Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham Sells 1,000 Shares

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Free Report) VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $310.46, for a total value of $310,460.00. Following the completion of the sale, the vice president now directly owns 68,144 shares in the company, valued at $21,155,986.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $310.58 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 has a 50-day simple moving average of $303.93 and a two-hundred day simple moving average of $274.01. The stock has a market cap of $84.55 billion, a price-to-earnings ratio of 81.30, a PEG ratio of 3.80 and a beta of 1.04. Cadence Design Systems, Inc. has a 52 week low of $194.01 and a 52 week high of $327.36.

Cadence Design Systems (NASDAQ:CDNSGet Free Report) last announced its quarterly earnings results on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.05. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. On average, analysts expect that Cadence Design Systems, Inc. will post 4.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley raised Cadence Design Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $260.00 to $350.00 in a report on Wednesday, February 14th. Stifel Nicolaus upped their price target on Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Wells Fargo & Company upped their price target on Cadence Design Systems from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. StockNews.com raised Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. Finally, Rosenblatt Securities downgraded Cadence Design Systems from a “buy” rating to a “neutral” rating and upped their price target for the company from $265.00 to $280.00 in a report on Tuesday, February 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $311.33.

Read Our Latest Research Report on Cadence Design Systems

Institutional Investors Weigh In On Cadence Design Systems

Institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its position 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 worth $140,000 after acquiring an additional 38 shares during the period. Highview Capital Management LLC DE lifted its position in Cadence Design Systems by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock worth $1,411,000 after acquiring an additional 39 shares during the period. Fiduciary Trust Co lifted its position in Cadence Design Systems by 0.6% during the 4th quarter. Fiduciary Trust Co now owns 6,730 shares of the software maker’s stock worth $1,833,000 after acquiring an additional 39 shares during the period. Harbour Investments Inc. lifted its position in Cadence Design Systems by 66.1% during the 4th quarter. Harbour Investments Inc. now owns 98 shares of the software maker’s stock worth $27,000 after acquiring an additional 39 shares during the period. Finally, BSW Wealth Partners lifted its position in Cadence Design Systems by 2.8% during the 4th quarter. BSW Wealth Partners now owns 1,624 shares of the software maker’s stock worth $442,000 after acquiring an additional 44 shares during the period. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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