Capital Investment Advisory Services LLC Buys 110 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Capital Investment Advisory Services LLC grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,260 shares of the software maker’s stock after purchasing an additional 110 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Cadence Design Systems were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNS. OFI Invest Asset Management bought a new position in Cadence Design Systems during the third quarter worth about $26,000. Valley National Advisers Inc. boosted its position 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 valued at $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 valued at approximately $28,000. Rakuten Securities Inc. bought a new position in shares of Cadence Design Systems in the fourth quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC boosted its position 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 valued at $47,000 after acquiring an additional 52 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Monday, April 15th. The shares were sold at an average price of $308.83, for a total value of $463,245.00. Following the sale, the director now owns 50,183 shares in the company, valued at $15,498,015.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Monday, April 15th. The shares were sold at an average price of $308.83, for a total value of $463,245.00. Following the sale, the director now owns 50,183 shares in the company, valued at $15,498,015.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Beckley sold 65,268 shares of Cadence Design Systems stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the sale, the vice president now owns 156,156 shares in the company, valued at approximately $46,375,208.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 173,044 shares of company stock valued at $52,231,207. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research report on Friday, April 19th. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research report on Monday. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler lowered their target price on shares of Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $316.50.

Cadence Design Systems Trading Down 1.1 %

CDNS stock opened at $281.76 on Wednesday. The company has a market capitalization of $76.71 billion, a PE ratio of 73.38, a price-to-earnings-growth ratio of 3.47 and a beta of 1.04. Cadence Design Systems, Inc. has a one year low of $194.01 and a one year high of $327.36. The company’s 50 day moving average price is $304.84 and its two-hundred day moving average price is $280.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results 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 firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 33.53%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. As a group, analysts predict that Cadence Design Systems, Inc. will post 4.81 earnings per share for the current fiscal year.

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.