Mount Yale Investment Advisors LLC Purchases 920 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Mount Yale Investment Advisors LLC increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 100.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,833 shares of the software maker’s stock after buying an additional 920 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Cadence Design Systems were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Missouri Trust & Investment Co purchased a new position in Cadence Design Systems in the third quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Cadence Design Systems during the 3rd quarter worth $28,000. Versant Capital Management Inc boosted its holdings in shares of Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock worth $42,000 after buying an additional 87 shares during the last quarter. Prestige Wealth Management Group LLC grew its position in Cadence Design Systems by 56.6% during the third quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock valued at $45,000 after buying an additional 60 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Cadence Design Systems by 30.3% during the third quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock worth $55,000 after buying an additional 47 shares during the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Berenberg Bank started coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price for the company. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Wells Fargo & Company initiated coverage on Cadence Design Systems in a research note on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target for the company. Redburn Atlantic began 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 on the stock. Finally, Loop Capital assumed coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $329.50.

Insider Activity at Cadence Design Systems

In other news, VP Paul Scannell sold 3,171 shares of the stock in a transaction dated 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 directly owns 14,318 shares in the company, valued at approximately $4,378,158.04. This represents a 18.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $276.00, for a total value of $179,400.00. Following the completion of the sale, the vice president now owns 61,111 shares of the company’s stock, valued at $16,866,636. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock valued at $33,528,267 over the last three months. 1.99% of the stock is owned by corporate insiders.

Cadence Design Systems Trading Up 3.3 %

Shares of CDNS stock opened at $299.30 on Wednesday. The company has a market capitalization of $82.09 billion, a PE ratio of 78.56, a price-to-earnings-growth ratio of 3.70 and a beta of 1.04. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The business’s fifty day moving average is $306.05 and its 200 day moving average is $284.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the company posted $1.01 EPS. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

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.