Highview Capital Management LLC DE Increases Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Highview Capital Management LLC DE increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,304 shares of the software maker’s stock after purchasing an additional 163 shares during the period. Highview Capital Management LLC DE’s holdings in Cadence Design Systems were worth $1,894,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CDNS. Nisa Investment Advisors LLC grew its position in Cadence Design Systems by 132.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock worth $41,850,000 after buying an additional 79,268 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Cadence Design Systems by 48.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock worth $258,136,000 after purchasing an additional 310,250 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Cadence Design Systems in the fourth quarter worth approximately $6,046,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Cadence Design Systems in the third quarter valued at approximately $24,026,000. Finally, Zhang Financial LLC bought a new stake in Cadence Design Systems during the fourth quarter valued at approximately $381,000. Institutional investors own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of several research reports. Mizuho upped their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company began coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price objective on the stock. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Needham & Company LLC reduced 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. Finally, Robert W. Baird boosted their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.08.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $295.19 on Monday. The business has a 50 day moving average of $303.30 and a 200 day moving average of $286.43. Cadence Design Systems, Inc. has a 52 week low of $241.29 and a 52 week high of $328.99. The company has a market cap of $80.96 billion, a PE ratio of 77.48, a P/E/G ratio of 3.50 and a beta of 1.03. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,920 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the transaction, the chief executive officer now owns 55,874 shares in the company, valued at approximately $16,987,930.96. This represents a 9.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the transaction, the vice president now owns 58,773 shares of the company’s stock, valued at approximately $17,180,523.36. The trade was a 1.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,416 shares of company stock worth $33,538,875. 1.99% of the stock is currently owned by corporate insiders.

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.