Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 238,410 shares of the software maker's stock after purchasing an additional 6,107 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.09% of Cadence Design Systems worth $64,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Market Strategies LLC grew its position in Cadence Design Systems by 3.1% in the 2nd quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker's stock valued at $400,000 after buying an additional 39 shares during the last quarter. Inspire Advisors LLC boosted its position in shares of Cadence Design Systems by 1.8% during the 1st quarter. Inspire Advisors LLC now owns 2,229 shares of the software maker's stock worth $694,000 after purchasing an additional 40 shares in the last quarter. Trust Point Inc. boosted its position in shares of Cadence Design Systems by 2.9% during the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker's stock worth $379,000 after purchasing an additional 40 shares in the last quarter. Venture Visionary Partners LLC boosted its position in shares of Cadence Design Systems by 2.5% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker's stock worth $463,000 after purchasing an additional 41 shares in the last quarter. Finally, Stonegate Investment Group LLC boosted its position in shares of Cadence Design Systems by 1.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 3,274 shares of the software maker's stock worth $887,000 after purchasing an additional 42 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total transaction of $425,490.00. Following the completion of the transaction, the director now directly owns 42,051 shares in the company, valued at approximately $11,928,186.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total transaction of $425,490.00. Following the sale, the director now directly owns 42,051 shares of the company's stock, valued at approximately $11,928,186.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Karna Nisewaner sold 1,213 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $279.49, for a total value of $339,021.37. Following the sale, the senior vice president now directly owns 17,617 shares in the company, valued at approximately $4,923,775.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,697 shares of company stock worth $7,555,216. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Trading Up 2.2 %

Shares of NASDAQ:CDNS traded up $5.97 during trading on Friday, reaching $282.09. 1,897,161 shares of the stock were exchanged, compared to its average volume of 1,775,005. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 2.45. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The firm has a market cap of $77.24 billion, a price-to-earnings ratio of 73.86, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02. The firm's 50-day moving average price is $267.02 and its 200 day moving average price is $281.99.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. Cadence Design Systems's quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CDNS has been the topic of several research analyst reports. Needham & Company LLC decreased their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating on the stock in a research report on Tuesday. Oppenheimer assumed coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They set an "underperform" rating and a $225.00 price target for the company. Berenberg Bank began coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They set a "buy" rating and a $320.00 price target for the company. Rosenblatt Securities reissued a "neutral" rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Tuesday. Finally, Robert W. Baird boosted their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.