Sigma Planning Corp Grows Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Sigma Planning Corp increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNSFree Report) by 411.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,806 shares of the software maker’s stock after buying an additional 5,474 shares during the quarter. Sigma Planning Corp’s holdings in Cadence Design Systems were worth $1,854,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of Cadence Design Systems by 3.1% during the 1st quarter. State Street Corp now owns 11,406,581 shares of the software maker’s stock valued at $2,396,402,000 after buying an additional 344,518 shares during the period. Jennison Associates LLC raised its position in shares of Cadence Design Systems by 8.7% during the 3rd quarter. Jennison Associates LLC now owns 7,047,231 shares of the software maker’s stock valued at $1,651,166,000 after buying an additional 564,085 shares during the period. Geode Capital Management LLC increased its holdings in Cadence Design Systems by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 6,188,531 shares of the software maker’s stock valued at $1,297,925,000 after purchasing an additional 103,213 shares during the last quarter. Norges Bank acquired a new stake in Cadence Design Systems in the 4th quarter valued at approximately $770,945,000. Finally, Northern Trust Corp increased its holdings in Cadence Design Systems by 5.6% in the 3rd quarter. Northern Trust Corp now owns 2,995,849 shares of the software maker’s stock valued at $701,927,000 after purchasing an additional 158,031 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other news, VP Thomas P. Beckley sold 65,268 shares of Cadence Design Systems stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the sale, the vice president now directly owns 156,156 shares of the company’s stock, valued at approximately $46,375,208.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Thomas P. Beckley sold 65,268 shares of Cadence Design Systems stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the completion of the sale, the vice president now directly owns 156,156 shares of the company’s stock, valued at approximately $46,375,208.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Aneel Zaman sold 1,207 shares of Cadence Design Systems stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $303.90, for a total transaction of $366,807.30. Following the sale, the vice president now directly owns 61,150 shares of the company’s stock, valued at $18,583,485. The disclosure for this sale can be found here. In the last three months, insiders sold 177,544 shares of company stock valued at $53,581,207. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CDNS shares. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Monday. Piper Sandler started coverage on shares of Cadence Design Systems in a report on Thursday, April 4th. They issued a “neutral” rating and a $334.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Robert W. Baird lifted their target price on shares of Cadence Design Systems from $302.00 to $322.00 and gave the company an “outperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $318.10.

Check Out Our Latest Stock Report on CDNS

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $281.75 on Monday. The company has a market cap of $76.70 billion, a price-to-earnings ratio of 73.36, a price-to-earnings-growth ratio of 3.41 and a beta of 1.04. The company has a fifty day simple moving average of $305.52 and a two-hundred day simple moving average of $280.37. Cadence Design Systems, Inc. has a 52 week low of $194.01 and a 52 week high of $327.36. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.09.

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

Cadence Design Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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