2,425 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Acquired by Retireful LLC

Retireful LLC bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,425 shares of the software maker's stock, valued at approximately $729,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Missouri Trust & Investment Co acquired a new position in Cadence Design Systems during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Cadence Design Systems during the 3rd quarter worth about $28,000. Versant Capital Management Inc lifted its stake in Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock valued at $42,000 after buying an additional 87 shares in the last quarter. Prestige Wealth Management Group LLC boosted its holdings in Cadence Design Systems by 56.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker's stock worth $45,000 after buying an additional 60 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Cadence Design Systems by 30.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker's stock worth $55,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Up 2.2 %

CDNS stock traded up $6.70 during mid-day trading on Friday, hitting $305.60. 1,567,258 shares of the company were exchanged, compared to its average volume of 1,410,642. The business has a fifty day simple moving average of $304.43 and a 200-day simple moving average of $285.37. The firm has a market capitalization of $83.81 billion, a P/E ratio of 80.21, a PEG ratio of 3.44 and a beta of 1.04. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CDNS. Robert W. Baird raised their target price on Cadence Design Systems from $332.00 to $340.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Berenberg Bank assumed coverage on shares of Cadence Design Systems in a research note on Tuesday, October 15th. They set a "buy" rating and a $320.00 target price on the stock. Oppenheimer started coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They issued an "underperform" rating and a $225.00 target price for the company. Redburn Atlantic started coverage on shares of Cadence Design Systems in a research report on Monday. They set a "buy" rating and a $350.00 price target on the stock. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of "Moderate Buy" and an average price target of $329.50.

Insider Buying and Selling

In other Cadence Design Systems news, CEO Anirudh Devgan sold 93,151 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the sale, the chief executive officer now directly owns 55,874 shares in the company, valued at $17,320,940. This represents a 62.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the transaction, the vice president now directly owns 61,111 shares of the company's stock, valued at $16,866,636. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,416 shares of company stock valued at $33,528,267. Corporate insiders own 0.62% of the company's stock.

Cadence Design Systems Company 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.