Glass Wealth Management Co LLC Has $234,000 Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Glass Wealth Management Co LLC raised its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 865 shares of the software maker’s stock after buying an additional 70 shares during the quarter. Glass Wealth Management Co LLC’s holdings in Cadence Design Systems were worth $234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Market Strategies LLC grew its holdings in Cadence Design Systems by 3.1% during the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock worth $400,000 after purchasing an additional 39 shares during the period. Dudley Capital Management LLC lifted its position in shares of Cadence Design Systems by 4.3% in the third quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock valued at $257,000 after buying an additional 39 shares during the last quarter. Trust Point Inc. boosted its stake in shares of Cadence Design Systems by 2.9% during the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock worth $379,000 after acquiring an additional 40 shares during the period. Falcon Wealth Planning increased its holdings in shares of Cadence Design Systems by 5.1% during the 3rd quarter. Falcon Wealth Planning now owns 819 shares of the software maker’s stock worth $222,000 after acquiring an additional 40 shares during the last quarter. Finally, Venture Visionary Partners LLC raised its stake in Cadence Design Systems by 2.5% in the 3rd quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock valued at $463,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Loop Capital initiated coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 price objective for the company. Robert W. Baird upped their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Mizuho assumed coverage on shares of Cadence Design Systems in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $325.00 price objective for the company. Berenberg Bank started coverage on Cadence Design Systems in a report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective for the company. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $326.00.

Cadence Design Systems Trading Down 4.4 %

Shares of NASDAQ:CDNS opened at $289.71 on Monday. The business’s 50 day simple moving average is $274.49 and its 200 day simple moving average is $282.88. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The company has a market capitalization of $79.46 billion, a P/E ratio of 76.04, a P/E/G ratio of 3.93 and a beta of 1.02.

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

Insider Buying and Selling at Cadence Design Systems

In related news, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 38,654 shares in the company, valued at $10,278,485.14. This represents a 20.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value of $425,490.00. Following the completion of the sale, the director now directly owns 42,051 shares in the company, valued at $11,928,186.66. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,634 shares of company stock valued at $4,217,635 in the last ninety days. 1.99% of the stock is currently owned by company insiders.

About Cadence Design Systems

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.