4,477 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,477 shares of the software maker's stock, valued at approximately $1,213,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norden Group LLC lifted its stake in shares of Cadence Design Systems by 25.0% during the 1st quarter. Norden Group LLC now owns 945 shares of the software maker's stock worth $294,000 after purchasing an additional 189 shares during the period. Empowered Funds LLC grew its stake in shares of Cadence Design Systems by 223.8% during the first quarter. Empowered Funds LLC now owns 9,181 shares of the software maker's stock valued at $2,858,000 after acquiring an additional 6,346 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Cadence Design Systems by 37.3% during the first quarter. Oppenheimer & Co. Inc. now owns 4,860 shares of the software maker's stock worth $1,513,000 after purchasing an additional 1,320 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Cadence Design Systems by 10.9% during the first quarter. Atomi Financial Group Inc. now owns 2,021 shares of the software maker's stock valued at $629,000 after buying an additional 199 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $274,000. Institutional investors and hedge funds own 84.85% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CDNS. Mizuho assumed coverage on Cadence Design Systems in a report on Tuesday, October 22nd. They set an "outperform" rating and a $325.00 price target on the stock. Robert W. Baird raised their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Rosenblatt Securities reiterated a "neutral" rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Piper Sandler upgraded shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and set a $318.00 price objective on the stock in a research report on Tuesday, August 6th. Finally, 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 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 stock. According to MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and an average price target of $323.17.

Cadence Design Systems Price Performance

Shares of CDNS traded down $2.32 during mid-day trading on Monday, hitting $298.93. 611,747 shares of the company traded hands, compared to its average volume of 1,774,696. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $270.09 and a 200 day moving average of $282.13. The stock has a market capitalization of $81.98 billion, a price-to-earnings ratio of 79.07, a PEG ratio of 3.68 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.18 billion. During the same period last year, the firm earned $1.01 earnings per share. The business's revenue for the quarter was up 18.8% on a year-over-year basis. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the sale, the chief financial officer now directly owns 38,654 shares in the company, valued at approximately $10,278,485.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the sale, the chief financial officer now directly owns 38,654 shares in the company, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated 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 approximately $16,866,636. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,347 shares of company stock valued at $7,734,616. 1.99% of the stock is currently owned by insiders.

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.