Capitolis Liquid Global Markets LLC Cuts Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Capitolis Liquid Global Markets LLC decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 43.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,900 shares of the software maker’s stock after selling 13,000 shares during the period. Capitolis Liquid Global Markets LLC’s holdings in Cadence Design Systems were worth $5,078,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Cadence Design Systems in the fourth quarter worth approximately $28,000. Ancora Advisors LLC lifted its holdings in Cadence Design Systems by 1,400.0% in the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker’s stock valued at $36,000 after acquiring an additional 112 shares during the period. Avalon Trust Co bought a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $39,000. Versant Capital Management Inc increased its holdings in Cadence Design Systems by 164.2% during the fourth 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 during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Cadence Design Systems during the fourth quarter valued at approximately $46,000. 84.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CDNS. Oppenheimer dropped their price objective on shares of Cadence Design Systems from $225.00 to $200.00 and set an “underperform” rating for the company in a report on Wednesday, March 19th. Bank of America raised their price objective on Cadence Design Systems from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Rosenblatt Securities increased their target price on shares of Cadence Design Systems from $295.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, April 29th. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $293.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Finally, Loop Capital cut their target price on Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $322.54.

Cadence Design Systems Stock Performance

CDNS opened at $308.83 on Tuesday. The firm has a fifty day moving average price of $259.41 and a 200 day moving average price of $283.43. The stock has a market cap of $84.72 billion, a P/E ratio of 80.01, a P/E/G ratio of 3.88 and a beta of 1.14. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $328.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 28th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.07. Cadence Design Systems had a return on equity of 29.24% and a net margin of 22.74%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. Cadence Design Systems’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $303.00, for a total value of $196,950.00. Following the completion of the transaction, the vice president now directly owns 108,149 shares of the company’s stock, valued at $32,769,147. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Scannell sold 4,710 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $300.00, for a total transaction of $1,413,000.00. Following the sale, the vice president now directly owns 28,442 shares in the company, valued at approximately $8,532,600. The trade was a 14.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,840 shares of company stock valued at $1,987,941 over the last 90 days. Corporate insiders own 1.99% of the company’s stock.

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.