Stephens Investment Management Group LLC Trims Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Stephens Investment Management Group LLC decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 46.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,047 shares of the software maker’s stock after selling 111,363 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Cadence Design Systems were worth $38,173,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Cadence Design Systems during the 4th quarter worth $28,000. Missouri Trust & Investment Co purchased a new position in shares of Cadence Design Systems in the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Cadence Design Systems during the 3rd quarter valued at about $28,000. Versant Capital Management Inc raised its holdings in shares of Cadence Design Systems by 164.2% during 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 boosted its stake in Cadence Design Systems by 56.6% in the third quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock worth $45,000 after buying an additional 60 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Paul Scannell sold 3,171 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $305.78, for a total transaction of $969,628.38. Following the completion of the transaction, the vice president now directly owns 14,318 shares in the company, valued at approximately $4,378,158.04. The trade was a 18.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the completion of the transaction, the vice president now owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,416 shares of company stock valued at $33,538,875 over the last 90 days. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $299.68 on Friday. The firm has a market capitalization of $82.19 billion, a PE ratio of 78.66, a P/E/G ratio of 3.50 and a beta of 1.03. The company has a 50 day moving average price of $304.59 and a 200-day moving average price of $285.02. 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.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company began coverage on Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target on the stock. Berenberg Bank started coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 target price on the stock. Robert W. Baird upped their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Loop Capital initiated coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They set a “buy” rating and a $360.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $329.50.

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.