Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham Sells 1,000 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total value of $275,360.00. Following the completion of the sale, the vice president now owns 67,144 shares in the company, valued at approximately $18,488,771.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Paul Cunningham also recently made the following trade(s):

• On Monday, April 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $310.46, for a total transaction of $310,460.00.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $281.63 on Friday. Cadence Design Systems, Inc. has a 12 month low of $198.92 and a 12 month high of $327.36. The stock has a 50 day moving average of $302.46 and a 200-day moving average of $281.91. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $76.64 billion, a P/E ratio of 73.34, a P/E/G ratio of 3.25 and a beta of 1.06.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $1.13 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 earnings per share. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 4.78 EPS for the current year.

Institutional Investors Weigh In On Cadence Design Systems

A number of institutional investors have recently made changes to their positions in CDNS. Ulland Investment Advisors LLC acquired a new stake in Cadence Design Systems during the 1st quarter worth approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of Cadence Design Systems during the third quarter worth $26,000. Valley National Advisers Inc. boosted its position in shares of Cadence Design Systems by 90.4% in the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after acquiring an additional 47 shares during the period. RiverPark Advisors LLC acquired a new position in shares of Cadence Design Systems in the first quarter valued at about $26,000. Finally, Fortitude Family Office LLC bought a new position in Cadence Design Systems during the fourth quarter worth about $28,000. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CDNS. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company lifted their target price on Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Monday, April 22nd. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a research note on Friday, April 19th. Finally, Stifel Nicolaus upped their price objective on Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $326.11.

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.