Everpar Advisors LLC Makes New Investment in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Everpar Advisors LLC purchased a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,164 shares of the software maker’s stock, valued at approximately $317,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley National Advisers Inc. boosted its stake in shares of Cadence Design Systems by 90.4% in the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after acquiring an additional 47 shares during the period. Fortitude Family Office LLC bought a new position in shares of Cadence Design Systems in the fourth quarter worth about $28,000. OFI Invest Asset Management bought a new position in shares of Cadence Design Systems in the third quarter worth about $26,000. Rakuten Securities Inc. bought a new position in shares of Cadence Design Systems in the fourth quarter worth about $45,000. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Cadence Design Systems by 34.7% in the third quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock worth $47,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CDNS shares. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research note on Friday, April 19th. KeyCorp increased their price target on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research note on Monday, April 22nd. Finally, Wells Fargo & Company increased their price target on Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.11.

Insider Transactions at Cadence Design Systems

In other news, VP Aneel Zaman sold 1,207 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total value of $366,807.30. Following the sale, the vice president now directly owns 61,150 shares in the company, valued at $18,583,485. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $310.46, for a total transaction of $186,276.00. Following the transaction, the senior vice president now directly owns 21,080 shares in the company, valued at approximately $6,544,496.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Aneel Zaman sold 1,207 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total value of $366,807.30. Following the transaction, the vice president now owns 61,150 shares in the company, valued at $18,583,485. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,066 shares of company stock worth $52,199,975. 0.62% of the stock is currently owned by company insiders.

Cadence Design Systems Trading Down 0.5 %

Shares of NASDAQ:CDNS traded down $1.47 during trading on Wednesday, hitting $282.57. The company had a trading volume of 1,236,974 shares, compared to its average volume of 1,566,338. The stock has a market cap of $76.90 billion, a price-to-earnings ratio of 73.59, a price-to-earnings-growth ratio of 3.32 and a beta of 1.06. Cadence Design Systems, Inc. has a one year low of $198.92 and a one year high of $327.36. The company has a fifty day simple moving average of $301.33 and a two-hundred day simple moving average of $283.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 4.78 earnings per share for the current year.

About Cadence Design Systems

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.