Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Nwam LLC

Nwam LLC raised its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 36.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,700 shares of the software maker's stock after acquiring an additional 1,517 shares during the period. Nwam LLC's holdings in Cadence Design Systems were worth $1,450,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Smallwood Wealth Investment Management LLC bought a new stake in shares of Cadence Design Systems during the first quarter worth $25,000. Valley National Advisers Inc. lifted its stake 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 acquiring an additional 99 shares during the period. Ancora Advisors LLC lifted its stake in shares of Cadence Design Systems by 1,400.0% during the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock valued at $36,000 after acquiring an additional 112 shares during the period. Bartlett & CO. Wealth Management LLC lifted its stake in shares of Cadence Design Systems by 147.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 183 shares of the software maker's stock valued at $47,000 after acquiring an additional 109 shares during the period. Finally, HWG Holdings LP acquired a new position in shares of Cadence Design Systems during the first quarter valued at $54,000. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CDNS shares. The Goldman Sachs Group initiated coverage on Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 price objective for the company. JPMorgan Chase & Co. raised 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 report on Thursday, April 24th. Robert W. Baird upped their target price on Cadence Design Systems from $293.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. KeyCorp reiterated an "overweight" rating and issued a $358.00 price target (up previously from $340.00) on shares of Cadence Design Systems in a research report on Thursday, July 10th. Finally, Rosenblatt Securities upped their price target on Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $330.07.

Insider Activity

In other news, 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Scannell sold 4,710 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $300.00, for a total value of $1,413,000.00. Following the transaction, the vice president directly owned 28,442 shares in the company, valued at $8,532,600. This represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,975 shares of company stock valued at $6,114,587. Insiders own 1.99% of the company's stock.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS traded down $5.29 during midday trading on Friday, hitting $315.57. The company had a trading volume of 1,390,857 shares, compared to its average volume of 2,019,433. 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 company has a market cap of $86.16 billion, a price-to-earnings ratio of 79.89, a PEG ratio of 4.38 and a beta of 0.99. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $330.09. The company has a fifty day moving average of $308.81 and a two-hundred day moving average of $287.90.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.07. The business had revenue of $1.24 billion during 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 in the prior year, the business posted $1.17 EPS. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

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.