Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham Sells 650 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $252.73, for a total value of $164,274.50. Following the sale, the vice president now directly owns 58,123 shares in the company, valued at $14,689,425.79. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Paul Cunningham also recently made the following trade(s):

• On Monday, February 3rd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $292.32, for a total value of $190,008.00.
• On Thursday, January 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The shares were sold at an average price of $304.84, for a total transaction of $198,146.00.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $244.70 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27. The company has a market cap of $67.07 billion, a P/E ratio of 63.39, a P/E/G ratio of 3.88 and a beta of 1.03. The stock has a 50-day moving average of $291.22 and a two-hundred day moving average of $285.98. Cadence Design Systems, Inc. has a 1-year low of $233.72 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Institutional Trading of Cadence Design Systems

Several hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in Cadence Design Systems by 12.4% in the fourth quarter. Avior Wealth Management LLC now owns 326 shares of the software maker’s stock valued at $98,000 after buying an additional 36 shares during the last quarter. Accredited Investors Inc. increased its holdings in shares of Cadence Design Systems by 1.7% in the 4th quarter. Accredited Investors Inc. now owns 2,176 shares of the software maker’s stock valued at $654,000 after acquiring an additional 36 shares during the period. Principal Street Partners LLC raised its holdings in shares of Cadence Design Systems by 2.6% in the fourth quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker’s stock valued at $437,000 after buying an additional 37 shares during the last quarter. Lindbrook Capital LLC lifted its position in Cadence Design Systems by 1.7% during the 4th quarter. Lindbrook Capital LLC now owns 2,230 shares of the software maker’s stock worth $670,000 after acquiring an additional 38 shares during the period. Finally, Oarsman Capital Inc. increased its holdings in shares of Cadence Design Systems by 3.8% in the fourth quarter. Oarsman Capital Inc. now owns 1,042 shares of the software maker’s stock valued at $313,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CDNS shares. Rosenblatt Securities upped their price objective on shares of Cadence Design Systems from $280.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Loop Capital lowered their price target on Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Redburn Atlantic initiated coverage on Cadence Design Systems in a research report on Monday, January 13th. They issued a “buy” rating and a $350.00 price objective for the company. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $325.00 target price on shares of Cadence Design Systems in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $326.92.

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.