Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 11.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,099 shares of the software maker's stock after selling 1,850 shares during the period. Cadence Design Systems accounts for approximately 0.9% of Jackson Square Capital LLC's investment portfolio, making the stock its 29th biggest holding. Jackson Square Capital LLC's holdings in Cadence Design Systems were worth $3,821,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CDNS. Malaga Cove Capital LLC acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at $293,000. Advisor Resource Council acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at $202,000. Blake Schutter Theil Wealth Advisors LLC acquired a new position in shares of Cadence Design Systems in the 3rd quarter valued at $211,000. Catalina Capital Group LLC increased its position in shares of Cadence Design Systems by 8.1% in the 3rd quarter. Catalina Capital Group LLC now owns 1,082 shares of the software maker's stock valued at $293,000 after acquiring an additional 81 shares during the period. Finally, Falcon Wealth Planning increased its position in shares of Cadence Design Systems by 5.1% in the 3rd quarter. Falcon Wealth Planning now owns 819 shares of the software maker's stock valued at $222,000 after acquiring an additional 40 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CDNS. Mizuho began coverage on Cadence Design Systems in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $325.00 target price on the stock. Berenberg Bank began coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a "buy" rating and a $320.00 price target on the stock. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an "underperform" rating and a $225.00 price target on the stock. Needham & Company LLC lowered their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday, October 29th. Finally, Robert W. Baird upped their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $323.17.

Cadence Design Systems Price Performance

Shares of CDNS traded up $4.97 during mid-day trading on Thursday, hitting $301.72. 1,508,983 shares of the company were exchanged, compared to its average volume of 1,782,542. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The company has a 50 day moving average of $268.72 and a 200-day moving average of $281.85. The stock has a market cap of $82.75 billion, a price-to-earnings ratio of 79.19, a price-to-earnings-growth ratio of 3.54 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping 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 in the prior year, the firm earned $1.01 EPS. The company's revenue for the quarter was up 18.8% on a year-over-year basis. Analysts expect that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $276.00, for a total value of $179,400.00. Following the completion of the sale, the vice president now owns 61,111 shares in the company, valued at approximately $16,866,636. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cadence Design Systems news, SVP Karna Nisewaner sold 659 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total value of $181,870.82. Following the completion of the sale, the senior vice president now owns 16,029 shares in the company, valued at approximately $4,423,683.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $276.00, for a total transaction of $179,400.00. Following the sale, the vice president now owns 61,111 shares of the company's stock, valued at $16,866,636. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,347 shares of company stock worth $7,734,616 in the last 90 days. 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.