Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $191,750.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $295.00, for a total value of $191,750.00. Following the completion of the sale, the vice president now directly owns 66,494 shares of the company’s stock, valued at $19,615,730. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, May 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $275.36, for a total value of $275,360.00.
• On Monday, April 1st, Paul Cunningham sold 1,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $310.46, for a total value of $310,460.00.

Cadence Design Systems Trading Up 1.5 %

CDNS opened at $312.10 on Friday. The stock’s fifty day moving average is $291.45 and its two-hundred day moving average is $290.39. The company has a market capitalization of $85.02 billion, a P/E ratio of 81.28, a PEG ratio of 3.76 and a beta of 1.04. Cadence Design Systems, Inc. has a 52 week low of $217.77 and a 52 week high of $327.36. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.08.

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, topping the consensus estimate of $1.13 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. Cadence Design Systems’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $1.02 EPS. Analysts forecast that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CDNS. HighTower Advisors LLC increased its holdings in shares of Cadence Design Systems by 3.8% in the 3rd quarter. HighTower Advisors LLC now owns 33,009 shares of the software maker’s stock valued at $7,726,000 after acquiring an additional 1,203 shares during the period. Fiera Capital Corp increased its holdings in shares of Cadence Design Systems by 1.4% in the 3rd quarter. Fiera Capital Corp now owns 20,125 shares of the software maker’s stock valued at $4,715,000 after acquiring an additional 276 shares during the period. Catalyst Capital Advisors LLC increased its holdings in shares of Cadence Design Systems by 34.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock valued at $47,000 after acquiring an additional 52 shares during the period. Atomi Financial Group Inc. purchased a new position in shares of Cadence Design Systems in the 3rd quarter valued at $212,000. Finally, E Fund Management Co. Ltd. increased its holdings in shares of Cadence Design Systems by 7.1% in the 3rd quarter. E Fund Management Co. Ltd. now owns 5,034 shares of the software maker’s stock valued at $1,179,000 after acquiring an additional 333 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Bank of America raised their price target on Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Piper Sandler decreased their price target on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company raised their price target on Cadence Design Systems from $330.00 to $350.00 and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.11.

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.