Fidelis Capital Partners LLC Grows Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Fidelis Capital Partners LLC increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,383 shares of the software maker’s stock after buying an additional 270 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Cadence Design Systems were worth $649,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CDNS. Highview Capital Management LLC DE increased its stake in shares of Cadence Design Systems by 0.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,180 shares of the software maker’s stock valued at $1,411,000 after buying an additional 39 shares during the period. BSW Wealth Partners raised its stake in Cadence Design Systems by 2.8% in the fourth quarter. BSW Wealth Partners now owns 1,624 shares of the software maker’s stock worth $442,000 after buying an additional 44 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Cadence Design Systems by 2.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,844 shares of the software maker’s stock valued at $432,000 after acquiring an additional 45 shares during the period. Savant Capital LLC raised its position in shares of Cadence Design Systems by 2.7% in the 3rd quarter. Savant Capital LLC now owns 1,733 shares of the software maker’s stock worth $406,000 after acquiring an additional 45 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Cadence Design Systems by 9.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 545 shares of the software maker’s stock worth $128,000 after purchasing an additional 45 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Trading Down 0.7 %

CDNS traded down $1.95 during mid-day trading on Friday, hitting $283.95. 456,653 shares of the stock were exchanged, compared to its average volume of 1,477,469. The firm’s fifty day moving average is $306.16 and its two-hundred day moving average is $279.39. Cadence Design Systems, Inc. has a 1-year low of $194.01 and a 1-year high of $327.36. The company has a market cap of $77.30 billion, a PE ratio of 74.73, a PEG ratio of 3.57 and a beta of 1.04. 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 (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, February 12th. The software maker reported $1.38 EPS for the quarter, beating the consensus estimate of $1.33 by $0.05. Cadence Design Systems had a net margin of 25.46% and a return on equity of 35.57%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted $0.75 earnings per share. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts forecast that Cadence Design Systems, Inc. will post 4.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $308.83, for a total transaction of $463,245.00. Following the completion of the transaction, the director now directly owns 50,183 shares of the company’s stock, valued at $15,498,015.89. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Thomas P. Beckley sold 65,268 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the sale, the vice president now owns 156,156 shares of the company’s stock, valued at approximately $46,375,208.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’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 in the company, valued at approximately $15,498,015.89. The disclosure for this sale can be found here. Insiders sold a total of 177,544 shares of company stock worth $53,581,207 over the last 90 days. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of analyst reports. 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 report on Tuesday, February 13th. Wells Fargo & Company boosted their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $302.00 to $322.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research report on Friday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $318.10.

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.