DF Dent & Co. Inc. Buys 127,000 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

DF Dent & Co. Inc. increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 64.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,917 shares of the software maker's stock after acquiring an additional 127,000 shares during the period. DF Dent & Co. Inc. owned about 0.12% of Cadence Design Systems worth $97,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDNS. Spahn Wealth & Retirement LLC acquired a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $2,976,000. Arete Wealth Advisors LLC acquired a new stake in Cadence Design Systems during the 4th quarter valued at $222,000. World Investment Advisors grew its stake in Cadence Design Systems by 100.6% in the 4th quarter. World Investment Advisors now owns 14,960 shares of the software maker's stock valued at $4,495,000 after buying an additional 7,503 shares during the last quarter. Westpac Banking Corp lifted its position in Cadence Design Systems by 279.0% during the fourth quarter. Westpac Banking Corp now owns 11,811 shares of the software maker's stock worth $3,549,000 after acquiring an additional 8,695 shares during the last quarter. Finally, Nicolet Advisory Services LLC boosted its holdings in shares of Cadence Design Systems by 21.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,777 shares of the software maker's stock worth $531,000 after acquiring an additional 319 shares during the period. Institutional investors and hedge funds own 84.85% of the company's stock.

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Analyst Ratings Changes

CDNS has been the subject of a number of analyst reports. Piper Sandler lifted their price target on shares of Cadence Design Systems from $318.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Loop Capital cut their price objective on Cadence Design Systems from $360.00 to $340.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Redburn Atlantic assumed coverage on Cadence Design Systems in a report on Monday, January 13th. They issued a "buy" rating and a $350.00 target price for the company. Mizuho boosted their price target on Cadence Design Systems from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Bank of America cut their target price on shares of Cadence Design Systems from $365.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. One 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. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $324.83.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $252.73, for a total value of $164,274.50. Following the completion of the transaction, the vice president now directly owns 58,123 shares of the company's stock, valued at $14,689,425.79. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 1,950 shares of company stock valued at $518,499. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Stock Up 2.2 %

Cadence Design Systems stock traded up $5.17 during trading on Tuesday, hitting $238.99. 806,545 shares of the company were exchanged, compared to its average volume of 1,913,722. The company has a current ratio of 2.93, a quick ratio of 2.27 and a debt-to-equity ratio of 0.53. The business's 50 day moving average is $266.96 and its 200 day moving average is $283.52. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $328.99. The company has a market capitalization of $65.56 billion, a P/E ratio of 62.34, a PEG ratio of 3.88 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.33). The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. Analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.