Values First Advisors Inc. Has $515,000 Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Values First Advisors Inc. cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 29.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,023 shares of the software maker's stock after selling 855 shares during the period. Values First Advisors Inc.'s holdings in Cadence Design Systems were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CDNS. Park Square Financial Group LLC acquired a new position in Cadence Design Systems in the fourth quarter valued at approximately $348,000. Citizens Financial Group Inc. RI boosted its position in shares of Cadence Design Systems by 80.6% in the 4th quarter. Citizens Financial Group Inc. RI now owns 8,058 shares of the software maker's stock worth $2,421,000 after purchasing an additional 3,595 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cadence Design Systems by 4.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 209,463 shares of the software maker's stock worth $62,935,000 after purchasing an additional 8,570 shares during the period. Royal London Asset Management Ltd. grew its stake in shares of Cadence Design Systems by 5.2% during the fourth quarter. Royal London Asset Management Ltd. now owns 155,873 shares of the software maker's stock worth $46,834,000 after purchasing an additional 7,766 shares during the period. Finally, Jensen Investment Management Inc. bought a new stake in Cadence Design Systems in the fourth quarter valued at about $126,571,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company'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 sale, the director directly owned 8,010 shares of the company's stock, valued at approximately $2,435,040. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Anirudh Devgan sold 10,737 shares of Cadence Design Systems stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $310.00, for a total transaction of $3,328,470.00. Following the completion of the transaction, the chief executive officer directly owned 209,548 shares of the company's stock, valued at approximately $64,959,880. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,975 shares of company stock worth $6,114,587. Corporate insiders own 1.99% of the company's stock.

Cadence Design Systems Trading Down 2.0%

NASDAQ:CDNS opened at $320.30 on Tuesday. The company has a quick ratio of 2.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.52. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $330.09. The company has a market cap of $87.46 billion, a P/E ratio of 81.09, a price-to-earnings-growth ratio of 4.53 and a beta of 0.99. The business has a 50 day moving average price of $306.20 and a two-hundred day moving average price of $286.85.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its 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 net margin of 22.18% and a return on equity of 29.36%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm earned $1.17 earnings per share. The firm's revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on CDNS shares. Bank of America raised their target price on Cadence Design Systems from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company boosted their price target on shares of Cadence Design Systems from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Mizuho lifted their target price on Cadence Design Systems from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Robert W. Baird boosted their target price on Cadence Design Systems from $293.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $325.00 price target on shares of Cadence Design Systems in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average target price of $325.23.

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.

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