Stephens Investment Management Group LLC Sells 111,363 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Stephens Investment Management Group LLC decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 46.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,047 shares of the software maker’s stock after selling 111,363 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Cadence Design Systems were worth $38,173,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at $28,000. Missouri Trust & Investment Co acquired a new position in shares of Cadence Design Systems in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new stake in Cadence Design Systems in the 3rd quarter valued at $28,000. Versant Capital Management Inc increased its holdings in Cadence Design Systems by 164.2% during the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock worth $42,000 after purchasing an additional 87 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its position in shares of 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 worth $45,000 after buying an additional 60 shares during the period. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Redburn Atlantic assumed coverage on Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 price target for the company. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Needham & Company LLC cut their price target on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus target price of $329.50.

Insider Buying and Selling

In related news, VP Paul Scannell sold 3,171 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were 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. The trade was a 18.13 % decrease in their ownership of the stock. The transaction 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 Monday, February 3rd. The stock was sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the transaction, the vice president now owns 58,773 shares in the company, valued at $17,180,523.36. The trade was a 1.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,416 shares of company stock valued at $33,538,875. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Stock Down 1.1 %

Shares of NASDAQ CDNS opened at $299.68 on Friday. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The company’s 50 day moving average price is $304.59 and its 200-day moving average price is $285.02. The company has a market capitalization of $82.19 billion, a P/E ratio of 78.66, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. 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 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.