Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by World Investment Advisors LLC

World Investment Advisors LLC boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12,213.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 121,410 shares of the software maker’s stock after buying an additional 120,424 shares during the period. World Investment Advisors LLC’s holdings in Cadence Design Systems were worth $32,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDNS. ORG Partners LLC raised its stake in shares of Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Missouri Trust & Investment Co purchased a new stake in Cadence Design Systems during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Cadence Design Systems in the 3rd quarter valued at about $28,000. Chilton Capital Management LLC raised its position in Cadence Design Systems by 244.0% in the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after purchasing an additional 122 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Cadence Design Systems by 159.7% in the 2nd quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock valued at $62,000 after buying an additional 123 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. Oppenheimer began coverage on shares of Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective on the stock. Needham & Company LLC decreased their price objective on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Berenberg Bank started coverage on Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $326.00.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total transaction of $177,736.00. Following the completion of the sale, the vice president now owns 61,761 shares in the company, valued at $16,887,927.84. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $283.66, for a total value of $425,490.00. Following the sale, the director now directly owns 42,051 shares of the company’s stock, valued at approximately $11,928,186.66. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,634 shares of company stock worth $1,584,080. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Trading Up 1.2 %

NASDAQ:CDNS opened at $307.51 on Friday. The company has a market capitalization of $84.34 billion, a PE ratio of 80.71, a P/E/G ratio of 4.41 and a beta of 1.03. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The stock’s 50 day moving average price is $285.09 and its 200 day moving average price is $285.10. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS 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.