Quent Capital LLC Has $740,000 Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Quent Capital LLC boosted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,463 shares of the software maker’s stock after buying an additional 51 shares during the quarter. Quent Capital LLC’s holdings in Cadence Design Systems were worth $740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Van ECK Associates Corp increased its position in Cadence Design Systems by 26.1% during the 3rd quarter. Van ECK Associates Corp now owns 2,767,965 shares of the software maker’s stock worth $689,472,000 after purchasing an additional 572,251 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Cadence Design Systems by 33.0% during the third quarter. Principal Financial Group Inc. now owns 2,021,494 shares of the software maker’s stock worth $547,886,000 after buying an additional 501,833 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Cadence Design Systems during the fourth quarter worth $148,594,000. Meridiem Investment Management Ltd. bought a new position in shares of Cadence Design Systems in the 3rd quarter valued at $129,285,000. Finally, Jennison Associates LLC boosted its holdings in shares of Cadence Design Systems by 5.3% during the 4th quarter. Jennison Associates LLC now owns 8,010,251 shares of the software maker’s stock valued at $2,406,760,000 after acquiring an additional 404,076 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 0.6 %

NASDAQ CDNS opened at $303.87 on Wednesday. The stock has a market capitalization of $83.34 billion, a P/E ratio of 79.76, a P/E/G ratio of 3.50 and a beta of 1.03. The business has a 50 day simple moving average of $304.50 and a 200 day simple moving average of $285.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year high of $328.99.

Insiders Place Their Bets

In other news, VP Paul Scannell sold 3,171 shares of the 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 transaction, the vice president now owns 14,318 shares of the company’s stock, valued at $4,378,158.04. This represents a 18.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the sale, the vice president now owns 58,773 shares of the company’s stock, valued at approximately $17,180,523.36. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,416 shares of company stock worth $33,538,875. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CDNS shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. Needham & Company LLC dropped their price objective 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, October 29th. Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They set a “buy” rating and a $350.00 target price on the stock. Loop Capital initiated coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They set a “buy” rating and a $360.00 price target for the company. Finally, StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price 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.