Cerity Partners LLC Acquires 3,320 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Cerity Partners LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 27.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 15,225 shares of the software maker’s stock after acquiring an additional 3,320 shares during the period. Cerity Partners LLC’s holdings in Cadence Design Systems were worth $4,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Atria Investments Inc lifted its position in shares of Cadence Design Systems by 2.1% during the first quarter. Atria Investments Inc now owns 15,611 shares of the software maker’s stock worth $4,859,000 after acquiring an additional 322 shares in the last quarter. Cetera Investment Advisers boosted its stake in Cadence Design Systems by 117.9% in the 1st quarter. Cetera Investment Advisers now owns 49,816 shares of the software maker’s stock worth $15,507,000 after purchasing an additional 26,951 shares during the period. Cetera Advisors LLC grew its holdings in Cadence Design Systems by 124.4% during the 1st quarter. Cetera Advisors LLC now owns 18,521 shares of the software maker’s stock valued at $5,765,000 after buying an additional 10,268 shares in the last quarter. Transcend Capital Advisors LLC purchased a new stake in shares of Cadence Design Systems in the second quarter worth about $300,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Cadence Design Systems by 39.7% in the second quarter. GAMMA Investing LLC now owns 2,532 shares of the software maker’s stock worth $779,000 after buying an additional 719 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $306.81 on Friday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The stock has a market cap of $84.15 billion, a PE ratio of 80.53, a PEG ratio of 4.14 and a beta of 1.02. The company’s fifty day moving average is $281.92 and its 200 day moving average is $284.42. Cadence Design Systems, Inc. has a 52 week low of $241.29 and a 52 week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $1.01 EPS. Cadence Design Systems’s revenue for the quarter was up 18.8% on a year-over-year basis. Research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDNS. Loop Capital started coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 target price on the stock. Berenberg Bank started coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. Mizuho initiated coverage on Cadence Design Systems in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 target price on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Finally, Wells Fargo & Company initiated coverage on shares of Cadence Design Systems in a research report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average target price of $326.00.

Insider Activity

In other Cadence Design Systems news, SVP Karna Nisewaner sold 659 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $181,870.82. Following the completion of the transaction, the senior vice president now owns 16,029 shares of the company’s stock, valued at $4,423,683.42. This represents a 3.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred 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 completion of the sale, the director now owns 43,551 shares in the company, valued at approximately $12,019,204.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,634 shares of company stock valued at $1,558,535. 1.99% of the stock is currently owned by company insiders.

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.