Nvwm LLC Purchases 167 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Nvwm LLC boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,032 shares of the software maker’s stock after purchasing an additional 167 shares during the quarter. Nvwm LLC’s holdings in Cadence Design Systems were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Missouri Trust & Investment Co acquired a new stake in Cadence Design Systems during the 3rd quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Cadence Design Systems in the 3rd quarter worth $28,000. Versant Capital Management Inc increased its holdings in Cadence Design Systems by 164.2% in the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after purchasing an additional 87 shares during the last quarter. Prestige Wealth Management Group LLC lifted its stake in Cadence Design Systems by 56.6% in the third 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. Finally, Meeder Asset Management Inc. grew its position in shares of Cadence Design Systems by 30.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 202 shares of the software maker’s stock worth $55,000 after buying an additional 47 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $299.67 on Wednesday. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99. The company has a market cap of $82.19 billion, a PE ratio of 78.65, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The business’s 50 day moving average price is $304.81 and its two-hundred day moving average price is $284.68. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

Insider Activity at Cadence Design Systems

In other news, VP Paul Scannell sold 3,171 shares of Cadence Design Systems stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Cunningham sold 650 shares of the business’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 completion of the transaction, the vice president now directly owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,766 shares of company stock worth $33,348,867. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CDNS. Needham & Company LLC reduced their price objective on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Redburn Atlantic started coverage on Cadence Design Systems in a research note on Monday, January 13th. They set a “buy” rating and a $350.00 price objective on the stock. Mizuho increased their price target on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company initiated coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price objective on the stock. Finally, Loop Capital began coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $329.50.

Cadence Design Systems 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.