5,401,000 after purchasing an additional 2,377 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $235.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 25th. Stifel Nicolaus upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $210.00 to $300.00 in a research note on Thursday, July 20th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Cadence Design Systems in a research note on Friday, August 25th. StockNews.com upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, KeyCorp raised their price objective on shares of Cadence Design Systems from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $257.44.

Insider Buying and Selling

In related news, Director James D. Plummer sold 4,406 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $238.54, for a total value of $1,051,007.24. Following the completion of the transaction, the director now owns 25,335 shares of the company’s stock, valued at approximately $6,043,410.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Aneel Zaman sold 271 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $227.85, for a total value of $61,747.35. Following the completion of the transaction, the vice president now owns 68,471 shares of the company’s stock, valued at approximately $15,601,117.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James D. Plummer sold 4,406 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $238.54, for a total transaction of $1,051,007.24. Following the completion of the transaction, the director now directly owns 25,335 shares of the company’s stock, valued at approximately $6,043,410.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,511 shares of company stock worth $16,268,306. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS traded down $8.74 during trading hours on Friday, reaching $234.08. 2,806,203 shares of the company’s stock were exchanged, compared to its average volume of 1,740,592. The company has a market capitalization of $63.62 billion, a P/E ratio of 71.80, a price-to-earnings-growth ratio of 3.21 and a beta of 1.03. Cadence Design Systems, Inc. has a 12 month low of $138.76 and a 12 month high of $248.16. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The business’s 50-day simple moving average is $234.76 and its two-hundred day simple moving average is $221.74.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 24th. The software maker reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. The firm had revenue of $977.00 million during the quarter, compared to analysts’ expectations of $975.99 million. Cadence Design Systems had a net margin of 23.41% and a return on equity of 33.79%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. Sell-side analysts expect that Cadence Design Systems, Inc. will post 4.1 EPS 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.