Cadence Design Systems, Inc. (NASDAQ:CDNS) Position Decreased by Stonehage Fleming Financial Services Holdings Ltd

Stonehage Fleming Financial Services Holdings Ltd reduced its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 27.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 651,710 shares of the software maker’s stock after selling 248,959 shares during the period. Cadence Design Systems accounts for approximately 5.5% of Stonehage Fleming Financial Services Holdings Ltd’s portfolio, making the stock its 5th largest holding. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Cadence Design Systems were worth $195,813,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in Cadence Design Systems by 132.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock worth $41,850,000 after purchasing an additional 79,268 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Cadence Design Systems by 48.3% in 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. Avanza Fonder AB purchased a new stake in shares of Cadence Design Systems during the fourth quarter worth about $6,046,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Cadence Design Systems in the 3rd quarter worth $24,026,000. Finally, Zhang Financial LLC bought a new position in shares of Cadence Design Systems during the 4th quarter valued at approximately $381,000. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the transaction, the vice president now directly owns 61,111 shares in the company, valued at approximately $16,866,636. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anirudh Devgan sold 93,151 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the transaction, the chief executive officer now owns 55,874 shares of the company’s stock, valued at approximately $17,320,940. This trade represents a 62.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,416 shares of company stock valued at $33,528,267. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Trading Down 1.2 %

Shares of CDNS opened at $320.48 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The company has a market capitalization of $87.89 billion, a P/E ratio of 84.12, a P/E/G ratio of 3.70 and a beta of 1.04. The firm’s 50 day simple moving average is $306.14 and its 200 day simple moving average is $285.14.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 EPS 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 firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s quarterly revenue was up 18.8% on a year-over-year basis. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Wells Fargo & Company initiated coverage on Cadence Design Systems in a research report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target on the stock. Loop Capital started coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They issued a “buy” rating and a $360.00 target price for the company. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They set a “buy” rating and a $350.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $329.50.

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.