Bryn Mawr Capital Management LLC Acquires New Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Bryn Mawr Capital Management LLC bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,517 shares of the software maker’s stock, valued at approximately $467,000.

A number of other institutional investors have also made changes to their positions in CDNS. Ulland Investment Advisors LLC purchased a new position in Cadence Design Systems in the first quarter worth approximately $25,000. RiverPark Advisors LLC acquired a new position in shares of Cadence Design Systems in the 1st quarter valued at $26,000. ORG Partners LLC grew its position in shares of Cadence Design Systems by 911.1% in the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock valued at $28,000 after buying an additional 82 shares during the last quarter. Annapolis Financial Services LLC acquired a new stake in Cadence Design Systems during the 1st quarter worth $32,000. Finally, Hollencrest Capital Management lifted its position in Cadence Design Systems by 637.5% in the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after acquiring an additional 102 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the transaction, the chief financial officer now directly owns 38,654 shares in the company, valued at $10,278,485.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the transaction, the vice president now directly owns 65,194 shares in the company, valued at approximately $17,357,250.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the sale, the chief financial officer now directly owns 38,654 shares of the company’s stock, valued at approximately $10,278,485.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,397 shares of company stock valued at $20,464,944. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 1.2 %

NASDAQ:CDNS traded up $3.30 during trading hours on Friday, reaching $268.93. 2,021,784 shares of the company were exchanged, compared to its average volume of 1,715,429. The firm has a market cap of $73.26 billion, a price-to-earnings ratio of 70.03, a PEG ratio of 3.14 and a beta of 1.03. The stock has a 50 day simple moving average of $284.47 and a 200 day simple moving average of $294.25. Cadence Design Systems, Inc. has a 52-week low of $227.05 and a 52-week high of $328.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Cadence Design Systems had a return on equity of 29.54% and a net margin of 25.36%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, analysts predict that Cadence Design Systems, Inc. will post 4.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp lifted their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price for the company in a report on Tuesday, August 6th. Bank of America raised their price target on Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $334.56.

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.