Charles Schwab Investment Management Inc. boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,637,455 shares of the software maker's stock after acquiring an additional 32,151 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.60% of Cadence Design Systems worth $443,799,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. ORG Partners LLC lifted its stake in shares of Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker's stock valued at $28,000 after purchasing an additional 82 shares during the period. Missouri Trust & Investment Co acquired a new stake in shares of Cadence Design Systems during the 3rd quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Cadence Design Systems during the third quarter worth $28,000. Chilton Capital Management LLC grew its holdings in Cadence Design Systems by 244.0% in the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker's stock valued at $53,000 after purchasing an additional 122 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Cadence Design Systems by 159.7% in the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker's stock valued at $62,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company's stock.
Several brokerages have issued reports on CDNS. Berenberg Bank began coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a "buy" rating and a $320.00 price target on the stock. Oppenheimer assumed coverage on Cadence Design Systems in a report on Wednesday, September 25th. They set an "underperform" rating and a $225.00 target price on the stock. Rosenblatt Securities restated a "neutral" rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Mizuho initiated coverage on Cadence Design Systems in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $325.00 price objective for the company. Finally, Piper Sandler upgraded shares of Cadence Design Systems from a "neutral" rating to an "overweight" rating and set a $318.00 target price on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $326.00.
Read Our Latest Stock Report on CDNS
In related news, VP Paul Cunningham sold 650 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $266.89, for a total transaction of $173,478.50. Following the transaction, the vice president now directly owns 64,544 shares of the company's stock, valued at approximately $17,226,148.16. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John M. Wall sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the sale, the chief financial officer now directly owns 38,654 shares of the company's stock, valued at $10,278,485.14. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,634 shares of company stock valued at $4,217,635 over the last ninety days. Corporate insiders own 1.99% of the company's stock.
Shares of NASDAQ CDNS opened at $306.39 on Friday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $84.03 billion, a PE ratio of 80.42, a P/E/G ratio of 4.07 and a beta of 1.02. The firm has a fifty day moving average of $277.72 and a 200-day moving average of $283.44. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99.
Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $1.01 EPS. The company's quarterly revenue was up 18.8% compared to the same quarter last year. On average, analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.
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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