Independent Advisor Alliance Has $452,000 Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Independent Advisor Alliance trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,666 shares of the software maker’s stock after selling 63 shares during the period. Independent Advisor Alliance’s holdings in Cadence Design Systems were worth $452,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Missouri Trust & Investment Co acquired a new position in shares of Cadence Design Systems during the third quarter worth approximately $27,000. ORG Partners LLC raised its position in shares of Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after acquiring an additional 82 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Cadence Design Systems during the third quarter valued at $28,000. Chilton Capital Management LLC boosted its holdings in Cadence Design Systems by 244.0% in the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after acquiring an additional 122 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in Cadence Design Systems by 30.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock valued at $55,000 after purchasing an additional 47 shares during the period. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

CDNS stock opened at $304.68 on Friday. The stock has a 50-day moving average price of $281.26 and a two-hundred day moving average price of $284.26. 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 $83.56 billion, a PE ratio of 79.97, a price-to-earnings-growth ratio of 4.24 and a beta of 1.02. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Cadence Design Systems’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. Equities analysts forecast that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total value of $413,970.00. Following the sale, the director now owns 43,551 shares in the company, valued at approximately $12,019,204.98. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,634 shares of company stock worth $1,558,535 over the last ninety days. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC dropped their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Oppenheimer began coverage on Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective for the company. Robert W. Baird raised their target price on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Finally, Berenberg Bank began coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems has an average 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.