Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $173,056.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the sale, the vice president now owns 65,194 shares of the company’s stock, valued at $17,357,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Paul Cunningham also recently made the following trade(s):

• On Tuesday, June 11th, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $295.00, for a total transaction of $191,750.00.

Cadence Design Systems Trading Down 3.7 %

Shares of CDNS opened at $250.31 on Thursday. The firm has a market cap of $68.19 billion, a P/E ratio of 65.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a 1 year low of $217.77 and a 1 year high of $328.99. The company has a 50 day simple moving average of $295.13 and a two-hundred day simple moving average of $297.06.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. Cadence Design Systems’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $0.94 earnings per share. On average, equities analysts expect that Cadence Design Systems, Inc. will post 4.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cadence Design Systems

Several large investors have recently made changes to their positions in CDNS. Parkside Financial Bank & Trust grew its holdings in Cadence Design Systems by 8.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 514 shares of the software maker’s stock valued at $140,000 after buying an additional 38 shares in the last quarter. Highview Capital Management LLC DE grew its holdings in shares of Cadence Design Systems by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock valued at $1,411,000 after purchasing an additional 39 shares in the last quarter. Fiduciary Trust Co increased its position in Cadence Design Systems by 0.6% in the fourth quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker’s stock worth $1,833,000 after purchasing an additional 39 shares during the last quarter. Capital Market Strategies LLC raised its stake in Cadence Design Systems by 3.1% during the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock valued at $400,000 after purchasing an additional 39 shares in the last quarter. Finally, GraniteShares Advisors LLC lifted its position in Cadence Design Systems by 1.2% during the first quarter. GraniteShares Advisors LLC now owns 3,468 shares of the software maker’s stock valued at $1,080,000 after purchasing an additional 40 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CDNS shares. KeyCorp raised their target price on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Robert W. Baird cut their price objective on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $334.56.

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.