Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Holdings Lifted by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 156.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,710 shares of the software maker’s stock after acquiring an additional 1,042 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in Cadence Design Systems were worth $450,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC boosted its position in shares of Cadence Design Systems by 223.8% in the 1st quarter. Empowered Funds LLC now owns 9,181 shares of the software maker’s stock valued at $2,858,000 after purchasing an additional 6,346 shares during the period. Norden Group LLC increased its position in shares of Cadence Design Systems by 1,659.3% in the first quarter. Norden Group LLC now owns 13,300 shares of the software maker’s stock worth $4,140,000 after acquiring an additional 12,544 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Cadence Design Systems by 58.1% in the first quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock worth $396,470,000 after acquiring an additional 468,195 shares in the last quarter. Park National Corp OH raised its holdings in shares of Cadence Design Systems by 19.8% during the second quarter. Park National Corp OH now owns 136,251 shares of the software maker’s stock valued at $41,931,000 after acquiring an additional 22,537 shares during the period. Finally, Teamwork Financial Advisors LLC lifted its position in shares of Cadence Design Systems by 40.0% in the 1st quarter. Teamwork Financial Advisors LLC now owns 35,151 shares of the software maker’s stock valued at $10,942,000 after acquiring an additional 10,037 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO John M. Wall sold 10,000 shares of Cadence Design Systems stock in a transaction dated 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 sale, the chief financial officer now directly owns 38,654 shares in the company, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the transaction, the vice president now directly owns 65,194 shares of the company’s stock, valued at approximately $17,357,250.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was 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 in the company, valued at approximately $10,278,485.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,847 shares of company stock valued at $7,302,782 over the last ninety days. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on CDNS shares. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Monday, October 7th. Robert W. Baird dropped their price target on 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. KeyCorp raised their price objective 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. Berenberg Bank initiated coverage on Cadence Design Systems in a report on Tuesday. They issued a “buy” rating and a $320.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $323.27.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded down $12.67 during midday trading on Tuesday, hitting $269.47. The company had a trading volume of 2,476,580 shares, compared to its average volume of 1,704,665. The stock has a market cap of $73.41 billion, a PE ratio of 71.64, a P/E/G ratio of 3.37 and a beta of 1.02. Cadence Design Systems, Inc. has a 1-year low of $228.66 and a 1-year high of $328.99. The business’s 50 day simple moving average is $269.49 and its two-hundred day simple moving average is $285.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32.

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

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.