Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock Position Decreased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.0% in the fourth quarter, HoldingsChannel reports. The firm owned 30,071 shares of the software maker’s stock after selling 5,314 shares during the period. Atria Wealth Solutions Inc.’s holdings in Cadence Design Systems were worth $9,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in Cadence Design Systems by 12.4% during the 4th quarter. Avior Wealth Management LLC now owns 326 shares of the software maker’s stock valued at $98,000 after purchasing an additional 36 shares during the period. Dudley Capital Management LLC boosted its stake in Cadence Design Systems by 4.3% during the 3rd quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock valued at $257,000 after purchasing an additional 39 shares during the period. Falcon Wealth Planning boosted its stake in Cadence Design Systems by 5.1% during the 3rd quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock valued at $222,000 after purchasing an additional 40 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in Cadence Design Systems by 0.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker’s stock valued at $1,501,000 after purchasing an additional 40 shares during the period. Finally, Venture Visionary Partners LLC boosted its stake in Cadence Design Systems by 2.5% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock valued at $463,000 after purchasing an additional 41 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CDNS. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company began coverage on shares of Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target for the company. Redburn Atlantic began coverage on shares of 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. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Finally, Loop Capital began coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $326.08.

Cadence Design Systems Stock Up 1.8 %

CDNS stock opened at $300.43 on Wednesday. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99. The firm has a 50 day simple moving average of $303.01 and a 200 day simple moving average of $286.80. 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 firm has a market cap of $82.40 billion, a PE ratio of 78.85, a P/E/G ratio of 3.50 and a beta of 1.03.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. Equities research analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction that occurred on 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 owns 60,461 shares in the company, valued at approximately $18,512,553.59. This represents a 1.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Scannell sold 3,171 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now owns 14,318 shares in the company, valued at approximately $4,378,158.04. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock worth $33,538,875 over the last 90 days. 1.99% of the stock is owned by company insiders.

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.