Wealthcare Advisory Partners LLC Raises Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Wealthcare Advisory Partners LLC boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.5% in the 1st quarter, Holdings Channel reports. The firm owned 951 shares of the software maker’s stock after purchasing an additional 41 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cadence Design Systems were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. DGS Capital Management LLC raised its position in Cadence Design Systems by 11.2% in the 1st quarter. DGS Capital Management LLC now owns 7,462 shares of the software maker’s stock valued at $2,323,000 after purchasing an additional 750 shares during the last quarter. Brookstone Capital Management raised its position in Cadence Design Systems by 15.4% in the 1st quarter. Brookstone Capital Management now owns 1,037 shares of the software maker’s stock valued at $323,000 after purchasing an additional 138 shares during the last quarter. Sunbelt Securities Inc. raised its position in Cadence Design Systems by 18.7% in the 1st quarter. Sunbelt Securities Inc. now owns 865 shares of the software maker’s stock valued at $269,000 after purchasing an additional 136 shares during the last quarter. Riverview Trust Co acquired a new position in Cadence Design Systems in the 1st quarter valued at $124,000. Finally, Annex Advisory Services LLC increased its stake in Cadence Design Systems by 74.1% in the 1st quarter. Annex Advisory Services LLC now owns 2,350 shares of the software maker’s stock valued at $732,000 after buying an additional 1,000 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, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $309.09, for a total transaction of $463,635.00. Following the completion of the transaction, the director now directly owns 48,051 shares in the company, valued at approximately $14,852,083.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the sale, the senior vice president now directly owns 20,480 shares of the company’s stock, valued at approximately $5,639,372.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $309.09, for a total transaction of $463,635.00. Following the sale, the director now directly owns 48,051 shares in the company, valued at $14,852,083.59. The disclosure for this sale can be found here. In the last three months, insiders sold 39,534 shares of company stock worth $11,735,433. 0.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CDNS has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research note on Friday, May 17th. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research note on Monday, April 22nd. Bank of America boosted their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $332.78.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $310.92 on Tuesday. The company has a 50-day simple moving average of $294.50 and a 200-day simple moving average of $293.96. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $84.70 billion, a PE ratio of 80.97, a P/E/G ratio of 3.77 and a beta of 1.03. Cadence Design Systems, Inc. has a 52-week low of $217.77 and a 52-week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm posted $1.02 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts predict that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current fiscal 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.