Cadence Design Systems, Inc. (NASDAQ:CDNS) is Vienna Asset Management LLC's 3rd Largest Position

Vienna Asset Management LLC decreased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 13.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,717 shares of the software maker's stock after selling 3,833 shares during the period. Cadence Design Systems comprises approximately 5.2% of Vienna Asset Management LLC's portfolio, making the stock its 3rd biggest holding. Vienna Asset Management LLC's holdings in Cadence Design Systems were worth $7,727,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Procyon Advisors LLC increased its position in shares of Cadence Design Systems by 6.9% in the fourth quarter. Procyon Advisors LLC now owns 1,770 shares of the software maker's stock valued at $532,000 after acquiring an additional 115 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in Cadence Design Systems by 25.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,000 shares of the software maker's stock valued at $300,000 after acquiring an additional 200 shares in the last quarter. Merit Financial Group LLC bought a new stake in Cadence Design Systems in the fourth quarter valued at $667,000. HB Wealth Management LLC boosted its holdings in Cadence Design Systems by 21.7% in the fourth quarter. HB Wealth Management LLC now owns 4,540 shares of the software maker's stock valued at $1,364,000 after acquiring an additional 811 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC bought a new stake in Cadence Design Systems in the fourth quarter valued at $254,000. Institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total transaction of $164,216.00. Following the completion of the transaction, the vice president now directly owns 108,799 shares of the company's stock, valued at $27,486,979.36. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Scannell sold 4,710 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now directly owns 28,442 shares of the company's stock, valued at $8,532,600. The trade was 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 18,445 shares of company stock valued at $5,594,127. 1.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $325.00 price target on shares of Cadence Design Systems in a report on Tuesday, May 13th. Rosenblatt Securities lifted their price target 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. Robert W. Baird lifted their price target 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. Loop Capital lowered their price objective 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, Piper Sandler raised their price objective on Cadence Design Systems from $318.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and a consensus target price of $325.23.

Cadence Design Systems Stock Down 0.3%

Shares of CDNS traded down $0.92 during trading hours on Thursday, hitting $316.63. The company had a trading volume of 1,480,776 shares, compared to its average volume of 1,980,694. The firm has a fifty day moving average price of $276.76 and a 200-day moving average price of $287.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93. The stock has a market capitalization of $86.45 billion, a price-to-earnings ratio of 82.03, a P/E/G ratio of 3.88 and a beta of 1.04. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.24 billion. During the same period last year, the business posted $1.17 EPS. The company's revenue was up 23.1% compared to the same quarter last year. On average, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal 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.