Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Van Strum & Towne Inc.

Van Strum & Towne Inc. lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,732 shares of the software maker’s stock after selling 92 shares during the quarter. Van Strum & Towne Inc.’s holdings in Cadence Design Systems were worth $520,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at $28,000. Versant Capital Management Inc boosted its holdings in shares of Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after purchasing an additional 87 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at $46,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of Cadence Design Systems by 56.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock valued at $45,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity

In other news, CFO John M. Wall sold 4,224 shares of Cadence Design Systems stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $309.03, for a total value of $1,305,342.72. Following the completion of the transaction, the chief financial officer now directly owns 29,248 shares of the company’s stock, valued at approximately $9,038,509.44. The trade was a 12.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $252.73, for a total transaction of $164,274.50. Following the completion of the transaction, the vice president now directly owns 58,123 shares of the company’s stock, valued at $14,689,425.79. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 105,245 shares of company stock valued at $32,534,498. Company insiders own 0.62% of the company’s stock.

Cadence Design Systems Price Performance

CDNS opened at $247.43 on Friday. The company has a 50-day moving average of $282.52 and a 200-day moving average of $284.12. The company has a market capitalization of $67.82 billion, a P/E ratio of 64.10, a PEG ratio of 3.88 and a beta of 1.05. Cadence Design Systems, Inc. has a 1-year low of $230.09 and a 1-year high of $328.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $325.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Robert W. Baird cut their target price on shares of Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Bank of America cut their target price on shares of Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, Mizuho raised their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average 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.