Missouri Trust & Investment Co Invests $27,000 in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Missouri Trust & Investment Co purchased a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 100 shares of the software maker’s stock, valued at approximately $27,000.

Other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC boosted its position in Cadence Design Systems by 911.1% in the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares in the last quarter. Chilton Capital Management LLC boosted its stake in Cadence Design Systems by 244.0% in the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock worth $53,000 after purchasing an additional 122 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Cadence Design Systems by 159.7% during the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock worth $62,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired 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 position in shares of Cadence Design Systems in the second quarter valued at about $77,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CDNS shares. Loop Capital began coverage on shares of Cadence Design Systems in a report on Monday. They set a “buy” rating and a $360.00 price objective on the stock. Oppenheimer began coverage on shares of Cadence Design Systems in a research note on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 29th. Needham & Company LLC lowered their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Berenberg Bank began coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $326.00.

Cadence Design Systems Stock Down 0.1 %

Shares of CDNS stock traded down $0.21 during trading on Tuesday, reaching $300.69. The company’s stock had a trading volume of 228,445 shares, compared to its average volume of 1,770,062. The company has a market cap of $82.47 billion, a price-to-earnings ratio of 78.98, a price-to-earnings-growth ratio of 3.68 and a beta of 1.02. The business has a fifty day moving average price of $270.73 and a 200-day moving average price of $282.30. 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 one year low of $241.29 and a one year high of $328.99.

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 analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s quarterly revenue was up 18.8% on a year-over-year basis. Analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $266.89, for a total value of $173,478.50. Following the completion of the sale, the vice president now owns 64,544 shares of the company’s stock, valued at approximately $17,226,148.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $266.89, for a total value of $173,478.50. Following the completion of the transaction, the vice president now owns 64,544 shares of the company’s stock, valued at $17,226,148.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $414,360.00. Following the sale, the director now owns 45,051 shares in the company, valued at $12,444,888.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,347 shares of company stock worth $7,734,616 over the last quarter. Company 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.