Integrated Wealth Concepts LLC Cuts Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Integrated Wealth Concepts LLC lowered its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,712 shares of the software maker’s stock after selling 59 shares during the period. Integrated Wealth Concepts LLC’s holdings in Cadence Design Systems were worth $464,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its holdings in shares of Cadence Design Systems by 9.9% in the second quarter. Dynamic Advisor Solutions LLC now owns 2,623 shares of the software maker’s stock valued at $807,000 after acquiring an additional 237 shares in the last quarter. ORG Partners LLC raised its stake in shares of Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Cadence Design Systems by 0.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,243 shares of the software maker’s stock worth $9,000,000 after buying an additional 89 shares during the last quarter. Swedbank AB grew its position in Cadence Design Systems by 7.8% during the second quarter. Swedbank AB now owns 1,523,142 shares of the software maker’s stock valued at $468,747,000 after buying an additional 109,662 shares during the period. Finally, Blue Trust Inc. increased its holdings in Cadence Design Systems by 331.6% during the second quarter. Blue Trust Inc. now owns 1,705 shares of the software maker’s stock worth $531,000 after buying an additional 1,310 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the transaction, the vice president now directly owns 60,461 shares in the company, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karna Nisewaner sold 659 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total transaction of $181,870.82. Following the transaction, the senior vice president now directly owns 16,029 shares in the company, valued at $4,423,683.42. This represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,634 shares of company stock valued at $1,584,080. 1.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Loop Capital assumed coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They issued a “buy” rating and a $360.00 price target on the stock. Needham & Company LLC lowered their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Mizuho initiated coverage on shares of Cadence Design Systems in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price target on the stock. Robert W. Baird upped their target price on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company started coverage on shares of Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.00.

Cadence Design Systems Price Performance

Shares of CDNS opened at $308.78 on Thursday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The company has a market capitalization of $84.69 billion, a P/E ratio of 81.04, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03. The firm has a 50 day moving average of $287.32 and a 200 day moving average of $285.28.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $1.01 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share 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.