SYSTM Wealth Solutions LLC Has $1.01 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

SYSTM Wealth Solutions LLC lessened its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.6% during the second quarter, Holdings Channel reports. The institutional investor owned 3,282 shares of the software maker’s stock after selling 559 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Cadence Design Systems were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ulland Investment Advisors LLC acquired a new stake in Cadence Design Systems in the 1st quarter valued at approximately $25,000. RiverPark Advisors LLC acquired a new position in shares of Cadence Design Systems during the 1st quarter worth approximately $26,000. ORG Partners LLC increased its position in shares of Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares during the last quarter. Annapolis Financial Services LLC acquired a new position in shares of Cadence Design Systems during the 1st quarter worth approximately $32,000. Finally, Union Savings Bank acquired a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CDNS shares. Robert W. Baird lowered their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. KeyCorp boosted their price target on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. Finally, Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price for the company in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.56.

Cadence Design Systems Stock Performance

Shares of NASDAQ CDNS opened at $269.69 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. Cadence Design Systems, Inc. has a 12 month low of $227.05 and a 12 month high of $328.99. The stock has a 50 day moving average of $271.06 and a 200-day moving average of $290.86. The company has a market capitalization of $73.47 billion, a P/E ratio of 70.23, a P/E/G ratio of 3.19 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Insider Activity at Cadence Design Systems

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $314.57, for a total value of $471,855.00. Following the completion of the sale, the director now directly owns 46,551 shares in the company, valued at approximately $14,643,548.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cadence Design Systems news, VP Chin-Chi Teng sold 10,000 shares of Cadence Design Systems stock in a transaction on Monday, July 1st. The stock was sold at an average price of $305.84, for a total value of $3,058,400.00. Following the completion of the transaction, the vice president now directly owns 95,408 shares of the company’s stock, valued at approximately $29,179,582.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction on Monday, July 15th. The shares were sold at an average price of $314.57, for a total value of $471,855.00. Following the completion of the transaction, the director now directly owns 46,551 shares of the company’s stock, valued at $14,643,548.07. The disclosure for this sale can be found here. Insiders sold 36,772 shares of company stock worth $10,419,392 in the last ninety days. 1.99% of the stock is owned by company insiders.

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.