Captrust Financial Advisors Has $5.88 Million Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Captrust Financial Advisors decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,704 shares of the software maker’s stock after selling 87 shares during the quarter. Captrust Financial Advisors’ holdings in Cadence Design Systems were worth $5,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNS. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cadence Design Systems in the 2nd quarter valued at $69,000. Park Avenue Securities LLC lifted its stake in Cadence Design Systems by 9.3% in the 2nd quarter. Park Avenue Securities LLC now owns 18,693 shares of the software maker’s stock valued at $5,753,000 after purchasing an additional 1,596 shares during the last quarter. CWM LLC boosted its position in Cadence Design Systems by 5.2% in the second quarter. CWM LLC now owns 7,631 shares of the software maker’s stock valued at $2,348,000 after buying an additional 374 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of Cadence Design Systems by 52.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 12,646 shares of the software maker’s stock worth $3,892,000 after buying an additional 4,356 shares in the last quarter. Finally, NBC Securities Inc. lifted its stake in shares of Cadence Design Systems by 18.9% in the 2nd quarter. NBC Securities Inc. now owns 6,715 shares of the software maker’s stock valued at $2,066,000 after acquiring an additional 1,066 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $275.98, for a total transaction of $413,970.00. Following the transaction, the director now owns 43,551 shares of the company’s stock, valued at $12,019,204.98. The trade was a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $273.44, for a total value of $177,736.00. Following the completion of the sale, the vice president now directly owns 61,761 shares of the company’s stock, valued at $16,887,927.84. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,984 shares of company stock worth $1,385,056 over the last three months. 1.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Berenberg Bank began coverage on Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective on the stock. Oppenheimer initiated coverage on Cadence Design Systems in a research note on Wednesday, September 25th. They set an “underperform” rating and a $225.00 price target on the stock. Robert W. Baird raised their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Wells Fargo & Company started coverage on shares of Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 target price on the stock. Finally, Needham & Company LLC decreased their price target on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.00.

Cadence Design Systems Trading Up 1.1 %

CDNS opened at $310.27 on Tuesday. The company has a market cap of $85.09 billion, a P/E ratio of 81.44, a price-to-earnings-growth ratio of 4.17 and a beta of 1.02. The company has a fifty day moving average price of $282.64 and a two-hundred day moving average price of $284.52. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.20. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Cadence Design Systems’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts predict that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

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.