870 Shares in Cadence Design Systems, Inc. (NASDAQ:CDNS) Acquired by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 3rd quarter, HoldingsChannel reports. The fund acquired 870 shares of the software maker’s stock, valued at approximately $236,000.

Other institutional investors have also recently made changes to their positions in the company. TIAA Trust National Association increased its stake in Cadence Design Systems by 3.0% during the first quarter. TIAA Trust National Association now owns 2,369 shares of the software maker’s stock worth $737,000 after acquiring an additional 70 shares during the last quarter. Covestor Ltd raised its position in shares of Cadence Design Systems by 66.1% during the 1st quarter. Covestor Ltd now owns 568 shares of the software maker’s stock worth $177,000 after acquiring an additional 226 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Cadence Design Systems by 3.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 36,875 shares of the software maker’s stock valued at $11,478,000 after buying an additional 1,108 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in Cadence Design Systems by 18.5% in the first quarter. UniSuper Management Pty Ltd now owns 38,388 shares of the software maker’s stock valued at $11,949,000 after acquiring an additional 6,001 shares in the last quarter. Finally, Capitolis Liquid Global Markets LLC purchased a new position in Cadence Design Systems during the 1st quarter worth approximately $9,307,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cadence Design Systems news, SVP Karna Nisewaner sold 659 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $181,870.82. Following the transaction, the senior vice president now directly owns 16,029 shares in the company, valued at approximately $4,423,683.42. This trade represents a 3.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the sale, the chief financial officer now directly owns 38,654 shares in the company, valued at $10,278,485.14. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,634 shares of company stock worth $4,217,635. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CDNS shares. Berenberg Bank assumed coverage on Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target for the company. Oppenheimer initiated coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 target price on the stock. Mizuho began coverage on shares of Cadence Design Systems in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price target on the stock. Loop Capital initiated coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 target price for the company. Finally, Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.00.

Cadence Design Systems Trading Down 4.4 %

NASDAQ:CDNS opened at $289.71 on Monday. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The business has a 50 day moving average price of $274.49 and a two-hundred day moving average price of $282.88. The company has a market cap of $79.46 billion, a P/E ratio of 76.04, a price-to-earnings-growth ratio of 3.93 and a beta of 1.02. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

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