PDS Planning Inc Sells 172 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

PDS Planning Inc reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,543 shares of the software maker’s stock after selling 172 shares during the quarter. PDS Planning Inc’s holdings in Cadence Design Systems were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the business. QRG Capital Management Inc. grew its holdings in shares of Cadence Design Systems by 4.6% during the 3rd quarter. QRG Capital Management Inc. now owns 88,127 shares of the software maker’s stock worth $23,885,000 after acquiring an additional 3,868 shares during the period. National Pension Service lifted its position in Cadence Design Systems by 10.0% during the third quarter. National Pension Service now owns 702,933 shares of the software maker’s stock valued at $190,516,000 after buying an additional 63,776 shares during the period. Donaldson Capital Management LLC boosted its position in shares of Cadence Design Systems by 4.6% in the 3rd quarter. Donaldson Capital Management LLC now owns 13,886 shares of the software maker’s stock worth $3,764,000 after purchasing an additional 613 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Cadence Design Systems by 26.1% during the third quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock valued at $689,472,000 after acquiring an additional 572,251 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Cadence Design Systems by 5.0% in the third quarter. Harbor Capital Advisors Inc. now owns 14,164 shares of the software maker’s stock worth $3,839,000 after acquiring an additional 669 shares during the period. 84.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDNS has been the subject of several recent research reports. Mizuho assumed coverage on Cadence Design Systems in a report on Tuesday, October 22nd. They set an “outperform” rating and a $325.00 price target for the company. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price for the company. Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target on the stock in a report on Tuesday, August 6th. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Finally, Robert W. Baird upped their target price on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. One 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’s stock. Based on data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average price target of $323.17.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $276.24, for a total value of $414,360.00. Following the completion of the transaction, the director now owns 45,051 shares of the company’s stock, valued at approximately $12,444,888.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00. Following the completion of the sale, the director now directly owns 45,051 shares in the company, valued at approximately $12,444,888.24. 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 can be accessed through the SEC website. Also, SVP Karna Nisewaner sold 1,213 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $279.49, for a total value of $339,021.37. Following the transaction, the senior vice president now owns 17,617 shares in the company, valued at approximately $4,923,775.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,697 shares of company stock worth $7,555,216 over the last quarter. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 2.6 %

Shares of NASDAQ CDNS opened at $289.34 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 1.32. The business’s 50 day moving average is $267.60 and its two-hundred day moving average is $281.67. The stock has a market capitalization of $79.36 billion, a P/E ratio of 75.94, a PEG ratio of 3.38 and a beta of 1.02. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. Cadence Design Systems’s revenue was up 18.8% on a year-over-year basis. As a group, research analysts expect that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

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.