1,734 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Bought by Vega Investment Solutions

Vega Investment Solutions bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,734 shares of the software maker's stock, valued at approximately $521,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in Cadence Design Systems during the 4th quarter worth $28,000. Ancora Advisors LLC lifted its holdings in Cadence Design Systems by 1,400.0% during the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after buying an additional 112 shares during the last quarter. Avalon Trust Co purchased a new stake in Cadence Design Systems during the 4th quarter worth about $39,000. OFI Invest Asset Management purchased a new stake in Cadence Design Systems during the 4th quarter worth about $46,000. Finally, Synergy Investment Management LLC purchased a new stake in Cadence Design Systems during the 4th quarter worth about $50,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Stock Down 0.3%

Cadence Design Systems stock opened at $316.63 on Friday. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $328.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The company has a market capitalization of $86.45 billion, a P/E ratio of 82.03, a PEG ratio of 3.88 and a beta of 1.04. The stock has a 50-day simple moving average of $277.99 and a 200-day simple moving average of $287.50.

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, beating the consensus estimate of $1.50 by $0.07. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The firm's revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 EPS. Equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 10,737 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $310.00, for a total transaction of $3,328,470.00. Following the transaction, the chief executive officer now owns 209,548 shares in the company, valued at approximately $64,959,880. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Paul Cunningham sold 650 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $252.64, for a total value of $164,216.00. Following the transaction, the vice president now owns 108,799 shares in the company, valued at $27,486,979.36. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,445 shares of company stock valued at $5,594,127 in the last ninety days. Insiders own 1.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CDNS. Oppenheimer decreased their price target on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a report on Wednesday, March 19th. Wells Fargo & Company lifted their price target on Cadence Design Systems from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Loop Capital decreased their price target on Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Bank of America lifted their price target on Cadence Design Systems from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Robert W. Baird lifted their price target on Cadence Design Systems from $293.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $325.23.

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.

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