Kavar Capital Partners Group LLC Buys New Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Kavar Capital Partners Group LLC purchased a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,379 shares of the software maker’s stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDNS. Avior Wealth Management LLC grew its position in shares of Cadence Design Systems by 12.4% during the 4th quarter. Avior Wealth Management LLC now owns 326 shares of the software maker’s stock valued at $98,000 after acquiring an additional 36 shares during the period. Dudley Capital Management LLC grew its stake in Cadence Design Systems by 4.3% in the 3rd quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock valued at $257,000 after acquiring an additional 39 shares during the period. Trust Point Inc. increased its holdings in Cadence Design Systems by 2.9% in the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock worth $379,000 after acquiring an additional 40 shares in the last quarter. Falcon Wealth Planning raised its position in Cadence Design Systems by 5.1% during the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock worth $222,000 after acquiring an additional 40 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Cadence Design Systems by 0.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock valued at $1,501,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

CDNS stock opened at $320.48 on Monday. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The business has a fifty day moving average of $306.14 and a two-hundred day moving average of $285.14. The stock has a market cap of $87.89 billion, a price-to-earnings ratio of 84.12, a price-to-earnings-growth ratio of 3.70 and a beta of 1.04. 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 (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (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 net margin of 23.87% and a return on equity of 28.49%. Cadence Design Systems’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on CDNS. Mizuho boosted their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Redburn Atlantic assumed coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 price objective for the company. Needham & Company LLC lowered 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 research note on Tuesday, October 29th. Wells Fargo & Company began coverage on shares of 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. Finally, Berenberg Bank assumed coverage on shares of Cadence Design Systems in a research note on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. One 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $329.50.

Insider Activity

In other Cadence Design Systems 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 value of $969,628.38. Following the sale, the vice president now owns 14,318 shares of the company’s stock, valued at $4,378,158.04. The trade was a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $306.19, for a total value of $199,023.50. Following the completion of the transaction, the vice president now directly owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. This represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,416 shares of company stock valued at $33,528,267. Company insiders own 1.99% of the company’s stock.

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.