1,158 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Acquired by Park Square Financial Group LLC

Park Square Financial Group LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,158 shares of the software maker's stock, valued at approximately $348,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CDNS. Principal Financial Group Inc. lifted its position in Cadence Design Systems by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 2,237,569 shares of the software maker's stock valued at $672,300,000 after acquiring an additional 216,075 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in Cadence Design Systems by 50.1% in the 4th quarter. Pittenger & Anderson Inc. now owns 5,289 shares of the software maker's stock valued at $1,589,000 after acquiring an additional 1,766 shares in the last quarter. Meridiem Investment Management Ltd. lifted its position in Cadence Design Systems by 64.3% in the 4th quarter. Meridiem Investment Management Ltd. now owns 783,906 shares of the software maker's stock valued at $235,625,000 after acquiring an additional 306,887 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in Cadence Design Systems by 80.6% in the 4th quarter. Citizens Financial Group Inc. RI now owns 8,058 shares of the software maker's stock valued at $2,421,000 after acquiring an additional 3,595 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cadence Design Systems by 4.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 209,463 shares of the software maker's stock valued at $62,935,000 after acquiring an additional 8,570 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 650 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $252.73, for a total value of $164,274.50. Following the transaction, the vice president now owns 58,123 shares in the company, valued at approximately $14,689,425.79. This represents a 1.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Plummer sold 868 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $319.95, for a total transaction of $277,716.60. Following the transaction, the director now owns 23,996 shares in the company, valued at approximately $7,677,520.20. The trade was a 3.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,445 shares of company stock worth $5,594,127. Insiders own 1.99% of the company's stock.

Analyst Upgrades and Downgrades

CDNS has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Mizuho boosted their price target on shares of Cadence Design Systems from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. KeyCorp boosted their price target on shares of Cadence Design Systems from $355.00 to $375.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $300.00 to $325.00 in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $325.23.

Cadence Design Systems Stock Performance

Shares of CDNS stock traded up $0.13 on Friday, reaching $284.63. The stock had a trading volume of 2,901,589 shares, compared to its average volume of 2,022,500. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The firm's 50-day moving average is $282.83 and its two-hundred day moving average is $287.65. The firm has a market capitalization of $77.72 billion, a price-to-earnings ratio of 73.74, a P/E/G ratio of 3.88 and a beta of 1.04. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $328.99.

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

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.