Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 829 shares of the software maker’s stock after purchasing an additional 124 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Cadence Design Systems were worth $255,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CDNS. Ulland Investment Advisors LLC acquired a new stake in Cadence Design Systems during the 1st quarter worth $25,000. RiverPark Advisors LLC purchased a new position in Cadence Design Systems during the 1st quarter worth $26,000. ORG Partners LLC raised its position in 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 buying an additional 82 shares during the last quarter. Annapolis Financial Services LLC purchased a new position in Cadence Design Systems during the 1st quarter worth $32,000. Finally, Union Savings Bank purchased a new position in Cadence Design Systems during the 4th quarter worth $33,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the sale, the chief financial officer now directly owns 38,654 shares of the company’s stock, valued at $10,278,485.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Chin-Chi Teng sold 32,184 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $297.45, for a total value of $9,573,130.80. Following the transaction, the vice president now owns 95,408 shares in the company, valued at $28,379,109.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,397 shares of company stock valued at $20,464,944. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 1.2 %

Shares of Cadence Design Systems stock traded up $3.30 during mid-day trading on Friday, hitting $268.93. 2,021,784 shares of the stock were exchanged, compared to its average volume of 2,129,199. Cadence Design Systems, Inc. has a twelve month low of $227.05 and a twelve month high of $328.99. The stock has a market capitalization of $73.64 billion, a price-to-earnings ratio of 70.03, a price-to-earnings-growth ratio of 3.24 and a beta of 1.03. The company has a 50-day simple moving average of $284.47 and a 200 day simple moving average of $294.25. 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 earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (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 business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Cadence Design Systems, Inc. will post 4.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, July 23rd. KeyCorp upped their price objective on shares of Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird cut 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 report on Tuesday, July 23rd. Bank of America increased their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $334.56.

About Cadence Design Systems

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.