Vista Cima Wealth Management LLC Invests $514,000 in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Vista Cima Wealth Management LLC acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,711 shares of the software maker's stock, valued at approximately $514,000.

Other institutional investors also recently added to or reduced their stakes in the company. Procyon Advisors LLC boosted its holdings in shares of Cadence Design Systems by 6.9% in the 4th quarter. Procyon Advisors LLC now owns 1,770 shares of the software maker's stock worth $532,000 after acquiring an additional 115 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of Cadence Design Systems by 25.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,000 shares of the software maker's stock worth $300,000 after acquiring an additional 200 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Cadence Design Systems in the 4th quarter worth approximately $667,000. HB Wealth Management LLC boosted its holdings in shares of Cadence Design Systems by 21.7% in the 4th quarter. HB Wealth Management LLC now owns 4,540 shares of the software maker's stock worth $1,364,000 after acquiring an additional 811 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC acquired a new position in shares of Cadence Design Systems in the 4th quarter worth approximately $254,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Rosenblatt Securities boosted their target price on Cadence Design Systems from $295.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. raised Cadence Design Systems from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $300.00 to $325.00 in a report on Thursday, April 24th. Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Oppenheimer reduced their price objective on Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating on the stock in a report on Wednesday, March 19th. Finally, KeyCorp upped their price objective on Cadence Design Systems from $355.00 to $375.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $325.23.

Cadence Design Systems Trading Down 0.4%

Shares of Cadence Design Systems stock traded down $1.12 on Friday, hitting $315.51. 1,010,529 shares of the company's stock traded hands, compared to its average volume of 1,977,242. The firm's 50-day moving average price is $279.22 and its two-hundred day moving average price is $287.66. The stock has a market capitalization of $86.15 billion, a PE ratio of 81.74, a price-to-earnings-growth ratio of 3.88 and a beta of 1.04. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $328.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27.

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. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.24 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The business's revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. On average, research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director James D. Plummer sold 868 shares of the stock in a transaction dated 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 transaction, the director now owns 23,996 shares in the company, valued at approximately $7,677,520.20. This represents a 3.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anirudh Devgan sold 10,737 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $310.00, for a total value of $3,328,470.00. Following the transaction, the chief executive officer now owns 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. Insiders sold a total of 18,445 shares of company stock worth $5,594,127 in the last quarter. Corporate insiders own 1.99% of the company's stock.

Cadence Design Systems 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.