Everpar Advisors LLC Takes Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Everpar Advisors LLC acquired a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 694 shares of the software maker’s stock, valued at approximately $209,000.

A number of other large investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Cadence Design Systems by 48.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock worth $258,136,000 after purchasing an additional 310,250 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in Cadence Design Systems during the 3rd quarter worth approximately $24,026,000. Teamwork Financial Advisors LLC grew its holdings in shares of Cadence Design Systems by 19.4% in the third quarter. Teamwork Financial Advisors LLC now owns 13,131 shares of the software maker’s stock worth $3,559,000 after purchasing an additional 2,136 shares during the last quarter. Jennison Associates LLC increased its holdings in Cadence Design Systems by 2.7% during the 3rd quarter. Jennison Associates LLC now owns 7,606,175 shares of the software maker’s stock valued at $2,061,502,000 after purchasing an additional 198,230 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in shares of Cadence Design Systems by 5.3% during the third quarter. Vontobel Holding Ltd. now owns 228,597 shares of the software maker’s stock valued at $61,957,000 after acquiring an additional 11,568 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $276.00, for a total transaction of $179,400.00. Following the transaction, the vice president now owns 61,111 shares of the company’s stock, valued at approximately $16,866,636. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul Scannell sold 3,171 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $305.78, for a total transaction of $969,628.38. Following the completion of the sale, the vice president now directly owns 14,318 shares of the company’s stock, valued at $4,378,158.04. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,416 shares of company stock valued at $33,528,267 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of several recent analyst reports. Wells Fargo & Company began coverage on shares of Cadence Design Systems in a report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 target price for the company. Oppenheimer assumed coverage on Cadence Design Systems in a report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price on the stock. Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They set a “buy” rating and a $350.00 price target on the stock. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 29th. 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 research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $329.50.

Cadence Design Systems Trading Up 2.2 %

CDNS stock opened at $305.60 on Friday. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99. The firm’s 50-day moving average is $304.43 and its 200 day moving average is $285.37. The company has a market capitalization of $83.81 billion, a PE ratio of 80.21, a P/E/G ratio of 3.44 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27.

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