Slow Capital Inc. Buys 51 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Slow Capital Inc. increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,315 shares of the software maker’s stock after acquiring an additional 51 shares during the quarter. Slow Capital Inc.’s holdings in Cadence Design Systems were worth $2,796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC increased its position in Cadence Design Systems by 223.8% during the first quarter. Empowered Funds LLC now owns 9,181 shares of the software maker’s stock worth $2,858,000 after acquiring an additional 6,346 shares during the period. Norden Group LLC boosted its stake in Cadence Design Systems by 1,659.3% during the first quarter. Norden Group LLC now owns 13,300 shares of the software maker’s stock worth $4,140,000 after buying an additional 12,544 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Cadence Design Systems by 58.1% during the first quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock worth $396,470,000 after buying an additional 468,195 shares in the last quarter. Park National Corp OH boosted its stake in Cadence Design Systems by 19.8% during the second quarter. Park National Corp OH now owns 136,251 shares of the software maker’s stock worth $41,931,000 after buying an additional 22,537 shares in the last quarter. Finally, Teamwork Financial Advisors LLC boosted its stake in Cadence Design Systems by 40.0% during the first quarter. Teamwork Financial Advisors LLC now owns 35,151 shares of the software maker’s stock worth $10,942,000 after buying an additional 10,037 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent research reports. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research note on Tuesday. They set a “buy” rating and a $320.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Oppenheimer initiated coverage on shares of Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a research note on Tuesday, August 6th. Finally, Robert W. Baird cut their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $323.27.

Cadence Design Systems Price Performance

Shares of CDNS opened at $258.52 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. The stock has a 50 day simple moving average of $269.59 and a 200 day simple moving average of $284.83. Cadence Design Systems, Inc. has a 52-week low of $228.66 and a 52-week high of $328.99. The firm has a market capitalization of $70.43 billion, a PE ratio of 67.32, a P/E/G ratio of 3.37 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $0.94 EPS. Cadence Design Systems’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the transaction, the chief financial officer now owns 38,654 shares of the company’s stock, valued at $10,278,485.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Karna Nisewaner sold 1,213 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $279.49, for a total value of $339,021.37. Following the completion of the sale, the senior vice president now owns 17,617 shares of the company’s stock, valued at approximately $4,923,775.33. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John M. Wall sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the sale, the chief financial officer now directly owns 38,654 shares of the company’s stock, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,347 shares of company stock worth $7,728,272. 1.99% of the stock is owned by company insiders.

Cadence Design Systems 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.