Coldstream Capital Management Inc. Acquires 872 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Coldstream Capital Management Inc. grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 11.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,642 shares of the software maker's stock after buying an additional 872 shares during the quarter. Coldstream Capital Management Inc.'s holdings in Cadence Design Systems were worth $2,596,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC raised its position in shares of Cadence Design Systems by 5.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 7,299 shares of the software maker's stock worth $2,193,000 after purchasing an additional 405 shares during the last quarter. Hancock Whitney Corp lifted its position in Cadence Design Systems by 1.6% during the 4th quarter. Hancock Whitney Corp now owns 5,149 shares of the software maker's stock worth $1,547,000 after acquiring an additional 83 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Cadence Design Systems by 24.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,123 shares of the software maker's stock worth $638,000 after purchasing an additional 411 shares during the period. J. Stern & Co. LLP raised its holdings in shares of Cadence Design Systems by 53.4% in the fourth quarter. J. Stern & Co. LLP now owns 8,543 shares of the software maker's stock worth $2,567,000 after acquiring an additional 2,973 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its holdings in Cadence Design Systems by 71.1% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 6,620 shares of the software maker's stock valued at $1,989,000 after purchasing an additional 2,750 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Scannell sold 4,710 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $300.00, for a total value of $1,413,000.00. Following the transaction, the vice president now directly owns 28,442 shares of the company's stock, valued at $8,532,600. This represents a 14.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $252.73, for a total transaction of $164,274.50. Following the completion of the transaction, the vice president now owns 58,123 shares in the company, valued at $14,689,425.79. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,840 shares of company stock valued at $1,980,999 over the last 90 days. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Stock Up 2.4 %

Shares of CDNS traded up $7.26 during midday trading on Friday, reaching $306.99. The stock had a trading volume of 919,793 shares, compared to its average volume of 1,948,258. The company's fifty day simple moving average is $257.13 and its two-hundred day simple moving average is $282.53. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $328.99. 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 $84.21 billion, a price-to-earnings ratio of 79.57, a PEG ratio of 3.88 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.07. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter last year, the business posted $1.17 EPS. The firm's quarterly revenue was up 23.1% compared to the same quarter last year. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CDNS. Rosenblatt Securities upped their price objective on Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday. StockNews.com downgraded shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Redburn Atlantic initiated coverage on Cadence Design Systems in a report on Monday, January 13th. They set a "buy" rating and a $350.00 target price on the stock. Robert W. Baird increased their price target on shares of Cadence Design Systems from $293.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Bank of America raised their target price on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $322.54.

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.