Atria Wealth Solutions Inc. Has $9.04 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Atria Wealth Solutions Inc. lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,071 shares of the software maker's stock after selling 5,314 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Cadence Design Systems were worth $9,035,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Cadence Design Systems by 0.5% in the 3rd quarter. State Street Corp now owns 11,922,747 shares of the software maker's stock valued at $3,231,422,000 after purchasing an additional 60,490 shares during the last quarter. Jennison Associates LLC raised its holdings in Cadence Design Systems by 5.3% during the fourth quarter. Jennison Associates LLC now owns 8,010,251 shares of the software maker's stock valued at $2,406,760,000 after buying an additional 404,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cadence Design Systems by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,988,851 shares of the software maker's stock worth $1,081,098,000 after buying an additional 37,452 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Cadence Design Systems by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 2,933,392 shares of the software maker's stock worth $885,356,000 after acquiring an additional 178,212 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Cadence Design Systems by 26.1% during the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker's stock valued at $689,472,000 after acquiring an additional 572,251 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cadence Design Systems

In related news, VP Paul Scannell sold 3,171 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the transaction, the vice president now directly owns 14,318 shares in the company, valued at $4,378,158.04. This represents a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $292.32, for a total transaction of $190,008.00. Following the sale, the vice president now directly owns 58,773 shares of the company's stock, valued at $17,180,523.36. This represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,416 shares of company stock worth $33,538,875 over the last 90 days. Insiders own 1.99% of the company's stock.

Cadence Design Systems Price Performance

CDNS traded down $11.96 during midday trading on Friday, hitting $258.27. The company had a trading volume of 4,553,254 shares, compared to its average volume of 1,870,280. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The firm's 50-day simple moving average is $301.51 and its 200-day simple moving average is $286.95. The company has a market capitalization of $70.83 billion, a PE ratio of 66.91, a P/E/G ratio of 3.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.27 and a current ratio of 2.93.

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 for the quarter, missing the consensus estimate of $1.82 by ($0.33). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. Equities research analysts predict that Cadence Design Systems, Inc. will post 5.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CDNS. Rosenblatt Securities boosted their target price on Cadence Design Systems from $280.00 to $295.00 and gave the stock a "neutral" rating in a report on Wednesday. Mizuho boosted their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Piper Sandler raised their price objective on shares of Cadence Design Systems from $318.00 to $328.00 and gave the stock an "overweight" rating in a report on Wednesday. Bank of America decreased their price target on Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Redburn Atlantic initiated coverage on Cadence Design Systems in a research note on Monday, January 13th. They set a "buy" rating and a $350.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $326.92.

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.