Mather Group LLC. Sells 101 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mather Group LLC. trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,881 shares of the software maker’s stock after selling 101 shares during the period. Mather Group LLC.’s holdings in Cadence Design Systems were worth $1,602,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in Cadence Design Systems during the third quarter worth approximately $26,000. Valley National Advisers Inc. increased its position in Cadence Design Systems by 90.4% during the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after buying an additional 47 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Cadence Design Systems during the fourth quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new position in Cadence Design Systems during the fourth quarter worth approximately $45,000. Finally, Catalyst Capital Advisors LLC increased its position in Cadence Design Systems by 34.7% during the third quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock worth $47,000 after buying an additional 52 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $299.42, for a total value of $449,130.00. Following the completion of the transaction, the director now directly owns 53,183 shares in the company, valued at approximately $15,924,053.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Karna Nisewaner sold 600 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $310.46, for a total value of $186,276.00. Following the sale, the senior vice president now directly owns 21,080 shares in the company, valued at $6,544,496.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $299.42, for a total transaction of $449,130.00. Following the transaction, the director now owns 53,183 shares of the company’s stock, valued at approximately $15,924,053.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,044 shares of company stock worth $52,231,207. Insiders own 0.62% of the company’s stock.

Cadence Design Systems Stock Up 0.0 %

NASDAQ CDNS opened at $282.49 on Tuesday. The business has a fifty day moving average price of $303.69 and a two-hundred day moving average price of $281.82. 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, Inc. has a fifty-two week low of $198.92 and a fifty-two week high of $327.36. The stock has a market capitalization of $76.87 billion, a PE ratio of 73.57, a PEG ratio of 3.32 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company earned $1.02 EPS. Cadence Design Systems’s revenue was down 1.2% compared to the same quarter last year. Equities analysts expect that Cadence Design Systems, Inc. will post 4.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a research report on Friday, April 19th. Robert W. Baird upped their target price on Cadence Design Systems from $302.00 to $322.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Morgan Stanley raised Cadence Design Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $260.00 to $350.00 in a research report on Wednesday, February 14th. Finally, KeyCorp upped their target price on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.11.

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.