Annex Advisory Services LLC Has $417,000 Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Annex Advisory Services LLC decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 42.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,355 shares of the software maker’s stock after selling 995 shares during the period. Annex Advisory Services LLC’s holdings in Cadence Design Systems were worth $417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CDNS. Ulland Investment Advisors LLC acquired a new position in Cadence Design Systems during the 1st quarter worth about $25,000. Valley National Advisers Inc. lifted its position in Cadence Design Systems by 90.4% during the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after purchasing an additional 47 shares during the period. RiverPark Advisors LLC acquired a new position in Cadence Design Systems during the 1st quarter valued at about $26,000. Annapolis Financial Services LLC acquired a new position in Cadence Design Systems during the 1st quarter valued at about $32,000. Finally, Union Savings Bank acquired a new position in Cadence Design Systems during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $287.14, for a total transaction of $430,710.00. Following the completion of the transaction, the director now directly owns 49,551 shares of the company’s stock, valued at approximately $14,228,074.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Karna Nisewaner sold 600 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $287.31, for a total value of $172,386.00. Following the completion of the transaction, the senior vice president now directly owns 19,880 shares of the company’s stock, valued at $5,711,722.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $287.14, for a total transaction of $430,710.00. Following the completion of the transaction, the director now directly owns 49,551 shares of the company’s stock, valued at $14,228,074.14. The disclosure for this sale can be found here. Insiders sold 49,184 shares of company stock valued at $14,719,573 in the last ninety days. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Up 0.5 %

NASDAQ CDNS traded up $1.45 during trading hours on Friday, reaching $270.13. 1,865,224 shares of the company’s stock were exchanged, compared to its average volume of 1,731,658. The company’s 50-day moving average is $294.41 and its two-hundred day moving average is $296.69. Cadence Design Systems, Inc. has a one year low of $217.77 and a one year high of $328.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. The company has a market capitalization of $73.59 billion, a price-to-earnings ratio of 70.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, July 22nd. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. Cadence Design Systems’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. On average, analysts forecast that Cadence Design Systems, Inc. will post 4.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the topic of a number of research reports. Robert W. Baird cut their target price on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Bank of America upped their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company increased their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.56.

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.