Cwm LLC Sells 274 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Cwm LLC lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,357 shares of the software maker’s stock after selling 274 shares during the period. Cwm LLC’s holdings in Cadence Design Systems were worth $1,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDNS. RiverPark Advisors LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter worth about $26,000. ORG Partners LLC raised its holdings in shares of Cadence Design Systems by 911.1% in the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after acquiring an additional 82 shares during the last quarter. Annapolis Financial Services LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter worth about $32,000. Hollencrest Capital Management raised its holdings in shares of Cadence Design Systems by 637.5% in the 1st quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after acquiring an additional 102 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter worth about $45,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 0.1 %

CDNS opened at $282.14 on Tuesday. The company has a 50 day moving average of $269.49 and a 200 day moving average of $285.81. The company has a market cap of $76.86 billion, a PE ratio of 73.47, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. Cadence Design Systems, Inc. has a 12 month low of $228.66 and a 12 month high of $328.99. 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 (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $0.94 EPS. Cadence Design Systems’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CDNS shares. Robert W. Baird decreased their price objective on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research note on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective for the company in a research note on Tuesday, August 6th. Finally, KeyCorp increased their price objective on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $323.60.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total value of $173,056.00. Following the completion of the transaction, the vice president now directly owns 65,194 shares of the company’s stock, valued at $17,357,250.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the sale, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the sale, the vice president now owns 65,194 shares in the company, valued at approximately $17,357,250.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,847 shares of company stock valued at $7,302,782 in the last three months. Company insiders own 1.99% of the company’s stock.

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.