SageView Advisory Group LLC Buys New Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

SageView Advisory Group LLC bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,223 shares of the software maker’s stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in Cadence Design Systems by 8.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock valued at $140,000 after buying an additional 38 shares in the last quarter. Highview Capital Management LLC DE boosted its stake in Cadence Design Systems by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock valued at $1,411,000 after purchasing an additional 39 shares during the last quarter. Fiduciary Trust Co boosted its stake in Cadence Design Systems by 0.6% during the 4th quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker’s stock valued at $1,833,000 after purchasing an additional 39 shares during the last quarter. BSW Wealth Partners boosted its stake in Cadence Design Systems by 2.8% during the 4th quarter. BSW Wealth Partners now owns 1,624 shares of the software maker’s stock valued at $442,000 after purchasing an additional 44 shares during the last quarter. Finally, Optas LLC boosted its stake in Cadence Design Systems by 3.1% during the 4th quarter. Optas LLC now owns 1,565 shares of the software maker’s stock valued at $426,000 after purchasing an additional 47 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CDNS. KeyCorp lifted their price target on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Bank of America lifted their price target on Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Monday, April 22nd. Needham & Company LLC restated a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a research note on Friday, May 17th. Finally, StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.11.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 21,700 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $311.40, for a total transaction of $6,757,380.00. Following the sale, the chief financial officer now owns 41,035 shares of the company’s stock, valued at approximately $12,778,299. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $309.09, for a total transaction of $463,635.00. Following the sale, the director now owns 48,051 shares of the company’s stock, valued at approximately $14,852,083.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John M. Wall sold 21,700 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $311.40, for a total transaction of $6,757,380.00. Following the completion of the transaction, the chief financial officer now directly owns 41,035 shares in the company, valued at approximately $12,778,299. The disclosure for this sale can be found here. Insiders have sold 62,834 shares of company stock valued at $18,989,549 in the last 90 days. 0.62% of the stock is currently owned by company insiders.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $326.50 on Thursday. Cadence Design Systems, Inc. has a 12 month low of $217.77 and a 12 month 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. The business’s 50 day simple moving average is $292.41 and its 200 day simple moving average is $291.48. The company has a market cap of $88.95 billion, a price-to-earnings ratio of 85.03, a PEG ratio of 3.94 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a return on equity of 32.44% and a net margin of 25.68%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. Cadence Design Systems’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 4.77 EPS for the current year.

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.