Crossmark Global Holdings Inc. Sells 3,450 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Crossmark Global Holdings Inc. lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,280 shares of the software maker’s stock after selling 3,450 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cadence Design Systems were worth $4,141,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CDNS. ORG Partners LLC lifted its holdings in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after acquiring an additional 82 shares during the period. Chilton Capital Management LLC lifted its holdings in Cadence Design Systems by 244.0% during the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock worth $53,000 after acquiring an additional 122 shares during the period. Larson Financial Group LLC raised its stake 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 during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Cadence Design Systems in the second quarter valued at $69,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Cadence Design Systems in the second quarter valued at $77,000. Institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $276.24, for a total transaction of $414,360.00. Following the completion of the sale, the director now directly owns 45,051 shares in the company, valued at $12,444,888.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $276.24, for a total value of $414,360.00. Following the completion of the sale, the director now owns 45,051 shares in the company, valued at approximately $12,444,888.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 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 28,347 shares of company stock worth $7,734,616 in the last ninety days. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $300.90 on Tuesday. The business has a 50-day simple moving average of $270.09 and a 200 day simple moving average of $282.13. Cadence Design Systems, Inc. has a 52 week low of $241.29 and a 52 week high of $328.99. 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 cap of $82.52 billion, a price-to-earnings ratio of 78.98, a PEG ratio of 3.68 and a beta of 1.02.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.44 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 EPS. On average, research analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CDNS has been the topic of several research reports. Mizuho assumed coverage on Cadence Design Systems in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 target price on the stock. Oppenheimer assumed coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target for the company. Robert W. Baird lifted their price target on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Needham & Company LLC reduced their price target on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Piper Sandler upgraded Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.00.

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.