Cookson Peirce & Co. Inc. Sells 176 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Cookson Peirce & Co. Inc. trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,278 shares of the software maker’s stock after selling 176 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Cadence Design Systems were worth $1,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cadence Design Systems in the fourth quarter worth about $770,945,000. Alliancebernstein L.P. boosted its position in Cadence Design Systems by 620.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,954,303 shares of the software maker’s stock valued at $474,579,000 after buying an additional 2,543,966 shares during the period. Moneta Group Investment Advisors LLC bought a new position in Cadence Design Systems in the 4th quarter worth about $227,854,000. Nordea Investment Management AB increased its position in shares of Cadence Design Systems by 124.8% during the fourth quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock worth $515,995,000 after acquiring an additional 1,052,228 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Cadence Design Systems by 143.3% during the third quarter. Wellington Management Group LLP now owns 1,634,920 shares of the software maker’s stock valued at $383,062,000 after acquiring an additional 962,987 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CDNS shares. Rosenblatt Securities cut Cadence Design Systems from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $265.00 to $280.00 in a research note on Tuesday, February 13th. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus lifted their price objective on Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Wells Fargo & Company increased their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, KeyCorp raised their target price on shares of Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Monday. Three research 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $316.10.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $310.46, for a total transaction of $310,460.00. Following the sale, the vice president now directly owns 68,144 shares of the company’s stock, valued at $21,155,986.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $300.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the director now directly owns 54,683 shares of the company’s stock, valued at approximately $16,404,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $310.46, for a total transaction of $310,460.00. Following the sale, the vice president now owns 68,144 shares of the company’s stock, valued at $21,155,986.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212,044 shares of company stock valued at $63,106,522. Insiders own 0.62% of the company’s stock.

Cadence Design Systems Trading Down 0.2 %

Shares of NASDAQ:CDNS opened at $300.81 on Wednesday. The business’s 50-day moving average is $306.73 and its 200 day moving average is $279.25. 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 firm has a market capitalization of $81.89 billion, a P/E ratio of 78.75, a P/E/G ratio of 3.66 and a beta of 1.04.

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