Captrust Financial Advisors Sells 8,859 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Captrust Financial Advisors cut its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 40.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,845 shares of the software maker’s stock after selling 8,859 shares during the quarter. Captrust Financial Advisors’ holdings in Cadence Design Systems were worth $3,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $28,000. Ancora Advisors LLC boosted its holdings in Cadence Design Systems by 1,400.0% in the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker’s stock valued at $36,000 after purchasing an additional 112 shares during the period. Avalon Trust Co acquired a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $39,000. OFI Invest Asset Management bought a new position in shares of Cadence Design Systems during the fourth quarter worth approximately $46,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cadence Design Systems in the fourth quarter valued at approximately $50,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent research reports. Loop Capital lowered their price objective on Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $325.00 price target on shares of Cadence Design Systems in a research note on Tuesday, April 29th. Oppenheimer reduced their price objective on shares of Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 19th. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Rosenblatt Securities lifted their price objective on shares of Cadence Design Systems from $295.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $322.54.

Cadence Design Systems Trading Down 0.7 %

Shares of CDNS stock opened at $305.78 on Friday. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $83.49 billion, a P/E ratio of 79.22, a P/E/G ratio of 3.88 and a beta of 1.04. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $328.99. The stock’s fifty day simple moving average is $264.34 and its 200 day simple moving average is $284.51.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.07. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the firm posted $1.17 EPS. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total value of $164,216.00. Following the transaction, the vice president now owns 108,799 shares in the company, valued at $27,486,979.36. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $275.00, for a total value of $49,500.00. Following the sale, the director now directly owns 7,411 shares of the company’s stock, valued at $2,038,025. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,577 shares of company stock valued at $5,316,411. 0.37% of the stock is currently owned by company insiders.

Cadence Design Systems Company 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.