Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by World Investment Advisors LLC

World Investment Advisors LLC lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 656.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,457 shares of the software maker's stock after purchasing an additional 6,471 shares during the period. World Investment Advisors LLC's holdings in Cadence Design Systems were worth $2,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Missouri Trust & Investment Co purchased a new position in shares of Cadence Design Systems in the third quarter valued at about $27,000. ORG Partners LLC increased its position in Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker's stock worth $28,000 after buying an additional 82 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Cadence Design Systems during the 3rd quarter valued at $28,000. Prestige Wealth Management Group LLC grew its holdings in Cadence Design Systems by 56.6% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker's stock valued at $45,000 after buying an additional 60 shares in the last quarter. Finally, Chilton Capital Management LLC boosted its stake in Cadence Design Systems by 244.0% during the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker's stock valued at $53,000 after buying an additional 122 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Activity at Cadence Design Systems

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business'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 directly owns 42,051 shares in the company, valued at $11,928,186.66. The trade was a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 650 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $306.19, for a total value of $199,023.50. Following the completion of the sale, the vice president now directly owns 60,461 shares of the company's stock, valued at $18,512,553.59. This represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,634 shares of company stock worth $1,584,080. Company insiders own 1.99% of the company's stock.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock traded down $1.47 on Friday, hitting $306.75. 1,544,108 shares of the company were exchanged, compared to its average volume of 1,758,691. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. 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 50-day moving average price of $289.76 and a 200 day moving average price of $285.62. The stock has a market capitalization of $84.13 billion, a price-to-earnings ratio of 80.51, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CDNS. Loop Capital assumed coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They issued a "buy" rating and a $360.00 price objective on the stock. Oppenheimer began coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They set an "underperform" rating and a $225.00 target price on the stock. Rosenblatt Securities reissued a "neutral" rating and issued a $280.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Berenberg Bank started coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a "buy" rating and a $320.00 price objective on the stock. Finally, Robert W. Baird lifted their price target 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $327.92.

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.