Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,244 shares of the software maker’s stock after selling 202 shares during the period. Hartford Investment Management Co.’s holdings in Cadence Design Systems were worth $4,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Market Strategies LLC raised its holdings in shares of Cadence Design Systems by 3.1% during the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock worth $400,000 after purchasing an additional 39 shares during the period. Inspire Advisors LLC lifted its holdings in Cadence Design Systems by 1.8% in the first quarter. Inspire Advisors LLC now owns 2,229 shares of the software maker’s stock worth $694,000 after acquiring an additional 40 shares during the last quarter. Trust Point Inc. boosted its stake in Cadence Design Systems by 2.9% in the third quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after acquiring an additional 40 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in shares of Cadence Design Systems by 4.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock valued at $296,000 after purchasing an additional 41 shares during the last quarter. Finally, Venture Visionary Partners LLC raised its position in shares of Cadence Design Systems by 2.5% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock worth $463,000 after purchasing an additional 41 shares during the period. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the completion of the transaction, the director now owns 42,051 shares in the company, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total value of $177,736.00. Following the transaction, the vice president now owns 61,761 shares of the company’s stock, valued at approximately $16,887,927.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the sale, the director now owns 42,051 shares in the company, valued at approximately $11,928,186.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,347 shares of company stock valued at $7,728,272 over the last three months. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Down 1.0 %

Cadence Design Systems stock opened at $249.09 on Thursday. Cadence Design Systems, Inc. has a 12-month low of $228.66 and a 12-month high of $328.99. The stock has a market capitalization of $67.86 billion, a PE ratio of 64.87, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. The firm has a 50 day simple moving average of $268.47 and a 200-day simple moving average of $283.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on CDNS. Berenberg Bank began coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a report on Monday, October 7th. KeyCorp boosted their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Mizuho assumed coverage on shares of Cadence Design Systems in a research note on Tuesday. They issued an “outperform” rating and a $325.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.42.

Cadence Design Systems 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.