Compagnie Lombard Odier SCmA Increases Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Compagnie Lombard Odier SCmA increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 482.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,701 shares of the software maker’s stock after purchasing an additional 1,409 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Cadence Design Systems were worth $511,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Missouri Trust & Investment Co purchased a new stake in shares of Cadence Design Systems in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Cadence Design Systems during the 3rd quarter valued at $28,000. Golden State Wealth Management LLC purchased a new stake in Cadence Design Systems during the 4th quarter valued at $28,000. Versant Capital Management Inc boosted its position 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 valued at $42,000 after buying an additional 87 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its position in 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 during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 650 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $306.19, for a total transaction of $199,023.50. Following the sale, the vice president now directly owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. This represents a 1.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anirudh Devgan sold 5,920 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the sale, the chief executive officer now directly owns 55,874 shares in the company, valued at $16,987,930.96. This trade represents a 9.58 % 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 worth $33,538,875 in the last three months. 1.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CDNS. Robert W. Baird increased their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Loop Capital began coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 price target for the company. Needham & Company LLC dropped their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Mizuho upped their price objective on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $326.08.

Cadence Design Systems Stock Down 0.3 %

Shares of Cadence Design Systems stock opened at $295.19 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The company has a 50-day moving average of $303.55 and a 200 day moving average of $285.94. The firm has a market cap of $80.96 billion, a price-to-earnings ratio of 77.48, a PEG ratio of 3.50 and a beta of 1.03. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99.

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.