Cadence Design Systems, Inc. (NASDAQ:CDNS) Holdings Cut by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lowered its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,021 shares of the software maker’s stock after selling 142 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Cadence Design Systems were worth $278,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CDNS. OFI Invest Asset Management acquired a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $26,000. Valley National Advisers Inc. raised its holdings in Cadence Design Systems by 90.4% during the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after buying an additional 47 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Cadence Design Systems during the 4th quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in shares of Cadence Design Systems during the 4th quarter valued at about $45,000. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Cadence Design Systems by 34.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock valued at $47,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 1.3 %

CDNS stock opened at $285.19 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $301.65 and its 200-day moving average is $282.88. Cadence Design Systems, Inc. has a 1-year low of $198.92 and a 1-year high of $327.36. The firm has a market cap of $77.61 billion, a P/E ratio of 74.27, a P/E/G ratio of 3.32 and a beta of 1.06.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.04. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.02 EPS. Equities analysts anticipate that Cadence Design Systems, Inc. will post 4.78 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total value of $165,216.00. Following the completion of the sale, the senior vice president now owns 20,480 shares in the company, valued at approximately $5,639,372.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $309.16, for a total value of $463,740.00. Following the transaction, the director now directly owns 51,683 shares in the company, valued at $15,978,316.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $275.36, for a total value of $165,216.00. Following the sale, the senior vice president now directly owns 20,480 shares of the company’s stock, valued at $5,639,372.80. The disclosure for this sale can be found here. Insiders sold 173,066 shares of company stock valued at $52,199,975 over the last ninety days. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CDNS has been the topic of several analyst reports. Piper Sandler lowered their price target on Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research report on Monday, April 22nd. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. KeyCorp boosted their price objective on Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Stifel Nicolaus lifted their price target on Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.11.

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.