Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,056 shares of the software maker's stock after selling 4,232 shares during the period. Nisa Investment Advisors LLC's holdings in Cadence Design Systems were worth $34,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Cadence Design Systems during the first quarter valued at $25,000. Valley National Advisers Inc. grew its holdings in shares of Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock valued at $28,000 after buying an additional 99 shares during the last quarter. Ancora Advisors LLC increased its holdings in Cadence Design Systems by 1,400.0% in 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 period. Avalon Trust Co acquired a new position in Cadence Design Systems in the 4th quarter worth approximately $39,000. Finally, OFI Invest Asset Management acquired a new position in Cadence Design Systems in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CDNS. Mizuho increased their price target on shares of Cadence Design Systems from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Oppenheimer cut their price target on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a report on Wednesday, March 19th. KeyCorp lifted their price objective on Cadence Design Systems from $340.00 to $358.00 and gave the company an "overweight" rating in a research note on Thursday. Rosenblatt Securities lifted their price objective on Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their price objective on Cadence Design Systems from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Cadence Design Systems currently has an average rating of "Moderate Buy" and an average price target of $327.93.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $306.35, for a total transaction of $306,350.00. Following the transaction, the vice president owned 105,499 shares of the company's stock, valued at approximately $32,319,618.65. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction dated 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 approximately $2,435,040. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,975 shares of company stock valued at $6,114,587 over the last three months. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Up 0.1%

CDNS traded up $0.21 during trading hours on Thursday, hitting $323.12. 686,449 shares of the company's stock were exchanged, compared to its average volume of 2,030,670. The company has a current ratio of 3.07, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52. The firm has a market cap of $88.22 billion, a P/E ratio of 81.79, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. The firm has a 50 day moving average of $307.12 and a 200 day moving average of $287.35. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $330.09.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly 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. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Cadence Design Systems had a return on equity of 29.36% and a net margin of 22.18%. Cadence Design Systems's revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. Analysts predict 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.