Xponance Inc. Buys 4,048 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Xponance Inc. increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,879 shares of the software maker's stock after purchasing an additional 4,048 shares during the period. Xponance Inc.'s holdings in Cadence Design Systems were worth $20,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Cadence Design Systems during the third quarter valued at about $26,000. Valley National Advisers Inc. increased its position in shares of Cadence Design Systems by 90.4% during the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker's stock valued at $26,000 after acquiring an additional 47 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Cadence Design Systems during the fourth quarter valued at about $28,000. Atlas Capital Advisors LLC increased its position in shares of Cadence Design Systems by 322.6% during the second quarter. Atlas Capital Advisors LLC now owns 131 shares of the software maker's stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of Cadence Design Systems by 108.3% during the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker's stock valued at $37,000 after acquiring an additional 117 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CDNS. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $302.00 to $322.00 and gave the company an "outperform" rating in a research report on Thursday. KeyCorp raised their price objective on shares of Cadence Design Systems from $335.00 to $340.00 and gave the company an "overweight" rating in a research note on Monday. StockNews.com lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Tuesday. Morgan Stanley raised shares of Cadence Design Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $260.00 to $350.00 in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus raised their price objective on shares of Cadence Design Systems from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $318.10.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $310.46, for a total value of $186,276.00. Following the transaction, the senior vice president now directly owns 21,080 shares of the company's stock, valued at approximately $6,544,496.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $310.46, for a total value of $310,460.00. Following the transaction, the vice president now directly owns 68,144 shares in the company, valued at approximately $21,155,986.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Karna Nisewaner sold 600 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $310.46, for a total transaction of $186,276.00. Following the completion of the transaction, the senior vice president now owns 21,080 shares in the company, valued at $6,544,496.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,544 shares of company stock worth $53,581,207. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Stock Down 2.7 %

Cadence Design Systems stock traded down $7.81 during trading on Thursday, reaching $285.90. The stock had a trading volume of 2,700,433 shares, compared to its average volume of 1,492,151. Cadence Design Systems, Inc. has a 52-week low of $194.01 and a 52-week high of $327.36. The business has a 50 day moving average price of $306.16 and a 200 day moving average price of $279.39. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. The stock has a market cap of $77.83 billion, a PE ratio of 74.84, a P/E/G ratio of 3.65 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its quarterly earnings results on Monday, February 12th. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.05. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm's quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts predict that Cadence Design Systems, Inc. will post 4.82 EPS for the current 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.