Mount Yale Investment Advisors LLC Purchases 920 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mount Yale Investment Advisors LLC increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 100.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,833 shares of the software maker’s stock after buying an additional 920 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Cadence Design Systems were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Missouri Trust & Investment Co bought a new position in shares of Cadence Design Systems during the third quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Cadence Design Systems during the 3rd quarter worth $28,000. Versant Capital Management Inc lifted its holdings in Cadence Design Systems by 164.2% during the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock worth $42,000 after buying an additional 87 shares during the period. Prestige Wealth Management Group LLC grew its position in shares of Cadence Design Systems by 56.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock valued at $45,000 after buying an additional 60 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Cadence Design Systems by 30.3% in the third quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock valued at $55,000 after buying an additional 47 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In other Cadence Design Systems news, CEO Anirudh Devgan sold 93,151 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the sale, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at approximately $17,320,940. The trade was a 62.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John M. Wall sold 4,224 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $309.03, for a total value of $1,305,342.72. Following the completion of the transaction, the chief financial officer now owns 29,248 shares in the company, valued at $9,038,509.44. This represents a 12.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock worth $33,528,267 in the last quarter. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $299.30 on Wednesday. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The stock’s 50 day moving average is $306.05 and its 200-day moving average is $284.72. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $82.09 billion, a price-to-earnings ratio of 78.56, a PEG ratio of 3.70 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. Sell-side analysts forecast that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CDNS. Mizuho upped their target price on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Robert W. Baird upped their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Needham & Company LLC lowered their price objective on 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. Finally, Wells Fargo & Company assumed coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $329.50.

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.