DGS Capital Management LLC Sells 818 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

DGS Capital Management LLC lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,638 shares of the software maker’s stock after selling 818 shares during the quarter. DGS Capital Management LLC’s holdings in Cadence Design Systems were worth $1,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNS. Dudley Capital Management LLC grew its holdings in shares of Cadence Design Systems by 4.3% during the third quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock worth $257,000 after buying an additional 39 shares in the last quarter. Trust Point Inc. raised its holdings in shares of Cadence Design Systems by 2.9% in the third quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after purchasing an additional 40 shares during the last quarter. Falcon Wealth Planning lifted its position in shares of Cadence Design Systems by 5.1% in the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock worth $222,000 after purchasing an additional 40 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Cadence Design Systems by 0.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock worth $1,501,000 after buying an additional 40 shares in the last quarter. Finally, Venture Visionary Partners LLC raised its holdings in Cadence Design Systems by 2.5% during the third quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock worth $463,000 after acquiring an additional 41 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $273.44, for a total value of $177,736.00. Following the transaction, the vice president now owns 61,761 shares in the company, valued at $16,887,927.84. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Karna Nisewaner sold 659 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $181,870.82. Following the transaction, the senior vice president now directly owns 16,029 shares in the company, valued at approximately $4,423,683.42. This represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,634 shares of company stock valued at $1,584,080 over the last ninety days. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Trading Down 0.8 %

NASDAQ:CDNS traded down $2.36 during trading hours on Friday, hitting $305.86. 203,821 shares of the company were exchanged, compared to its average volume of 1,752,932. The company has a fifty day simple moving average of $289.00 and a 200 day simple moving average of $285.60. 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 stock has a market capitalization of $83.89 billion, a price-to-earnings ratio of 80.90, a price-to-earnings-growth ratio of 4.19 and a beta of 1.03. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 earnings per share. Sell-side analysts expect that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CDNS shares. Wells Fargo & Company initiated coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target on the stock. Berenberg Bank initiated coverage on Cadence Design Systems in a research note on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price objective on the stock. Loop Capital began coverage on Cadence Design Systems in a research note on Monday, November 11th. They set a “buy” rating and a $360.00 target price for the company. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Finally, Oppenheimer assumed coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $327.92.

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.