SG Americas Securities LLC Has $30.54 Million Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

SG Americas Securities LLC lifted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 59.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,659 shares of the software maker’s stock after purchasing an additional 37,943 shares during the period. SG Americas Securities LLC’s holdings in Cadence Design Systems were worth $30,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Missouri Trust & Investment Co acquired a new stake in Cadence Design Systems during the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Cadence Design Systems during the 3rd quarter worth $28,000. Versant Capital Management Inc grew its holdings in Cadence Design Systems by 164.2% during the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock worth $42,000 after acquiring an additional 87 shares during the period. Prestige Wealth Management Group LLC grew its holdings in Cadence Design Systems by 56.6% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock worth $45,000 after acquiring an additional 60 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Cadence Design Systems by 30.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock worth $55,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 3.4 %

Shares of NASDAQ:CDNS opened at $321.49 on Thursday. The company’s 50-day moving average price is $304.79 and its two-hundred day moving average price is $284.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99. The stock has a market capitalization of $88.17 billion, a PE ratio of 84.38, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on CDNS shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. Loop Capital started coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 target price for the company. Robert W. Baird lifted 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. Needham & Company LLC decreased their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Berenberg Bank assumed coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average target price of $329.50.

Insiders Place Their Bets

In other news, CEO Anirudh Devgan sold 5,920 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total value of $1,799,916.80. Following the sale, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at approximately $16,987,930.96. This represents a 9.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the sale, the vice president now directly owns 61,111 shares in the company, valued at approximately $16,866,636. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock valued at $33,528,267 in the last three months. 1.99% of the stock is currently owned by corporate 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.