Waldron Private Wealth LLC Sells 146 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Waldron Private Wealth LLC trimmed its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 895 shares of the software maker’s stock after selling 146 shares during the period. Waldron Private Wealth LLC’s holdings in Cadence Design Systems were worth $243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Leo Wealth LLC boosted its holdings in Cadence Design Systems by 6.6% during the third quarter. Leo Wealth LLC now owns 780 shares of the software maker’s stock valued at $211,000 after acquiring an additional 48 shares during the period. Signaturefd LLC boosted its stake in Cadence Design Systems by 4.3% during the 3rd quarter. Signaturefd LLC now owns 10,808 shares of the software maker’s stock valued at $2,929,000 after purchasing an additional 445 shares during the period. Dock Street Asset Management Inc. grew its holdings in Cadence Design Systems by 1.2% in the 3rd quarter. Dock Street Asset Management Inc. now owns 71,898 shares of the software maker’s stock valued at $19,487,000 after buying an additional 869 shares during the last quarter. Kessler Investment Group LLC increased its position in Cadence Design Systems by 18.4% in the 3rd quarter. Kessler Investment Group LLC now owns 10,514 shares of the software maker’s stock worth $2,850,000 after buying an additional 1,637 shares during the period. Finally, Venture Visionary Partners LLC lifted its holdings in shares of Cadence Design Systems by 2.5% during the third quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock worth $463,000 after buying an additional 41 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $249.09 on Thursday. The stock’s fifty day simple moving average is $268.47 and its 200 day simple moving average is $283.48. Cadence Design Systems, Inc. has a one year low of $228.66 and a one year high of $328.99. The firm has a market cap of $67.86 billion, a price-to-earnings ratio of 64.87, a P/E/G ratio of 3.37 and a beta of 1.02. 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 issued its earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. 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 company earned $0.94 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts expect that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Oppenheimer began coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Monday, October 7th. KeyCorp lifted their target price on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird reduced their price objective on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.42.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the sale, the director now directly owns 42,051 shares in the company, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Karna Nisewaner sold 1,213 shares of Cadence Design Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $279.49, for a total value of $339,021.37. Following the completion of the transaction, the senior vice president now directly owns 17,617 shares of the company’s stock, valued at $4,923,775.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,347 shares of company stock worth $7,728,272 over the last ninety days. Corporate insiders own 1.99% of the company’s stock.

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.