Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC raised its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 106.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,014 shares of the software maker’s stock after buying an additional 48,886 shares during the period. Segall Bryant & Hamill LLC’s holdings in Cadence Design Systems were worth $25,752,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB purchased a new position in shares of Cadence Design Systems in the first quarter valued at approximately $439,988,000. Principal Financial Group Inc. lifted its holdings in Cadence Design Systems by 280.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,519,661 shares of the software maker’s stock worth $467,676,000 after buying an additional 1,119,824 shares in the last quarter. Van ECK Associates Corp boosted its position in Cadence Design Systems by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock valued at $689,472,000 after buying an additional 572,251 shares during the period. Meridiem Investment Management Ltd. acquired a new position in shares of Cadence Design Systems in the third quarter worth $129,285,000. Finally, 1832 Asset Management L.P. increased its position in shares of Cadence Design Systems by 111.5% during the first quarter. 1832 Asset Management L.P. now owns 856,410 shares of the software maker’s stock worth $266,583,000 after acquiring an additional 451,530 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, SVP Karna Nisewaner sold 659 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $181,870.82. Following the completion of the sale, the senior vice president now directly owns 16,029 shares of the company’s stock, valued at approximately $4,423,683.42. This trade represents a 3.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $266.89, for a total value of $173,478.50. Following the completion of the transaction, the vice president now owns 64,544 shares in the company, valued at $17,226,148.16. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,634 shares of company stock worth $4,217,635. 0.62% of the stock is owned by insiders.

Cadence Design Systems Price Performance

Shares of CDNS opened at $299.63 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The stock has a market cap of $82.18 billion, a PE ratio of 78.64, a price-to-earnings-growth ratio of 3.93 and a beta of 1.02. The firm has a fifty day moving average price of $276.20 and a 200 day moving average price of $283.13.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. As a group, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of recent research reports. Berenberg Bank assumed coverage on Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price for the company. Oppenheimer began coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective for the company. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a research note on Tuesday, August 6th. Mizuho initiated coverage on shares of Cadence Design Systems in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price target for the company. Finally, Loop Capital began coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average target price of $326.00.

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.