Schechter Investment Advisors LLC Has $1.08 Million Holdings in 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 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,947 shares of the software maker’s stock after selling 52 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Cadence Design Systems were worth $1,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in Cadence Design Systems in the 4th quarter valued at $28,000. VisionPoint Advisory Group LLC bought a new stake in Cadence Design Systems in the 2nd quarter valued at $27,000. OFI Invest Asset Management bought a new stake in Cadence Design Systems in the 3rd quarter valued at $26,000. Atlas Capital Advisors LLC increased its holdings 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 valued at $31,000 after buying an additional 100 shares during the period. Finally, State of Wyoming bought a new stake in shares of Cadence Design Systems in the 2nd quarter worth about $39,000. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

CDNS has been the topic of several analyst reports. Robert W. Baird upped their target price on shares of Cadence Design Systems from $289.00 to $302.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. StockNews.com upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th. Stifel Nicolaus upped their price target 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. Rosenblatt Securities downgraded shares of Cadence Design Systems from a “buy” rating to a “neutral” rating and upped their price target for the stock from $265.00 to $280.00 in a research report on Tuesday, February 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.33.

Insider Activity at Cadence Design Systems

In related news, VP Aneel Zaman sold 1,207 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total transaction of $366,807.30. Following the completion of the sale, the vice president now directly owns 61,150 shares of the company’s stock, valued at approximately $18,583,485. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Aneel Zaman sold 1,207 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total transaction of $366,807.30. Following the completion of the sale, the vice president now directly owns 61,150 shares of the company’s stock, valued at approximately $18,583,485. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas P. Beckley sold 65,268 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total value of $19,383,290.64. Following the sale, the vice president now directly owns 156,156 shares of the company’s stock, valued at $46,375,208.88. The disclosure for this sale can be found here. Insiders have sold 200,244 shares of company stock worth $58,930,611 in the last ninety days. Company insiders own 1.67% of the company’s stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $311.34 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.09. Cadence Design Systems, Inc. has a 1 year low of $194.01 and a 1 year high of $327.36. The company has a market cap of $84.87 billion, a PE ratio of 81.50, a PEG ratio of 3.85 and a beta of 1.04. The company’s 50-day moving average is $301.64 and its two-hundred day moving average is $271.51.

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