Creekmur Asset Management LLC Purchases 2,292 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Creekmur Asset Management LLC boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 323.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,001 shares of the software maker's stock after purchasing an additional 2,292 shares during the quarter. Creekmur Asset Management LLC's holdings in Cadence Design Systems were worth $813,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CDNS. RiverPark Advisors LLC acquired a new position in Cadence Design Systems during the 1st quarter worth approximately $26,000. ORG Partners LLC lifted its holdings in shares of Cadence Design Systems by 911.1% in the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker's stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Hollencrest Capital Management grew its position in Cadence Design Systems by 637.5% in the 1st quarter. Hollencrest Capital Management now owns 118 shares of the software maker's stock valued at $37,000 after purchasing an additional 102 shares during the period. Chilton Capital Management LLC increased its stake in Cadence Design Systems by 244.0% during the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker's stock valued at $53,000 after purchasing an additional 122 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in Cadence Design Systems by 159.7% during the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker's stock worth $62,000 after buying an additional 123 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

NASDAQ:CDNS traded up $2.89 during trading hours on Wednesday, hitting $287.34. 1,714,328 shares of the company's stock traded hands, compared to its average volume of 1,761,326. The firm has a market cap of $78.28 billion, a P/E ratio of 74.08, a P/E/G ratio of 3.03 and a beta of 1.02. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. The business's fifty day simple moving average is $266.90 and its two-hundred day simple moving average is $281.98. Cadence Design Systems, Inc. has a 52 week low of $233.51 and a 52 week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. Cadence Design Systems's revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 earnings per share. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total value of $173,056.00. Following the sale, the vice president now directly owns 65,194 shares in the company, valued at approximately $17,357,250.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total value of $173,056.00. Following the sale, the vice president now directly owns 65,194 shares in the company, valued at approximately $17,357,250.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the sale, the director now owns 42,051 shares in the company, valued at approximately $11,928,186.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock valued at $7,728,272 in the last ninety days. Company insiders own 1.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler raised shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and set a $318.00 target price for the company in a research report on Tuesday, August 6th. Rosenblatt Securities reissued a "neutral" rating and set a $280.00 price objective on shares of Cadence Design Systems in a report on Tuesday. Robert W. Baird boosted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an "outperform" rating in a report on Tuesday. Berenberg Bank started coverage on Cadence Design Systems in a report on Tuesday, October 15th. They set a "buy" rating and a $320.00 price objective for the company. Finally, Needham & Company LLC reduced their target price on Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $323.17.

About Cadence Design Systems

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.