Kesler Norman & Wride LLC Invests $683,000 in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Kesler Norman & Wride LLC acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,685 shares of the software maker's stock, valued at approximately $683,000.

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 in the 1st quarter valued at approximately $25,000. Valley National Advisers Inc. raised its stake in Cadence Design Systems by 707.1% during the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after acquiring an additional 99 shares in the last quarter. Ancora Advisors LLC raised its stake 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 acquiring an additional 112 shares in the last quarter. Avalon Trust Co acquired a new stake in Cadence Design Systems during the 4th quarter worth $39,000. Finally, Bartlett & CO. Wealth Management LLC raised its stake in Cadence Design Systems by 147.3% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 183 shares of the software maker's stock worth $47,000 after acquiring an additional 109 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $306.35, for a total value of $306,350.00. Following the sale, the vice president directly owned 105,499 shares in the company, valued at $32,319,618.65. This trade represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James D. Plummer sold 868 shares of Cadence Design Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $319.95, for a total transaction of $277,716.60. Following the completion of the sale, the director owned 23,996 shares in the company, valued at approximately $7,677,520.20. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,975 shares of company stock worth $6,114,587. Company insiders own 1.99% of the company's stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of recent research reports. Rosenblatt Securities lifted their price objective on shares of Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Loop Capital lifted their price objective on shares of Cadence Design Systems from $340.00 to $370.00 and gave the company a "buy" rating in a research note on Monday. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $300.00 to $325.00 in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Robert W. Baird lifted their target price on shares of Cadence Design Systems from $293.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of "Moderate Buy" and a consensus price target of $330.07.

Cadence Design Systems Trading Up 0.2%

CDNS stock traded up $0.55 on Tuesday, hitting $318.04. 1,446,236 shares of the company were exchanged, compared to its average volume of 2,036,976. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $330.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 2.90. The business's fifty day moving average is $308.00 and its two-hundred day moving average is $287.35. The stock has a market capitalization of $86.84 billion, a price-to-earnings ratio of 80.52, a price-to-earnings-growth ratio of 4.44 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.07. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Cadence Design Systems had a net margin of 22.18% and a return on equity of 29.36%. The business's quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. As a group, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current 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.