Liberty Capital Management Inc. Purchases 152 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Liberty Capital Management Inc. increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,621 shares of the software maker’s stock after purchasing an additional 152 shares during the period. Liberty Capital Management Inc.’s holdings in Cadence Design Systems were worth $2,337,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. RiverPark Advisors LLC purchased a new position in shares of Cadence Design Systems in the first quarter valued at about $26,000. ORG Partners LLC boosted its stake in Cadence Design Systems by 911.1% in the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares during the period. Annapolis Financial Services LLC bought a new position in Cadence Design Systems in the 1st quarter worth approximately $32,000. Hollencrest Capital Management grew its holdings in Cadence Design Systems by 637.5% during the 1st quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after buying an additional 102 shares in the last quarter. Finally, Chilton Capital Management LLC raised its position in shares of Cadence Design Systems by 244.0% during the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 0.6 %

CDNS opened at $251.51 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. The stock’s 50 day moving average price is $268.93 and its 200-day moving average price is $283.73. Cadence Design Systems, Inc. has a one year low of $228.66 and a one year high of $328.99. The stock has a market cap of $68.52 billion, a price-to-earnings ratio of 65.50, a P/E/G ratio of 3.37 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. On average, equities analysts forecast that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Mizuho started coverage on shares of Cadence Design Systems in a research note on Tuesday. They set an “outperform” rating and a $325.00 target price for the company. Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a research report on Tuesday, August 6th. Berenberg Bank assumed coverage on Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target for the company. KeyCorp upped their price objective on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $323.42.

Insiders Place Their Bets

In related news, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the sale, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the transaction, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total transaction of $425,490.00. Following the completion of the sale, the director now directly owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,347 shares of company stock worth $7,728,272 in the last three months. Corporate insiders own 1.99% of the company’s stock.

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.