Benjamin F. Edwards & Company Inc. Has $1.71 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Benjamin F. Edwards & Company Inc. grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 41.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,272 shares of the software maker’s stock after acquiring an additional 1,841 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Cadence Design Systems were worth $1,708,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB boosted its position in shares of Cadence Design Systems by 124.8% in the fourth quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock valued at $515,995,000 after acquiring an additional 1,052,228 shares during the period. Wellington Management Group LLP grew its position in shares of Cadence Design Systems by 143.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,634,920 shares of the software maker’s stock worth $383,062,000 after purchasing an additional 962,987 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Cadence Design Systems by 8.7% during the third quarter. Jennison Associates LLC now owns 7,047,231 shares of the software maker’s stock worth $1,651,166,000 after purchasing an additional 564,085 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Cadence Design Systems by 261.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 620,561 shares of the software maker’s stock valued at $169,022,000 after buying an additional 448,918 shares during the period. Finally, International Assets Investment Management LLC grew its position in Cadence Design Systems by 26,060.9% during the fourth quarter. International Assets Investment Management LLC now owns 278,090 shares of the software maker’s stock worth $757,430,000 after buying an additional 277,027 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Activity

In other Cadence Design Systems news, VP Aneel Zaman sold 1,207 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $303.90, for a total transaction of $366,807.30. Following the completion of the sale, the vice president now owns 61,150 shares of the company’s stock, valued at approximately $18,583,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 completion of the sale, the senior vice president now directly owns 21,080 shares of the company’s stock, valued at approximately $6,544,496.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Aneel Zaman sold 1,207 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total transaction of $366,807.30. Following the sale, the vice president now owns 61,150 shares of the company’s stock, valued at approximately $18,583,485. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,566 shares of company stock valued at $52,649,105. Company insiders own 0.62% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $281.63 on Monday. The stock’s 50-day moving average is $302.02 and its 200-day moving average is $282.59. The stock has a market cap of $76.64 billion, a P/E ratio of 73.34, a price-to-earnings-growth ratio of 3.32 and a beta of 1.06. Cadence Design Systems, Inc. has a 1-year low of $198.92 and a 1-year high of $327.36. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (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 firm 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 posted $1.02 EPS. The company’s revenue was down 1.2% on a year-over-year basis. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CDNS shares. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley upgraded shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $260.00 to $350.00 in a research report on Wednesday, February 14th. Stifel Nicolaus raised their target price on Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Piper Sandler lowered their price target on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.11.

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.