Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Purchased by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 47.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,118 shares of the software maker’s stock after buying an additional 360 shares during the period. Quotient Wealth Partners LLC’s holdings in Cadence Design Systems were worth $336,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CDNS. Golden State Wealth Management LLC acquired a new stake in Cadence Design Systems in the 4th quarter valued at about $28,000. Missouri Trust & Investment Co acquired a new stake in shares of Cadence Design Systems in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in Cadence Design Systems during the third quarter worth approximately $28,000. Versant Capital Management Inc grew its holdings in Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after buying an additional 87 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its stake in shares of Cadence Design Systems by 56.6% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock worth $45,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 1.1 %

Shares of NASDAQ:CDNS opened at $299.68 on Monday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The stock has a market cap of $82.19 billion, a price-to-earnings ratio of 78.66, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. The firm’s 50 day moving average price is $304.59 and its 200 day moving average price is $285.03.

Analyst Upgrades and Downgrades

CDNS has been the topic of several recent analyst reports. Needham & Company LLC decreased their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Berenberg Bank initiated coverage on Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price objective on the stock. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Redburn Atlantic started coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Loop Capital initiated coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They issued a “buy” rating and a $360.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $329.50.

Insider Transactions at Cadence Design Systems

In related news, CFO John M. Wall sold 4,224 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $309.03, for a total value of $1,305,342.72. Following the completion of the transaction, the chief financial officer now directly owns 29,248 shares of the company’s stock, valued at $9,038,509.44. This represents a 12.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anirudh Devgan sold 93,151 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the transaction, the chief executive officer now owns 55,874 shares in the company, valued at $17,320,940. This represents a 62.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 108,416 shares of company stock valued at $33,538,875. Insiders own 1.99% of the company’s stock.

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.