Atria Wealth Solutions Inc. Sells 2,770 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Atria Wealth Solutions Inc. reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 9.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,301 shares of the software maker's stock after selling 2,770 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Cadence Design Systems were worth $6,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after purchasing an additional 676 shares during the last quarter. Highview Capital Management LLC DE increased its stake in shares of Cadence Design Systems by 2.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock valued at $1,894,000 after acquiring an additional 163 shares during the last quarter. Cerity Partners LLC raised its position in shares of Cadence Design Systems by 10.3% in the 4th quarter. Cerity Partners LLC now owns 16,798 shares of the software maker's stock valued at $4,815,000 after acquiring an additional 1,573 shares during the period. Bessemer Group Inc. boosted its stake in Cadence Design Systems by 24.8% during the 4th quarter. Bessemer Group Inc. now owns 623,112 shares of the software maker's stock worth $187,221,000 after acquiring an additional 123,744 shares during the last quarter. Finally, Scotia Capital Inc. grew its holdings in Cadence Design Systems by 196.3% during the fourth quarter. Scotia Capital Inc. now owns 6,755 shares of the software maker's stock valued at $2,030,000 after purchasing an additional 4,475 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CDNS. The Goldman Sachs Group started coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 target price on the stock. Stifel Nicolaus boosted their target price on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 price target on Cadence Design Systems in a research report on Wednesday, July 30th. KeyCorp increased their target price on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Bank of America lifted their price target on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director James D. Plummer sold 868 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $319.95, for a total value of $277,716.60. Following the sale, the director owned 23,996 shares in the company, valued at $7,677,520.20. This represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following the transaction, the director directly owned 8,010 shares in the company, valued at $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,698 shares of company stock worth $1,485,387 over the last quarter. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Trading Down 0.1%

Shares of NASDAQ:CDNS opened at $360.16 on Thursday. The company's 50-day moving average price is $315.17 and its two-hundred day moving average price is $291.58. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The stock has a market capitalization of $98.14 billion, a PE ratio of 97.34, a price-to-earnings-growth ratio of 4.73 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%. The business's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

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.

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