Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $164,274.50 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total value of $164,274.50. Following the completion of the transaction, the vice president now owns 58,123 shares of the company’s stock, valued at $14,689,425.79. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Paul Cunningham also recently made the following trade(s):

• On Monday, February 3rd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The shares were sold at an average price of $292.32, for a total value of $190,008.00.
• On Thursday, January 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The shares were sold at an average price of $304.84, for a total value of $198,146.00.

Cadence Design Systems Stock Up 0.0 %

CDNS opened at $243.21 on Friday. Cadence Design Systems, Inc. has a fifty-two week low of $233.72 and a fifty-two week high of $328.99. The business has a 50-day moving average of $288.68 and a 200-day moving average of $285.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27. The company has a market capitalization of $66.67 billion, a PE ratio of 63.01, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in shares of Cadence Design Systems by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 2,237,569 shares of the software maker’s stock valued at $672,300,000 after acquiring an additional 216,075 shares in the last quarter. Pittenger & Anderson Inc. raised its stake in shares of Cadence Design Systems by 50.1% in the 4th quarter. Pittenger & Anderson Inc. now owns 5,289 shares of the software maker’s stock valued at $1,589,000 after acquiring an additional 1,766 shares in the last quarter. Meridiem Investment Management Ltd. raised its stake in shares of Cadence Design Systems by 64.3% in the 4th quarter. Meridiem Investment Management Ltd. now owns 783,906 shares of the software maker’s stock valued at $235,625,000 after acquiring an additional 306,887 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Cadence Design Systems by 132.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock valued at $41,850,000 after acquiring an additional 79,268 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Cadence Design Systems by 48.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock valued at $258,136,000 after acquiring an additional 310,250 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDNS has been the subject of a number of recent analyst reports. Loop Capital decreased their price target on Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Rosenblatt Securities increased their price objective on Cadence Design Systems from $280.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Bank of America reduced their price objective on Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $325.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 19th. Finally, Redburn Atlantic started coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.92.

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.