Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,422 shares of the software maker's stock after acquiring an additional 4,221 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Cadence Design Systems were worth $8,014,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CDNS. TIAA Trust National Association purchased a new stake in Cadence Design Systems during the 3rd quarter worth about $551,000. Hennion & Walsh Asset Management Inc. grew its stake in Cadence Design Systems by 93.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 2,358 shares of the software maker's stock worth $552,000 after buying an additional 1,140 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Cadence Design Systems by 31.4% during the 3rd quarter. Perigon Wealth Management LLC now owns 1,129 shares of the software maker's stock worth $265,000 after acquiring an additional 270 shares during the period. Congress Wealth Management LLC DE lifted its position in Cadence Design Systems by 18.0% during the 3rd quarter. Congress Wealth Management LLC DE now owns 1,570 shares of the software maker's stock worth $368,000 after acquiring an additional 239 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its position in Cadence Design Systems by 6.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,453 shares of the software maker's stock worth $340,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CDNS shares. Needham & Company LLC reaffirmed a "buy" rating and set a $320.00 price objective on shares of Cadence Design Systems in a research report on Friday, April 19th. Piper Sandler dropped their target price on shares of Cadence Design Systems from $334.00 to $318.00 and set a "neutral" rating for the company in a report on Tuesday, April 23rd. Wells Fargo & Company upped their target price on Cadence Design Systems from $330.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, April 16th. Rosenblatt Securities reiterated a "neutral" rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research report on Monday, April 22nd. Finally, Morgan Stanley upgraded shares of Cadence Design Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $260.00 to $350.00 in a report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $326.11.

Cadence Design Systems Trading Up 3.4 %

NASDAQ:CDNS traded up $9.77 during mid-day trading on Wednesday, reaching $293.10. The company's stock had a trading volume of 1,994,287 shares, compared to its average volume of 1,549,086. Cadence Design Systems, Inc. has a twelve month low of $201.73 and a twelve month high of $327.36. The company's fifty day simple moving average is $298.89 and its two-hundred day simple moving average is $284.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.32 and a quick ratio of 1.19. The stock has a market cap of $79.76 billion, a P/E ratio of 75.71, a P/E/G ratio of 3.35 and a beta of 1.06.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. Cadence Design Systems's revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that Cadence Design Systems, Inc. will post 4.78 EPS for the current year.

Insider Buying and Selling

In related news, VP Thomas P. Beckley sold 65,268 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the transaction, the vice president now owns 156,156 shares of the company's stock, valued at $46,375,208.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Karna Nisewaner sold 600 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total value of $165,216.00. Following the completion of the sale, the senior vice president now owns 20,480 shares of the company's stock, valued at $5,639,372.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas P. Beckley sold 65,268 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the sale, the vice president now directly owns 156,156 shares of the company's stock, valued at approximately $46,375,208.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,066 shares of company stock valued at $52,199,975. Insiders own 0.62% 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.

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