Weaver Capital Management LLC Has $470,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Weaver Capital Management LLC increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,848 shares of the software maker’s stock after acquiring an additional 165 shares during the period. Weaver Capital Management LLC’s holdings in Cadence Design Systems were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cadence Design Systems by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,909,187 shares of the software maker’s stock worth $7,784,674,000 after acquiring an additional 201,340 shares in the last quarter. FMR LLC boosted its position in Cadence Design Systems by 8.7% in the fourth quarter. FMR LLC now owns 7,978,652 shares of the software maker’s stock valued at $2,397,266,000 after buying an additional 639,146 shares in the last quarter. Geode Capital Management LLC boosted its position in Cadence Design Systems by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,021,405 shares of the software maker’s stock valued at $1,806,019,000 after buying an additional 135,251 shares in the last quarter. Alliancebernstein L.P. boosted its position in Cadence Design Systems by 12.5% in the fourth quarter. Alliancebernstein L.P. now owns 5,676,194 shares of the software maker’s stock valued at $1,705,469,000 after buying an additional 632,175 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Cadence Design Systems by 5.2% in the fourth quarter. Franklin Resources Inc. now owns 4,821,666 shares of the software maker’s stock valued at $1,448,718,000 after buying an additional 238,535 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total transaction of $164,216.00. Following the completion of the transaction, the vice president now owns 108,799 shares of the company’s stock, valued at $27,486,979.36. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Scannell sold 4,710 shares of Cadence Design Systems stock in a transaction 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 transaction, the vice president now directly owns 28,442 shares of the company’s stock, valued at $8,532,600. This represents a 14.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,625 shares of company stock valued at $5,972,453 over the last quarter. Insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CDNS shares. Needham & Company LLC restated a “buy” rating and issued a $325.00 target price on shares of Cadence Design Systems in a research report on Tuesday, May 13th. JPMorgan Chase & Co. upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $300.00 to $325.00 in a research report on Thursday, April 24th. Robert W. Baird raised their target price on shares of Cadence Design Systems from $293.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Rosenblatt Securities raised 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 report on Tuesday, April 29th. Finally, Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. 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 company has an average rating of “Moderate Buy” and an average target price of $325.23.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $295.40 on Friday. The firm has a market cap of $80.66 billion, a PE ratio of 74.78, a price-to-earnings-growth ratio of 4.11 and a beta of 0.98. The firm’s fifty day moving average is $296.88 and its 200-day moving average is $287.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.90 and a current ratio of 3.07. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $326.19.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 28th. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.07. Cadence Design Systems had a net margin of 22.18% and a return on equity of 29.36%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. Cadence Design Systems’s revenue was up 23.1% compared to the same quarter last year. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

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.