HBW Advisory Services LLC Buys 404 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

HBW Advisory Services LLC boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 22.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,203 shares of the software maker’s stock after purchasing an additional 404 shares during the quarter. HBW Advisory Services LLC’s holdings in Cadence Design Systems were worth $662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. LVM Capital Management Ltd. MI bought a new position in shares of Cadence Design Systems during the fourth quarter valued at approximately $281,000. Capital Market Strategies LLC boosted its position in Cadence Design Systems by 15.7% during the 4th quarter. Capital Market Strategies LLC now owns 1,545 shares of the software maker’s stock valued at $464,000 after acquiring an additional 210 shares in the last quarter. Pensionfund Sabic lifted its stake in shares of Cadence Design Systems by 22.2% during the 4th quarter. Pensionfund Sabic now owns 5,500 shares of the software maker’s stock worth $1,653,000 after purchasing an additional 1,000 shares during the last quarter. Nordea Investment Management AB grew its stake in Cadence Design Systems by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 2,933,392 shares of the software maker’s stock valued at $885,356,000 after purchasing an additional 178,212 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in Cadence Design Systems by 7.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,472 shares of the software maker’s stock worth $1,344,000 after purchasing an additional 312 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $304.84, for a total transaction of $198,146.00. Following the transaction, the vice president now owns 59,311 shares in the company, valued at approximately $18,080,365.24. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total value of $1,799,916.80. Following the completion of the sale, the chief executive officer now directly owns 55,874 shares in the company, valued at approximately $16,987,930.96. The trade was a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,916 shares of company stock valued at $33,953,757. Corporate insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CDNS shares. Berenberg Bank began coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price objective on the stock. Needham & Company LLC reduced their price target on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Oppenheimer assumed coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective for the company. Robert W. Baird upped their target price on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company initiated coverage on shares of Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $327.92.

Cadence Design Systems Price Performance

Shares of CDNS opened at $299.00 on Friday. The business’s 50-day moving average is $304.20 and its two-hundred day moving average is $285.76. The company has a market capitalization of $82.00 billion, a P/E ratio of 78.48, a P/E/G ratio of 4.16 and a beta of 1.03. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the business earned $1.01 earnings per share. Cadence Design Systems’s quarterly revenue was up 18.8% on a year-over-year basis. Research analysts predict that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

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.