Stephens Inc. AR Decreases Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Stephens Inc. AR lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 17.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,575 shares of the software maker's stock after selling 945 shares during the period. Stephens Inc. AR's holdings in Cadence Design Systems were worth $1,164,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Accredited Investors Inc. increased its holdings in shares of Cadence Design Systems by 1.7% in the fourth quarter. Accredited Investors Inc. now owns 2,176 shares of the software maker's stock worth $654,000 after buying an additional 36 shares during the period. Principal Street Partners LLC boosted its position in Cadence Design Systems by 2.6% during the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock valued at $437,000 after acquiring an additional 37 shares in the last quarter. Oarsman Capital Inc. boosted its position in Cadence Design Systems by 3.8% during the 4th quarter. Oarsman Capital Inc. now owns 1,042 shares of the software maker's stock valued at $313,000 after acquiring an additional 38 shares in the last quarter. Greenleaf Trust boosted its position in Cadence Design Systems by 0.7% during the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker's stock valued at $1,476,000 after acquiring an additional 39 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Cadence Design Systems by 3.9% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,072 shares of the software maker's stock valued at $285,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on CDNS. Loop Capital lifted their price objective on Cadence Design Systems from $340.00 to $370.00 and gave the company a "buy" rating in a research report on Monday. Mizuho lifted their price objective on Cadence Design Systems from $300.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. KeyCorp reiterated an "overweight" rating and set a $358.00 target price (up from $340.00) on shares of Cadence Design Systems in a report on Thursday, July 10th. Rosenblatt Securities lifted their target price on shares of Cadence Design Systems from $295.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Finally, Oppenheimer lowered their target price on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average price target of $330.07.

Cadence Design Systems Stock Up 2.0%

NASDAQ CDNS traded up $6.28 during mid-day trading on Thursday, reaching $320.86. The stock had a trading volume of 1,275,781 shares, compared to its average volume of 2,032,749. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $330.09. The stock has a market cap of $87.61 billion, a PE ratio of 81.23, a price-to-earnings-growth ratio of 4.37 and a beta of 0.99. The company has a fifty day moving average price of $308.36 and a 200 day moving average price of $287.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 2.90.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.07. Cadence Design Systems had a net margin of 22.18% and a return on equity of 29.36%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous 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, research analysts expect 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 Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Scannell sold 4,710 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,413,000.00. Following the sale, the vice president owned 28,442 shares of the company's stock, valued at approximately $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 90 days, insiders sold 19,975 shares of company stock worth $6,114,587. 1.99% of the stock is owned by corporate insiders.

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.