Werba Rubin Papier Wealth Management Grows Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Werba Rubin Papier Wealth Management increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,859 shares of the software maker’s stock after buying an additional 413 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in Cadence Design Systems were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its stake in Cadence Design Systems by 8.3% during the 4th quarter. Gilbert & Cook Inc. now owns 3,619 shares of the software maker’s stock valued at $986,000 after acquiring an additional 278 shares during the period. Private Advisor Group LLC boosted its holdings in Cadence Design Systems by 19.2% in the fourth quarter. Private Advisor Group LLC now owns 5,474 shares of the software maker’s stock valued at $1,491,000 after purchasing an additional 881 shares during the last quarter. Principal Securities Inc. acquired a new stake in Cadence Design Systems during the 4th quarter worth about $948,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of Cadence Design Systems by 3.6% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,369 shares of the software maker’s stock valued at $5,003,000 after buying an additional 632 shares during the last quarter. Finally, AGF Management Ltd. boosted its stake in shares of Cadence Design Systems by 39.7% in the fourth quarter. AGF Management Ltd. now owns 10,283 shares of the software maker’s stock worth $2,801,000 after buying an additional 2,922 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock traded down $3.33 on Friday, hitting $247.52. 1,740,196 shares of the company were exchanged, compared to its average volume of 1,720,919. The company has a 50-day moving average price of $279.11 and a 200 day moving average price of $292.91. The stock has a market capitalization of $67.43 billion, a price-to-earnings ratio of 64.46, a price-to-earnings-growth ratio of 3.24 and a beta of 1.02. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. Cadence Design Systems, Inc. has a 1-year low of $227.05 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $314.57, for a total value of $471,855.00. Following the sale, the director now directly owns 46,551 shares in the company, valued at approximately $14,643,548.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the transaction, the chief financial officer now owns 38,654 shares of the company’s stock, valued at $10,278,485.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $314.57, for a total transaction of $471,855.00. Following the sale, the director now directly owns 46,551 shares in the company, valued at $14,643,548.07. The disclosure for this sale can be found here. Insiders have sold 38,263 shares of company stock worth $10,892,906 in the last ninety days. 1.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, August 6th. Bank of America raised their price target 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. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective for the company in a research report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Finally, KeyCorp increased their price target on Cadence Design Systems from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.56.

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.