Donaldson Capital Management LLC Buys 613 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Donaldson Capital Management LLC boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,886 shares of the software maker’s stock after acquiring an additional 613 shares during the period. Donaldson Capital Management LLC’s holdings in Cadence Design Systems were worth $3,764,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CDNS. RiverPark Advisors LLC bought a new stake in shares of Cadence Design Systems during the 1st quarter valued at $26,000. ORG Partners LLC raised its holdings in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Chilton Capital Management LLC lifted its position in shares of Cadence Design Systems by 244.0% in the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after acquiring an additional 122 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Cadence Design Systems by 159.7% in the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock worth $62,000 after acquiring an additional 123 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Cadence Design Systems during the second quarter worth about $69,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CDNS shares. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price for the company. Robert W. Baird boosted their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Oppenheimer initiated coverage on Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. Finally, Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $323.17.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Chin-Chi Teng sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $276.36, for a total value of $2,763,600.00. Following the completion of the sale, the vice president now owns 95,408 shares in the company, valued at approximately $26,366,954.88. 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 Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $276.24, for a total transaction of $414,360.00. Following the transaction, the director now owns 45,051 shares of the company’s stock, valued at approximately $12,444,888.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chin-Chi Teng sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $276.36, for a total transaction of $2,763,600.00. Following the completion of the sale, the vice president now directly owns 95,408 shares of the company’s stock, valued at $26,366,954.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,697 shares of company stock valued at $7,555,216 in the last three months. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 2.2 %

CDNS stock opened at $282.09 on Monday. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The stock has a market capitalization of $77.37 billion, a price-to-earnings ratio of 74.04, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The company has a quick ratio of 1.32, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The firm’s fifty day simple moving average is $267.18 and its two-hundred day simple moving average is $281.64.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

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.