Simon Quick Advisors LLC Has $371,000 Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Simon Quick Advisors LLC grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,234 shares of the software maker’s stock after buying an additional 131 shares during the quarter. Simon Quick Advisors LLC’s holdings in Cadence Design Systems were worth $371,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Missouri Trust & Investment Co purchased a new position in Cadence Design Systems during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Cadence Design Systems during the third quarter valued at $28,000. Versant Capital Management Inc lifted its stake in Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock worth $42,000 after acquiring an additional 87 shares in the last quarter. Prestige Wealth Management Group LLC boosted its position in Cadence Design Systems by 56.6% during 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 period. Finally, Meeder Asset Management Inc. grew its stake in Cadence Design Systems by 30.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock valued at $55,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

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

Cadence Design Systems Stock Up 0.9 %

CDNS stock opened at $324.52 on Friday. The stock has a market capitalization of $89.00 billion, a price-to-earnings ratio of 85.18, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04. The company has a 50-day moving average of $305.09 and a two-hundred day moving average of $285.05. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. 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 (NASDAQ:CDNS) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on CDNS shares. Berenberg Bank started coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target for the company. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Robert W. Baird increased their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Redburn Atlantic started coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Mizuho raised their price target on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. 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 stock. Based on data from MarketBeat.com, Cadence Design Systems 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.