DRW Securities LLC Lowers Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

DRW Securities LLC lowered its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 72.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,763 shares of the software maker's stock after selling 4,648 shares during the quarter. DRW Securities LLC's holdings in Cadence Design Systems were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in Cadence Design Systems by 10.7% during the 4th quarter. Principal Financial Group Inc. now owns 2,237,569 shares of the software maker's stock worth $672,300,000 after purchasing an additional 216,075 shares during the last quarter. Pittenger & Anderson Inc. raised its stake in Cadence Design Systems by 50.1% during the fourth quarter. Pittenger & Anderson Inc. now owns 5,289 shares of the software maker's stock worth $1,589,000 after buying an additional 1,766 shares during the last quarter. Meridiem Investment Management Ltd. lifted its holdings in Cadence Design Systems by 64.3% in the fourth quarter. Meridiem Investment Management Ltd. now owns 783,906 shares of the software maker's stock valued at $235,625,000 after buying an additional 306,887 shares during the period. Nisa Investment Advisors LLC boosted its position in Cadence Design Systems by 132.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker's stock valued at $41,850,000 after acquiring an additional 79,268 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Cadence Design Systems during the 4th quarter worth about $6,046,000. Institutional investors own 84.85% of the company's stock.

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Cadence Design Systems Stock Up 0.4 %

Cadence Design Systems stock traded up $1.09 during trading on Monday, hitting $260.56. 1,422,336 shares of the company were exchanged, compared to its average volume of 2,196,153. 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 $261.43 and its 200 day moving average is $282.51. 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 $71.48 billion, a P/E ratio of 67.50, a PEG ratio of 3.88 and a beta of 1.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results 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.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total value of $164,216.00. Following the sale, the vice president now owns 108,799 shares of the company's stock, valued at approximately $27,486,979.36. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,950 shares of company stock worth $518,499 in the last ninety days. Company insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

CDNS has been the subject of several recent analyst reports. Redburn Atlantic started coverage on Cadence Design Systems in a research note on Monday, January 13th. They set a "buy" rating and a $350.00 target price for the company. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $280.00 to $295.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "buy" rating and set a $325.00 target price on shares of Cadence Design Systems in a research report on Wednesday, February 19th. Robert W. Baird reduced their price target on shares of Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Finally, Oppenheimer decreased their price target on shares of Cadence Design Systems from $225.00 to $200.00 and set an "underperform" rating for the company in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $324.83.

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.