Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lowered its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,791 shares of the software maker’s stock after selling 40 shares during the period. Cigna Investments Inc. New’s holdings in Cadence Design Systems were worth $839,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CDNS. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Cadence Design Systems by 345.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,336 shares of the software maker’s stock worth $633,000 after acquiring an additional 1,812 shares in the last quarter. CVA Family Office LLC grew its holdings in Cadence Design Systems by 27.0% during the 3rd quarter. CVA Family Office LLC now owns 376 shares of the software maker’s stock valued at $102,000 after purchasing an additional 80 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in Cadence Design Systems by 3.9% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 11,056 shares of the software maker’s stock valued at $2,997,000 after purchasing an additional 413 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in Cadence Design Systems by 52.8% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 472 shares of the software maker’s stock valued at $128,000 after purchasing an additional 163 shares in the last quarter. Finally, Procyon Advisors LLC grew its holdings in Cadence Design Systems by 3.6% during the 3rd quarter. Procyon Advisors LLC now owns 1,655 shares of the software maker’s stock valued at $449,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of a number of recent analyst reports. Loop Capital initiated coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 price target for the company. Berenberg Bank assumed coverage on shares of Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. Redburn Atlantic assumed coverage on shares of Cadence Design Systems in a report on Monday, January 13th. They set a “buy” rating and a $350.00 price objective for the company. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Robert W. Baird raised their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $329.50.

Cadence Design Systems Trading Up 2.0 %

Shares of NASDAQ:CDNS opened at $305.63 on Tuesday. The company has a market cap of $83.82 billion, a PE ratio of 80.22, a P/E/G ratio of 3.50 and a beta of 1.03. The company’s 50-day moving average price is $304.59 and its 200 day moving average price is $285.16. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $306.19, for a total transaction of $199,023.50. Following the sale, the vice president now directly owns 60,461 shares in the company, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anirudh Devgan sold 5,920 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the sale, the chief executive officer now owns 55,874 shares in the company, valued at $16,987,930.96. This trade represents a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,416 shares of company stock worth $33,538,875 in the last ninety days. 1.99% of the stock is owned by insiders.

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.