Csenge Advisory Group Sells 996 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Csenge Advisory Group lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 36.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,740 shares of the software maker’s stock after selling 996 shares during the period. Csenge Advisory Group’s holdings in Cadence Design Systems were worth $523,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in shares of Cadence Design Systems in the 4th quarter worth approximately $28,000. Missouri Trust & Investment Co purchased a new position in Cadence Design Systems during the third quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new position in Cadence Design Systems during the third quarter valued at $28,000. Versant Capital Management Inc raised its stake in shares of Cadence Design Systems by 164.2% in the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after acquiring an additional 87 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of Cadence Design Systems by 56.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock worth $45,000 after acquiring an additional 60 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Scannell sold 3,171 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the completion of the sale, the vice president now directly owns 14,318 shares in the company, valued at $4,378,158.04. This trade represents a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total value of $199,023.50. Following the transaction, the vice president now directly owns 60,461 shares in the company, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,416 shares of company stock valued at $33,538,875 over the last quarter. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Price Performance

Shares of CDNS opened at $300.43 on Wednesday. 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 company has a 50 day moving average price of $303.01 and a 200-day moving average price of $286.80. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The stock has a market capitalization of $82.40 billion, a PE ratio of 78.85, a PEG ratio of 3.50 and a beta of 1.03.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. Equities analysts predict that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CDNS. Redburn Atlantic assumed coverage on shares of Cadence Design Systems in a report on Monday, January 13th. They set a “buy” rating and a $350.00 price target on the stock. Loop Capital began coverage on Cadence Design Systems in a report on Monday, November 11th. They issued a “buy” rating and a $360.00 price target on the stock. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 29th. Needham & Company LLC cut their price objective on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Mizuho lifted their target price on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.08.

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.