942 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Bought by Waldron Private Wealth LLC

Waldron Private Wealth LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 942 shares of the software maker’s stock, valued at approximately $256,000.

Several other institutional investors also recently modified their holdings of CDNS. Vontobel Holding Ltd. increased its position in Cadence Design Systems by 66.9% during the fourth quarter. Vontobel Holding Ltd. now owns 34,913 shares of the software maker’s stock worth $9,509,000 after buying an additional 13,997 shares during the last quarter. Sumitomo Life Insurance Co. bought a new stake in Cadence Design Systems in the 4th quarter valued at $2,070,000. Louisiana State Employees Retirement System acquired a new stake in Cadence Design Systems during the 4th quarter valued at $10,350,000. Graypoint LLC boosted its position in Cadence Design Systems by 15.5% during the fourth quarter. Graypoint LLC now owns 1,814 shares of the software maker’s stock worth $494,000 after purchasing an additional 243 shares during the period. Finally, AlphaQ Advisors LLC raised its position in shares of Cadence Design Systems by 5.4% in the fourth quarter. AlphaQ Advisors LLC now owns 1,035 shares of the software maker’s stock valued at $282,000 after purchasing an additional 53 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cadence Design Systems news, CFO John M. Wall sold 36,000 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $277.46, for a total transaction of $9,988,560.00. Following the sale, the chief financial officer now owns 80,594 shares of the company’s stock, valued at $22,361,611.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Thomas P. Beckley sold 65,268 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the transaction, the vice president now directly owns 156,156 shares of the company’s stock, valued at $46,375,208.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John M. Wall sold 36,000 shares of Cadence Design Systems stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $277.46, for a total transaction of $9,988,560.00. Following the completion of the sale, the chief financial officer now directly owns 80,594 shares of the company’s stock, valued at $22,361,611.24. The disclosure for this sale can be found here. Insiders sold 212,044 shares of company stock valued at $63,106,522 over the last quarter. Insiders own 0.62% of the company’s stock.

Cadence Design Systems Stock Down 0.2 %

Shares of NASDAQ CDNS opened at $300.81 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.13. Cadence Design Systems, Inc. has a 1 year low of $194.01 and a 1 year high of $327.36. The company has a 50 day simple moving average of $306.73 and a 200 day simple moving average of $279.25. The firm has a market cap of $81.89 billion, a PE ratio of 78.75, a price-to-earnings-growth ratio of 3.66 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.05. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue was up 18.8% on a year-over-year basis. On average, research analysts forecast that Cadence Design Systems, Inc. will post 4.82 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on CDNS shares. Robert W. Baird upped their price target on shares of Cadence Design Systems from $289.00 to $302.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. Wells Fargo & Company upped their price objective on Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday. Piper Sandler began coverage on shares of Cadence Design Systems in a report on Thursday, April 4th. They issued a “neutral” rating and a $334.00 price objective for the company. Stifel Nicolaus boosted their price target on Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, KeyCorp raised their price objective on Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.10.

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.