Kavar Capital Partners Group LLC Has $484,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Kavar Capital Partners Group LLC grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 38.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,904 shares of the software maker’s stock after buying an additional 525 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Cadence Design Systems were worth $484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC increased its holdings in Cadence Design Systems by 1,400.0% during the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker’s stock worth $36,000 after purchasing an additional 112 shares in the last quarter. Avalon Trust Co purchased a new position in shares of Cadence Design Systems during the fourth quarter valued at approximately $39,000. OFI Invest Asset Management bought a new stake in Cadence Design Systems during the fourth quarter worth $46,000. Synergy Investment Management LLC purchased a new stake in Cadence Design Systems in the 4th quarter valued at $50,000. Finally, HWG Holdings LP bought a new position in Cadence Design Systems during the 1st quarter valued at $54,000. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Trading Up 0.2%

NASDAQ:CDNS opened at $297.53 on Thursday. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $326.19. The company has a current ratio of 3.07, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $298.96 and its 200 day moving average is $286.68. The stock has a market capitalization of $81.24 billion, a PE ratio of 75.32, a price-to-earnings-growth ratio of 4.11 and a beta of 0.98.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.07. Cadence Design Systems had a return on equity of 29.36% and a net margin of 22.18%. 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 company posted $1.17 earnings per share. The business’s revenue was up 23.1% on a year-over-year basis. Sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $302.00, for a total value of $302,000.00. Following the completion of the transaction, the vice president now directly owns 106,499 shares in the company, valued at approximately $32,162,698. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction 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 owns 7,411 shares in the company, valued at approximately $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 19,625 shares of company stock worth $5,972,453. Company insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the subject of several recent analyst reports. Robert W. Baird upped their target price on shares of Cadence Design Systems from $293.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Mizuho upped their price objective on shares of Cadence Design Systems from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Bank of America lifted their target price on shares of Cadence Design Systems from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Needham & Company LLC restated a “buy” rating and issued a $325.00 target price on shares of Cadence Design Systems in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $300.00 to $325.00 in a research report on Thursday, April 24th. One investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.23.

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.