Ossiam Purchases 71,235 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Ossiam raised its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 54.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,065 shares of the software maker's stock after buying an additional 71,235 shares during the period. Cadence Design Systems comprises approximately 2.0% of Ossiam's portfolio, making the stock its 20th largest position. Ossiam owned about 0.07% of Cadence Design Systems worth $60,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Cadence Design Systems during the fourth quarter valued at about $28,000. Avalon Trust Co purchased a new position in Cadence Design Systems during the 4th quarter valued at about $39,000. Versant Capital Management Inc raised its position in Cadence Design Systems by 164.2% during the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock valued at $42,000 after purchasing an additional 87 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Cadence Design Systems in the 4th quarter worth approximately $46,000. Finally, Synergy Investment Management LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter worth approximately $50,000. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CDNS. StockNews.com cut shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Bank of America lowered their price objective on shares of Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Redburn Atlantic assumed coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a "buy" rating and a $350.00 target price for the company. Robert W. Baird reduced their price target on Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Finally, Piper Sandler boosted their target price on shares of Cadence Design Systems from $318.00 to $328.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $321.00.

Cadence Design Systems Stock Performance

Shares of CDNS stock traded up $16.18 during trading hours on Thursday, reaching $281.60. The company had a trading volume of 1,209,532 shares, compared to its average volume of 1,928,748. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $328.99. The firm has a market cap of $77.25 billion, a PE ratio of 73.02, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14. The business has a fifty day moving average price of $255.02 and a 200-day moving average price of $281.85.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.33). The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total value of $164,216.00. Following the completion of the sale, the vice president now owns 108,799 shares in the company, valued at $27,486,979.36. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 1,950 shares of company stock valued at $518,499. 1.99% of the stock is owned by company insiders.

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.