Schechter Investment Advisors LLC Sells 52 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Schechter Investment Advisors LLC lowered its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,947 shares of the software maker’s stock after selling 52 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Cadence Design Systems were worth $1,075,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Cornerstone Advisors LLC bought a new position in shares of Cadence Design Systems during the 2nd quarter worth about $1,032,000. DekaBank Deutsche Girozentrale lifted its position in Cadence Design Systems by 34.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 386,993 shares of the software maker’s stock valued at $91,775,000 after acquiring an additional 99,251 shares in the last quarter. Thematics Asset Management lifted its position in Cadence Design Systems by 5.7% in the 2nd quarter. Thematics Asset Management now owns 99,296 shares of the software maker’s stock valued at $23,287,000 after acquiring an additional 5,382 shares in the last quarter. Patton Fund Management Inc. bought a new position in Cadence Design Systems in the 4th quarter valued at about $5,264,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Cadence Design Systems in the 4th quarter valued at about $55,443,000. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Vincentelli Albert Sangiovanni sold 11,500 shares of Cadence Design Systems stock in a transaction on Friday, January 12th. The shares were sold at an average price of $267.67, for a total value of $3,078,205.00. Following the transaction, the director now owns 59,183 shares in the company, valued at approximately $15,841,513.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cadence Design Systems news, Director James D. Plummer sold 2,412 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $315.40, for a total value of $760,744.80. Following the transaction, the director now owns 22,923 shares in the company, valued at $7,229,914.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 11,500 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $267.67, for a total transaction of $3,078,205.00. Following the transaction, the director now owns 59,183 shares in the company, valued at approximately $15,841,513.61. The disclosure for this sale can be found here. Insiders have sold a total of 200,244 shares of company stock worth $58,930,611 in the last 90 days. 1.67% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $311.34 on Thursday. Cadence Design Systems, Inc. has a 52-week low of $194.01 and a 52-week high of $327.36. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.13 and a current ratio of 1.24. The company has a market capitalization of $84.87 billion, a P/E ratio of 81.50, a P/E/G ratio of 3.85 and a beta of 1.04. The company has a fifty day moving average of $301.64 and a 200-day moving average of $271.51.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, February 12th. The software maker reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 4.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on CDNS. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, March 6th. Rosenblatt Securities lowered shares of Cadence Design Systems from a “buy” rating to a “neutral” rating and raised their price target for the stock from $265.00 to $280.00 in a research note on Tuesday, February 13th. StockNews.com upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. Wells Fargo & Company lifted their price objective on shares of Cadence Design Systems from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, KeyCorp raised their price target on shares of Cadence Design Systems from $325.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.33.

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.