Teamwork Financial Advisors LLC Increases Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Teamwork Financial Advisors LLC grew its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,532 shares of the software maker’s stock after purchasing an additional 401 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Cadence Design Systems were worth $4,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDNS. Missouri Trust & Investment Co bought a new stake in shares of Cadence Design Systems during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Cadence Design Systems in the third quarter worth about $28,000. Versant Capital Management Inc raised its stake in shares of Cadence Design Systems by 164.2% in the fourth 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 period. Prestige Wealth Management Group LLC lifted its position in shares of Cadence Design Systems by 56.6% during the 3rd 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 in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Cadence Design Systems by 30.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock worth $55,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $306.19, for a total value of $199,023.50. Following the transaction, the vice president now directly owns 60,461 shares in the company, valued at approximately $18,512,553.59. This represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the vice president now directly owns 14,318 shares of the company’s stock, valued at approximately $4,378,158.04. This trade represents a 18.13 % decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of Cadence Design Systems stock opened at $321.49 on Thursday. The stock has a 50 day moving average price of $305.09 and a 200-day moving average price of $285.05. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99. The stock has a market cap of $88.17 billion, a price-to-earnings ratio of 84.38, a price-to-earnings-growth ratio of 3.58 and a beta of 1.04. 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 posted its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities analysts expect that Cadence Design Systems, Inc. will post 4.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CDNS shares. Oppenheimer initiated coverage on shares of Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective for the company. Wells Fargo & Company began coverage on Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price objective for the company. Loop Capital assumed coverage on Cadence Design Systems in a report on Monday, November 11th. They issued a “buy” rating and a $360.00 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 report on Tuesday, October 29th. Finally, Redburn Atlantic assumed coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They set a “buy” rating and a $350.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $329.50.

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.