Fidelis Capital Partners LLC Grows Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Fidelis Capital Partners LLC grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 19.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,368 shares of the software maker’s stock after buying an additional 696 shares during the period. Fidelis Capital Partners LLC’s holdings in Cadence Design Systems were worth $1,344,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CDNS. Ulland Investment Advisors LLC purchased a new position in Cadence Design Systems in the first quarter worth about $25,000. RiverPark Advisors LLC bought a new position in shares of Cadence Design Systems during the 1st quarter valued at approximately $26,000. ORG Partners LLC raised its holdings in Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares during the period. Annapolis Financial Services LLC bought a new stake in Cadence Design Systems in the first quarter worth $32,000. Finally, Hollencrest Capital Management boosted its stake in Cadence Design Systems by 637.5% during the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after buying an additional 102 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction 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 transaction, the director now directly owns 43,551 shares in the company, valued at approximately $12,019,204.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $305.84, for a total value of $3,058,400.00. Following the completion of the sale, the vice president now directly owns 95,408 shares in the company, valued at $29,179,582.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $413,970.00. Following the completion of the transaction, the director now directly owns 43,551 shares in the company, valued at $12,019,204.98. The disclosure for this sale can be found here. Insiders sold a total of 38,272 shares of company stock worth $10,833,362 over the last 90 days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $273.76 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average price is $269.55 and its 200-day moving average price is $290.36. The firm has a market cap of $74.58 billion, a P/E ratio of 71.29, a P/E/G ratio of 3.19 and a beta of 1.02. Cadence Design Systems, Inc. has a 12 month low of $227.05 and a 12 month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CDNS. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, August 6th. Bank of America raised their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. KeyCorp upped their target price on Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Robert W. Baird dropped their price objective on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Finally, Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.56.

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.