Greenleaf Trust Acquires 54 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Greenleaf Trust increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 14,290 shares of the software maker’s stock after buying an additional 54 shares during the quarter. Greenleaf Trust’s holdings in Cadence Design Systems were worth $3,892,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Cadence Design Systems in the 3rd quarter worth about $26,000. Valley National Advisers Inc. grew its stake in shares of Cadence Design Systems by 90.4% during the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock valued at $26,000 after purchasing an additional 47 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $28,000. Atlas Capital Advisors LLC grew its stake in shares of Cadence Design Systems by 322.6% during the 2nd quarter. Atlas Capital Advisors LLC now owns 131 shares of the software maker’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Finally, Zions Bancorporation N.A. grew its stake in shares of Cadence Design Systems by 108.3% during the 1st quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock valued at $37,000 after purchasing an additional 117 shares during the period. 84.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Robert W. Baird boosted their price target on Cadence Design Systems from $302.00 to $322.00 and gave the company an “outperform” rating in a research note on Thursday. Rosenblatt Securities downgraded Cadence Design Systems from a “buy” rating to a “neutral” rating and boosted their price target for the company from $265.00 to $280.00 in a research note on Tuesday, February 13th. KeyCorp boosted their price objective on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company boosted their price objective on Cadence Design Systems from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley upgraded Cadence Design Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $260.00 to $350.00 in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $318.10.

Cadence Design Systems Stock Down 2.0 %

NASDAQ CDNS opened at $280.25 on Friday. The stock’s 50 day moving average is $305.52 and its 200 day moving average is $279.70. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.09. Cadence Design Systems, Inc. has a 12 month low of $194.01 and a 12 month high of $327.36. The stock has a market cap of $76.30 billion, a PE ratio of 73.36, a P/E/G ratio of 3.47 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm earned $0.75 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Research analysts predict that Cadence Design Systems, Inc. will post 4.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $308.83, for a total transaction of $463,245.00. Following the sale, the director now directly owns 50,183 shares of the company’s stock, valued at approximately $15,498,015.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $308.83, for a total transaction of $463,245.00. Following the sale, the director now directly owns 50,183 shares of the company’s stock, valued at approximately $15,498,015.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James D. Plummer sold 2,412 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $315.40, for a total value of $760,744.80. Following the sale, the director now directly owns 22,923 shares in the company, valued at $7,229,914.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,544 shares of company stock valued at $53,581,207. Corporate insiders own 1.99% of the company’s stock.

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.