Yousif Capital Management LLC Has $9.94 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Yousif Capital Management LLC lowered its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,087 shares of the software maker’s stock after selling 3,824 shares during the quarter. Yousif Capital Management LLC’s holdings in Cadence Design Systems were worth $9,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of 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 valued at $41,850,000 after acquiring an additional 79,268 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Cadence Design Systems by 48.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock worth $258,136,000 after buying an additional 310,250 shares during the period. Avanza Fonder AB bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at about $6,046,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Cadence Design Systems in the third quarter valued at about $24,026,000. Finally, Zhang Financial LLC acquired a new position in shares of Cadence Design Systems in the fourth quarter worth approximately $381,000. Institutional investors own 84.85% of the company’s stock.

Insider Activity

In related news, VP Paul Scannell sold 3,171 shares of Cadence Design Systems 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anirudh Devgan sold 5,920 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total value of $1,799,916.80. Following the completion of the sale, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at $16,987,930.96. The trade was a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,416 shares of company stock worth $33,538,875 over the last three months. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $302.65 on Thursday. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $304.81 and a 200 day simple moving average of $284.68. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The company has a market cap of $83.01 billion, a P/E ratio of 79.44, a PEG ratio of 3.42 and a beta of 1.03.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Loop Capital started coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 target price 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 for the company in a research note on Tuesday, October 29th. StockNews.com raised shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Robert W. Baird lifted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Redburn Atlantic started coverage on Cadence Design Systems in a research report on Monday, January 13th. They set a “buy” rating and a $350.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.50.

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.