S.E.E.D. Planning Group LLC Has $532,000 Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

S.E.E.D. Planning Group LLC trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,772 shares of the software maker’s stock after selling 221 shares during the quarter. S.E.E.D. Planning Group LLC’s holdings in Cadence Design Systems were worth $532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Cadence Design Systems by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock valued at $689,472,000 after buying an additional 572,251 shares during the period. Principal Financial Group Inc. increased its stake in Cadence Design Systems by 33.0% in the third quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker’s stock valued at $547,886,000 after acquiring an additional 501,833 shares during the period. Meridiem Investment Management Ltd. acquired a new position in Cadence Design Systems in the third quarter worth about $129,285,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Cadence Design Systems by 48.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock worth $258,136,000 after purchasing an additional 310,250 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Cadence Design Systems by 153.4% during the second quarter. Marshall Wace LLP now owns 471,010 shares of the software maker’s stock valued at $144,953,000 after purchasing an additional 285,130 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on Cadence Design Systems in a report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 target price for the company. Needham & Company LLC dropped their price objective on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Mizuho boosted their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Finally, Oppenheimer began coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $329.50.

Cadence Design Systems Stock Performance

CDNS stock opened at $294.19 on Wednesday. The stock has a market capitalization of $80.69 billion, a PE ratio of 77.22, a price-to-earnings-growth ratio of 4.16 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The company has a 50 day moving average price of $304.32 and a 200 day moving average price of $285.20. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly 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 for the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Analysts forecast that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, CEO Anirudh Devgan sold 93,151 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the transaction, the chief executive officer now owns 55,874 shares of the company’s stock, valued at approximately $17,320,940. This represents a 62.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul Scannell sold 3,171 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $305.78, for a total value of $969,628.38. Following the transaction, the vice president now owns 14,318 shares of the company’s stock, valued at $4,378,158.04. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,416 shares of company stock valued at $33,528,267 over the last ninety days. 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.