WD Rutherford LLC Purchases 2,978 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

WD Rutherford LLC increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 65.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,503 shares of the software maker’s stock after purchasing an additional 2,978 shares during the period. WD Rutherford LLC’s holdings in Cadence Design Systems were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. RiverPark Advisors LLC acquired a new stake in Cadence Design Systems in the 1st quarter worth approximately $26,000. ORG Partners LLC boosted its stake in Cadence Design Systems by 911.1% in the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Hollencrest Capital Management boosted its stake in Cadence Design Systems by 637.5% in the 1st quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock worth $37,000 after purchasing an additional 102 shares in the last quarter. Chilton Capital Management LLC boosted its stake in Cadence Design Systems by 244.0% in the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock worth $53,000 after purchasing an additional 122 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Cadence Design Systems by 159.7% in the 2nd quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock worth $62,000 after purchasing an additional 123 shares in the last quarter. 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 $284.45 on Wednesday. The firm has a market cap of $77.49 billion, a PE ratio of 74.08, a PEG ratio of 3.03 and a beta of 1.02. The firm has a fifty day moving average of $266.90 and a 200 day moving average of $281.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. Cadence Design Systems, Inc. has a one year low of $230.65 and a one year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.20. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, research analysts predict that Cadence Design Systems, Inc. will post 4.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday. Oppenheimer assumed coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target for the company. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday. Mizuho assumed coverage on shares of Cadence Design Systems in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $325.00 price target for the company. Finally, Needham & Company LLC cut their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.17.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the sale, the vice president now owns 65,194 shares of the company’s stock, valued at $17,357,250.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $276.24, for a total transaction of $414,360.00. Following the transaction, the director now owns 45,051 shares of the company’s stock, valued at approximately $12,444,888.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the transaction, the vice president now directly owns 65,194 shares in the company, valued at approximately $17,357,250.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,347 shares of company stock valued at $7,728,272 in the last 90 days. 1.99% of the stock is owned by insiders.

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.