930 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Acquired by Fiduciary Family Office LLC

Key Points

• Fiduciary Family Office LLC purchased a new position in Cadence Design Systems, Inc. worth approximately $237,000, acquiring 930 shares during the first quarter.
• Multiple large investors, including Vanguard Group Inc. and Jennison Associates LLC, have increased their stakes in Cadence Design Systems, with 84.85% of the stock owned by institutional investors.
• Cadence Design Systems recently reported earnings with an EPS of $1.65, exceeding estimates, and a revenue increase of 20.2% year-over-year, indicating strong financial performance.

Fiduciary Family Office LLC bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 930 shares of the software maker's stock, valued at approximately $237,000.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of Cadence Design Systems by 31,049.1% during the first quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker's stock valued at $309,835,000 after purchasing an additional 1,214,330 shares in the last quarter. Jennison Associates LLC boosted its stake in Cadence Design Systems by 13.2% during the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock valued at $2,305,489,000 after buying an additional 1,054,702 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Cadence Design Systems by 25.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,937,675 shares of the software maker's stock valued at $882,655,000 after buying an additional 601,834 shares during the last quarter. Vanguard Group Inc. increased its stake in Cadence Design Systems by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after acquiring an additional 429,955 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cadence Design Systems by 10.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,416,269 shares of the software maker's stock valued at $1,326,912,000 after purchasing an additional 427,418 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Up 1.3%

Shares of CDNS traded up $4.52 during midday trading on Tuesday, hitting $353.61. The company had a trading volume of 1,263,038 shares, compared to its average volume of 1,964,507. The company's 50-day simple moving average is $321.68 and its 200-day simple moving average is $292.87. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The firm has a market capitalization of $96.36 billion, a P/E ratio of 95.57, a P/E/G ratio of 4.58 and a beta of 0.97. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45.

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, beating the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the business posted $1.28 EPS. The business's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $358.72, for a total transaction of $358,720.00. Following the transaction, the vice president directly owned 104,499 shares in the company, valued at $37,485,881.28. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James D. Plummer sold 868 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $319.95, for a total transaction of $277,716.60. Following the sale, the director directly owned 23,996 shares in the company, valued at approximately $7,677,520.20. This represents a 3.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,698 shares of company stock worth $1,485,387 in the last ninety days. 0.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, July 30th. The Goldman Sachs Group started coverage on shares of Cadence Design Systems in a research report on Thursday, July 10th. They set a "buy" rating and a $380.00 price target for the company. Bank of America raised their price objective on Cadence Design Systems from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Mizuho raised their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $364.33.

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.