Schechter Investment Advisors LLC Sells 52 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Schechter Investment Advisors LLC reduced its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,947 shares of the software maker’s stock after selling 52 shares during the period. Schechter Investment Advisors LLC’s holdings in Cadence Design Systems were worth $1,075,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CDNS. OFI Invest Asset Management bought a new stake in shares of Cadence Design Systems during the 3rd quarter worth $26,000. VisionPoint Advisory Group LLC bought a new stake in shares of Cadence Design Systems during the 2nd quarter worth $27,000. Fortitude Family Office LLC bought a new stake in shares of Cadence Design Systems during the 4th quarter worth $28,000. Atlas Capital Advisors LLC raised its position in Cadence Design Systems by 322.6% in the 2nd quarter. Atlas Capital Advisors LLC now owns 131 shares of the software maker’s stock worth $31,000 after purchasing an additional 100 shares during the period. Finally, Zions Bancorporation N.A. raised its position in Cadence Design Systems by 108.3% in the 1st quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock worth $37,000 after purchasing an additional 117 shares during the period. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $311.34 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average price is $301.64 and its 200-day moving average price is $271.51. Cadence Design Systems, Inc. has a 52 week low of $194.01 and a 52 week high of $327.36. The stock has a market cap of $84.87 billion, a P/E ratio of 81.50, a P/E/G ratio of 3.85 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, February 12th. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.05. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

CDNS has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Cadence Design Systems from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Stifel Nicolaus lifted their target price on shares of Cadence Design Systems from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Morgan Stanley upgraded shares of Cadence Design Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $260.00 to $350.00 in a research report on Wednesday, February 14th. Rosenblatt Securities cut shares of Cadence Design Systems from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $265.00 to $280.00 in a research report on Tuesday, February 13th. Finally, Robert W. Baird increased their price target on shares of Cadence Design Systems from $289.00 to $302.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $311.33.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Thomas P. Beckley sold 65,268 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the sale, the vice president now directly owns 156,156 shares in the company, valued at approximately $46,375,208.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cadence Design Systems news, VP Thomas P. Beckley sold 65,268 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the sale, the vice president now directly owns 156,156 shares in the company, valued at approximately $46,375,208.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Vincentelli Albert Sangiovanni sold 11,500 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $267.67, for a total value of $3,078,205.00. Following the completion of the sale, the director now owns 59,183 shares of the company’s stock, valued at approximately $15,841,513.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,244 shares of company stock valued at $58,930,611. 1.67% of the stock is owned by corporate insiders.

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.