World Investment Advisors LLC Has $2.02 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

World Investment Advisors LLC lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 656.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dudley Capital Management LLC raised its position in shares of Cadence Design Systems by 4.3% during the third quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock worth $257,000 after purchasing an additional 39 shares during the period. Trust Point Inc. raised its position in shares of Cadence Design Systems by 2.9% during the third quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock worth $379,000 after purchasing an additional 40 shares during the period. Falcon Wealth Planning raised its position in shares of Cadence Design Systems by 5.1% during the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock worth $222,000 after purchasing an additional 40 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in shares of Cadence Design Systems by 0.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock valued at $1,501,000 after buying an additional 40 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in shares of Cadence Design Systems by 2.5% during the third quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock valued at $463,000 after buying an additional 41 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

NASDAQ CDNS opened at $306.75 on Friday. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The stock has a market capitalization of $84.13 billion, a PE ratio of 80.51, a P/E/G ratio of 4.19 and a beta of 1.03. The stock has a 50-day simple moving average of $289.76 and a 200 day simple moving average of $285.62.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CDNS shares. Loop Capital started coverage on Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 price target on the stock. Mizuho lifted their price target on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company assumed coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target on the stock. Oppenheimer assumed coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 29th. One research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $327.92.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total transaction of $177,736.00. Following the completion of the transaction, the vice president now owns 61,761 shares of the company’s stock, valued at approximately $16,887,927.84. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Karna Nisewaner sold 659 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total value of $181,870.82. Following the completion of the transaction, the senior vice president now directly owns 16,029 shares of the company’s stock, valued at approximately $4,423,683.42. This trade represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,634 shares of company stock valued at $1,584,080. Insiders own 1.99% of the company’s stock.

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.