GTS Securities LLC Has $805,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

GTS Securities LLC reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 74.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,679 shares of the software maker's stock after selling 7,772 shares during the quarter. GTS Securities LLC's holdings in Cadence Design Systems were worth $805,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $28,000. Ancora Advisors LLC grew its position in shares of Cadence Design Systems by 1,400.0% in the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock valued at $36,000 after purchasing an additional 112 shares during the period. Avalon Trust Co acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $39,000. OFI Invest Asset Management acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $46,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at approximately $50,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Cadence Design Systems from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Robert W. Baird upped their price target on Cadence Design Systems from $293.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Bank of America upped their price target 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. Loop Capital reduced their price target on Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Finally, Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and an average price target of $325.23.

Cadence Design Systems Stock Down 0.7%

Shares of Cadence Design Systems stock traded down $2.00 on Friday, reaching $282.50. 849,520 shares of the company were exchanged, compared to its average volume of 2,014,887. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $328.99. The company has a market capitalization of $77.13 billion, a price-to-earnings ratio of 73.04, a PEG ratio of 3.88 and a beta of 1.04. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $282.52 and a 200 day moving average of $287.74.

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 for the quarter, beating analysts' consensus estimates of $1.50 by $0.07. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same quarter in the prior year, the business earned $1.17 EPS. The firm's revenue for the quarter was up 23.1% on a year-over-year basis. On average, equities research analysts forecast 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 news, CEO Anirudh Devgan sold 10,737 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 209,548 shares of the company's stock, valued at approximately $64,959,880. This represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James D. Plummer sold 868 shares of the stock in a transaction 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 now directly owns 23,996 shares in the company, valued at approximately $7,677,520.20. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,445 shares of company stock valued at $5,594,127 in the last ninety days. 1.99% of the stock is currently owned by corporate insiders.

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.