5,277 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Purchased by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust acquired a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,277 shares of the software maker's stock, valued at approximately $1,586,000. Cadence Design Systems comprises 1.1% of Bank of Jackson Hole Trust's investment portfolio, making the stock its 20th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC increased its stake in Cadence Design Systems by 12.4% in the fourth quarter. Avior Wealth Management LLC now owns 326 shares of the software maker's stock valued at $98,000 after acquiring an additional 36 shares during the last quarter. Dudley Capital Management LLC grew its position in shares of Cadence Design Systems by 4.3% in the 3rd quarter. Dudley Capital Management LLC now owns 948 shares of the software maker's stock valued at $257,000 after buying an additional 39 shares during the last quarter. Falcon Wealth Planning raised its holdings in Cadence Design Systems by 5.1% during the 3rd quarter. Falcon Wealth Planning now owns 819 shares of the software maker's stock worth $222,000 after purchasing an additional 40 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in Cadence Design Systems by 0.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker's stock valued at $1,501,000 after buying an additional 40 shares during the period. Finally, Venture Visionary Partners LLC increased its holdings in Cadence Design Systems by 2.5% in the third quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker's stock worth $463,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Down 4.4 %

Shares of CDNS stock traded down $11.96 during mid-day trading on Friday, hitting $258.27. The stock had a trading volume of 4,553,254 shares, compared to its average volume of 1,870,280. The firm has a market capitalization of $70.83 billion, a P/E ratio of 66.91, a price-to-earnings-growth ratio of 3.17 and a beta of 1.03. 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, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The firm's 50-day moving average is $301.51 and its two-hundred day moving average is $286.95.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.33). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. On average, analysts predict that Cadence Design Systems, Inc. will post 5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $325.00 price objective on shares of Cadence Design Systems in a research report on Wednesday. Loop Capital cut their target price on Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating on the stock in a research note on Wednesday. StockNews.com downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Redburn Atlantic began coverage on Cadence Design Systems in a report on Monday, January 13th. They set a "buy" rating and a $350.00 price target on the stock. Finally, Bank of America reduced their price objective on Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average price target of $326.92.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Scannell sold 3,171 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $305.78, for a total value of $969,628.38. Following the completion of the sale, the vice president now directly owns 14,318 shares of the company's stock, valued at $4,378,158.04. This trade represents a 18.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anirudh Devgan sold 5,920 shares of Cadence Design Systems stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total value of $1,799,916.80. Following the transaction, the chief executive officer now directly owns 55,874 shares of the company's stock, valued at approximately $16,987,930.96. This represents a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,416 shares of company stock worth $33,538,875. 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.