Catalyst Financial Partners LLC Grows Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Catalyst Financial Partners LLC boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,144 shares of the software maker’s stock after buying an additional 72 shares during the period. Catalyst Financial Partners LLC’s holdings in Cadence Design Systems were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNS. Creative Planning increased its stake in Cadence Design Systems by 9.1% in the third quarter. Creative Planning now owns 48,389 shares of the software maker’s stock worth $13,115,000 after purchasing an additional 4,038 shares during the period. Swedbank AB grew its position in shares of Cadence Design Systems by 15.1% during the 3rd quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock worth $475,336,000 after buying an additional 230,672 shares in the last quarter. Good Life Advisors LLC bought a new position in shares of Cadence Design Systems during the 3rd quarter worth $278,000. Bleakley Financial Group LLC grew its position in shares of Cadence Design Systems by 6.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,683 shares of the software maker’s stock worth $3,709,000 after buying an additional 790 shares in the last quarter. Finally, Teamwork Financial Advisors LLC grew its position in shares of Cadence Design Systems by 19.4% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 13,131 shares of the software maker’s stock worth $3,559,000 after buying an additional 2,136 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In other news, CFO John M. Wall sold 4,224 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was 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 directly owns 29,248 shares in the company, valued at $9,038,509.44. This trade represents a 12.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total value of $1,799,916.80. Following the completion of the transaction, the chief executive officer now owns 55,874 shares of the company’s stock, 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 90 days, insiders sold 108,416 shares of company stock valued at $33,538,875. 1.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 29th. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Robert W. Baird increased their price target on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Mizuho raised their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. 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 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.08.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $295.19 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The company has a market cap of $80.96 billion, a PE ratio of 77.48, a P/E/G ratio of 3.50 and a beta of 1.03. The business has a 50-day simple moving average of $303.55 and a two-hundred day simple moving average of $285.94. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99.

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.