Diversified Trust Co Has $464,000 Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Diversified Trust Co lowered its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 86.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,545 shares of the software maker's stock after selling 9,636 shares during the quarter. Diversified Trust Co's holdings in Cadence Design Systems were worth $464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its stake in Cadence Design Systems by 42.4% during the 2nd quarter. Private Advisor Group LLC now owns 7,875 shares of the software maker's stock valued at $2,424,000 after purchasing an additional 2,343 shares during the period. LPL Financial LLC boosted its position in shares of Cadence Design Systems by 19.2% in the second quarter. LPL Financial LLC now owns 274,034 shares of the software maker's stock valued at $84,334,000 after acquiring an additional 44,179 shares during the period. Robeco Schweiz AG grew its stake in shares of Cadence Design Systems by 57.7% in the second quarter. Robeco Schweiz AG now owns 23,000 shares of the software maker's stock worth $7,078,000 after acquiring an additional 8,415 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Cadence Design Systems by 7.8% during the second quarter. Oppenheimer & Co. Inc. now owns 5,237 shares of the software maker's stock worth $1,612,000 after acquiring an additional 377 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in Cadence Design Systems by 3.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 532,556 shares of the software maker's stock valued at $164,959,000 after purchasing an additional 15,838 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.

Insider Activity

In related news, CEO Anirudh Devgan sold 93,151 shares of Cadence Design Systems stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the completion of the sale, the chief executive officer now directly owns 55,874 shares in the company, valued at $17,320,940. This trade represents a 62.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the transaction, the director now owns 42,051 shares in the company, valued at approximately $11,928,186.66. The trade was a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,916 shares of company stock worth $33,953,757. 1.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CDNS shares. Wells Fargo & Company assumed coverage on shares of Cadence Design Systems in a research report on Friday, November 22nd. They set an "overweight" rating and a $350.00 price objective for the company. Needham & Company LLC reduced their price objective on Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Robert W. Baird boosted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Berenberg Bank assumed coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a "buy" rating and a $320.00 target price for the company. Finally, Mizuho lifted their price target on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $327.92.

Cadence Design Systems Price Performance

NASDAQ:CDNS traded down $3.73 on Friday, reaching $299.00. The stock had a trading volume of 1,330,446 shares, compared to its average volume of 1,273,887. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $82.00 billion, a P/E ratio of 78.48, a price-to-earnings-growth ratio of 4.16 and a beta of 1.04. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The stock has a fifty day moving average price of $304.20 and a 200-day moving average price of $285.57.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $1.01 EPS. Cadence Design Systems's revenue was up 18.8% compared to the same quarter last year. Research analysts forecast that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

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.