Executive Wealth Management LLC Takes Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Executive Wealth Management LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,935 shares of the software maker's stock, valued at approximately $524,000.

A number of other hedge funds have also modified their holdings of the company. Missouri Trust & Investment Co acquired a new stake in Cadence Design Systems during the third quarter worth about $27,000. ORG Partners LLC grew its holdings in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker's stock worth $28,000 after acquiring an additional 82 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Cadence Design Systems during the third quarter worth about $28,000. Chilton Capital Management LLC grew its holdings in Cadence Design Systems by 244.0% during the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker's stock worth $53,000 after acquiring an additional 122 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Cadence Design Systems by 30.3% during the third quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker's stock worth $55,000 after acquiring an additional 47 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Trading Up 2.0 %

Cadence Design Systems stock traded up $5.92 during trading on Wednesday, reaching $308.78. 2,216,800 shares of the company were exchanged, compared to its average volume of 1,763,384. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The company has a market capitalization of $84.69 billion, a P/E ratio of 81.04, a PEG ratio of 4.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The stock's 50 day simple moving average is $287.32 and its two-hundred day simple moving average is $285.28.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $1.01 earnings per share. The firm's revenue was up 18.8% compared to the same quarter last year. On average, equities research analysts expect that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several analyst reports. Oppenheimer started coverage on Cadence Design Systems in a report on Wednesday, September 25th. They set an "underperform" rating and a $225.00 target price on the stock. Robert W. Baird increased their price target on Cadence Design Systems from $332.00 to $340.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Rosenblatt Securities reiterated a "neutral" rating and set a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Wells Fargo & Company started coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an "overweight" rating and a $350.00 price target on the stock. Finally, Loop Capital started coverage on Cadence Design Systems in a research report on Monday, November 11th. They set a "buy" rating and a $360.00 price target on the stock. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $326.00.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the completion of the sale, the vice president now owns 60,461 shares of the company's stock, valued at $18,512,553.59. This trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total value of $413,970.00. Following the sale, the director now directly owns 43,551 shares of the company's stock, valued at approximately $12,019,204.98. This trade represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,634 shares of company stock worth $1,584,080. 1.99% of the stock is owned by corporate insiders.

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.