Inscription Capital LLC Purchases 71 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Inscription Capital LLC boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,159 shares of the software maker’s stock after purchasing an additional 71 shares during the period. Inscription Capital LLC’s holdings in Cadence Design Systems were worth $361,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. increased its holdings in Cadence Design Systems by 90.4% during the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after purchasing an additional 47 shares in the last quarter. Fortitude Family Office LLC bought a new position in Cadence Design Systems during the 4th quarter worth about $28,000. Union Savings Bank bought a new position in Cadence Design Systems during the 4th quarter worth about $33,000. Rise Advisors LLC acquired a new position in shares of Cadence Design Systems during the 1st quarter worth about $45,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Cadence Design Systems during the 4th quarter worth about $45,000. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of recent research reports. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Monday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a research note on Friday, May 17th. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. KeyCorp increased their price objective on shares of Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Robert W. Baird increased their price objective on shares of Cadence Design Systems from $302.00 to $322.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $331.11.

Insider Transactions at Cadence Design Systems

In other news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the transaction, the senior vice president now directly owns 20,480 shares of the company’s stock, valued at $5,639,372.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO John M. Wall sold 21,700 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $311.40, for a total value of $6,757,380.00. Following the transaction, the chief financial officer now directly owns 41,035 shares of the company’s stock, valued at $12,778,299. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Karna Nisewaner sold 600 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $275.36, for a total transaction of $165,216.00. Following the completion of the transaction, the senior vice president now directly owns 20,480 shares in the company, valued at $5,639,372.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,834 shares of company stock valued at $18,989,549. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Trading Down 0.0 %

Shares of CDNS stock opened at $318.39 on Friday. The firm has a 50 day moving average price of $292.83 and a two-hundred day moving average price of $292.05. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $86.74 billion, a PE ratio of 82.91, a price-to-earnings-growth ratio of 3.90 and a beta of 1.04. Cadence Design Systems, Inc. has a 12-month low of $217.77 and a 12-month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm earned $1.02 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts predict that Cadence Design Systems, Inc. will post 4.77 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.