Atria Wealth Solutions Inc. Boosts Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Atria Wealth Solutions Inc. raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 77.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,880 shares of the software maker’s stock after buying an additional 16,526 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Cadence Design Systems were worth $10,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its position in shares of Cadence Design Systems by 8.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock valued at $140,000 after acquiring an additional 38 shares in the last quarter. Highview Capital Management LLC DE raised its position in shares of Cadence Design Systems by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock valued at $1,411,000 after acquiring an additional 39 shares in the last quarter. BSW Wealth Partners raised its position in shares of Cadence Design Systems by 2.8% during the 4th quarter. BSW Wealth Partners now owns 1,624 shares of the software maker’s stock valued at $442,000 after acquiring an additional 44 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Cadence Design Systems by 2.5% during the 3rd quarter. Lindbrook Capital LLC now owns 1,844 shares of the software maker’s stock valued at $432,000 after acquiring an additional 45 shares in the last quarter. Finally, Savant Capital LLC raised its position in shares of Cadence Design Systems by 2.7% during the 3rd quarter. Savant Capital LLC now owns 1,733 shares of the software maker’s stock valued at $406,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS traded up $0.48 during mid-day trading on Thursday, reaching $278.14. 1,036,954 shares of the stock were exchanged, compared to its average volume of 1,558,556. The business has a fifty day moving average price of $304.38 and a 200 day moving average price of $280.97. The firm has a market capitalization of $75.72 billion, a PE ratio of 72.31, a PEG ratio of 3.43 and a beta of 1.04. Cadence Design Systems, Inc. has a 1-year low of $198.92 and a 1-year high of $327.36. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the company posted $1.02 EPS. Cadence Design Systems’s revenue for the quarter was down 1.2% on a year-over-year basis. Research analysts expect that Cadence Design Systems, Inc. will post 4.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $310.46, for a total transaction of $186,276.00. Following the completion of the sale, the senior vice president now directly owns 21,080 shares in the company, valued at approximately $6,544,496.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James D. Plummer sold 2,412 shares of Cadence Design Systems stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $315.40, for a total transaction of $760,744.80. Following the completion of the sale, the director now directly owns 22,923 shares in the company, valued at approximately $7,229,914.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $310.46, for a total value of $186,276.00. Following the sale, the senior vice president now owns 21,080 shares of the company’s stock, valued at $6,544,496.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,044 shares of company stock worth $52,231,207. 1.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Morgan Stanley upgraded Cadence Design Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $260.00 to $350.00 in a research note on Wednesday, February 14th. StockNews.com upgraded Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Monday. 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.50.

About Cadence Design Systems

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.