Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by Greenleaf Trust

Greenleaf Trust boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,012 shares of the software maker’s stock after purchasing an additional 445 shares during the quarter. Greenleaf Trust’s holdings in Cadence Design Systems were worth $1,629,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. RiverPark Advisors LLC purchased a new position in shares of Cadence Design Systems in the 1st quarter valued at $26,000. ORG Partners LLC increased 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 purchasing an additional 82 shares in the last quarter. Annapolis Financial Services LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter valued at about $32,000. Hollencrest Capital Management grew its stake in Cadence Design Systems by 637.5% during the 1st 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 last quarter. Finally, Chilton Capital Management LLC increased its position in Cadence Design Systems by 244.0% during the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock worth $53,000 after buying an additional 122 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CDNS shares. Berenberg Bank began coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Monday, October 7th. Robert W. Baird reduced their target price on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Oppenheimer initiated coverage on Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.42.

Insider Buying and Selling

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00. Following the completion of the transaction, the director now directly owns 45,051 shares of the company’s stock, valued at approximately $12,444,888.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Chin-Chi Teng sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $276.36, for a total value of $2,763,600.00. Following the sale, the vice president now owns 95,408 shares of the company’s stock, valued at approximately $26,366,954.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $276.24, for a total value of $414,360.00. Following the transaction, the director now directly owns 45,051 shares of the company’s stock, valued at $12,444,888.24. The trade was a 0.00 % decrease in their position. 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 in the last quarter. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $249.09 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. 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 capitalization of $67.86 billion, a P/E ratio of 64.87, a PEG ratio of 3.37 and a beta of 1.02. The company’s fifty day moving average is $268.47 and its two-hundred day moving average is $283.48.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, topping 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 analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts forecast that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

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.