Secure Asset Management LLC Invests $225,000 in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Secure Asset Management LLC purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 831 shares of the software maker’s stock, valued at approximately $225,000.

Several other large investors also recently bought and sold shares of CDNS. International Assets Investment Management LLC boosted its stake in Cadence Design Systems by 21.2% during the 1st quarter. International Assets Investment Management LLC now owns 1,237 shares of the software maker’s stock worth $386,000 after purchasing an additional 216 shares during the last quarter. CHICAGO TRUST Co NA raised its position in shares of Cadence Design Systems by 10.5% in the first quarter. CHICAGO TRUST Co NA now owns 875 shares of the software maker’s stock valued at $272,000 after buying an additional 83 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Cadence Design Systems in the first quarter worth about $116,981,000. Ignite Planners LLC boosted its position in Cadence Design Systems by 21.6% during the first quarter. Ignite Planners LLC now owns 1,115 shares of the software maker’s stock worth $348,000 after acquiring an additional 198 shares during the last quarter. Finally, Whitaker Myers Wealth Managers LTD. purchased a new stake in Cadence Design Systems during the 1st quarter valued at about $247,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the transaction, the vice president now owns 65,194 shares of the company’s stock, valued at approximately $17,357,250.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Chin-Chi Teng sold 10,000 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.36, for a total value of $2,763,600.00. Following the completion of the transaction, the vice president now owns 95,408 shares in the company, valued at approximately $26,366,954.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,347 shares of company stock valued at $7,728,272. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Trading Down 1.7 %

Shares of CDNS stock opened at $258.52 on Friday. The company has a 50-day moving average of $269.59 and a two-hundred day moving average of $284.68. The firm has a market cap of $70.43 billion, a PE ratio of 67.32, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. Cadence Design Systems, Inc. has a 1-year low of $228.66 and a 1-year high of $328.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32.

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

Analyst Ratings Changes

A number of research firms have weighed in on CDNS. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Robert W. Baird lowered their price objective on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Monday, October 7th. Oppenheimer started coverage on Cadence Design Systems in a report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target on the stock. Finally, Berenberg Bank assumed coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.27.

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.