Bleakley Financial Group LLC Sells 56 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Bleakley Financial Group LLC cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,701 shares of the software maker’s stock after selling 56 shares during the quarter. Bleakley Financial Group LLC’s holdings in Cadence Design Systems were worth $3,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Capital Investment Advisors LLC lifted its holdings in shares of Cadence Design Systems by 37.0% during the fourth quarter. Capital Investment Advisors LLC now owns 2,838 shares of the software maker’s stock valued at $773,000 after purchasing an additional 767 shares during the last quarter. Bartlett & Co. LLC bought a new position in shares of Cadence Design Systems during the fourth quarter valued at $466,000. Nordea Investment Management AB increased its stake in Cadence Design Systems by 124.8% during the 4th quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock valued at $515,995,000 after purchasing an additional 1,052,228 shares in the last quarter. Marcum Wealth LLC raised its holdings in Cadence Design Systems by 7.3% in the 4th quarter. Marcum Wealth LLC now owns 1,159 shares of the software maker’s stock worth $316,000 after acquiring an additional 79 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Cadence Design Systems in the fourth quarter worth $55,443,000. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $305.84, for a total transaction of $3,058,400.00. Following the completion of the transaction, the vice president now owns 95,408 shares in the company, valued at $29,179,582.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $287.14, for a total transaction of $430,710.00. Following the transaction, the director now owns 49,551 shares in the company, valued at $14,228,074.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Chin-Chi Teng sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $305.84, for a total transaction of $3,058,400.00. Following the completion of the sale, the vice president now directly owns 95,408 shares of the company’s stock, valued at approximately $29,179,582.72. The disclosure for this sale can be found here. Insiders sold 48,634 shares of company stock worth $14,515,238 in the last quarter. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS traded down $23.61 during midday trading on Wednesday, reaching $288.12. 3,558,458 shares of the company were exchanged, compared to its average volume of 1,541,835. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The stock has a market cap of $78.49 billion, a PE ratio of 76.69, a price-to-earnings-growth ratio of 3.86 and a beta of 1.03. The business’s fifty day moving average is $303.00 and its two-hundred day moving average is $297.52. Cadence Design Systems, Inc. has a one year low of $217.77 and a one year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The business’s revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CDNS. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Monday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a report on Friday, May 17th. Wells Fargo & Company raised their target price on Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Robert W. Baird raised their price objective on shares of Cadence Design Systems from $322.00 to $341.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Finally, Bank of America boosted their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $334.89.

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.