Pathstone Holdings LLC Has $15.20 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Pathstone Holdings LLC raised its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,073 shares of the software maker’s stock after buying an additional 2,474 shares during the period. Pathstone Holdings LLC’s holdings in Cadence Design Systems were worth $15,197,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Market Strategies LLC lifted its holdings in Cadence Design Systems by 3.1% in the 2nd 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 last quarter. Dudley Capital Management LLC boosted its holdings in shares of Cadence Design Systems by 4.3% during the 3rd quarter. Dudley Capital Management LLC now owns 948 shares of the software maker’s stock worth $257,000 after buying an additional 39 shares during the period. Trust Point Inc. grew its stake in Cadence Design Systems by 2.9% in the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after buying an additional 40 shares during the last quarter. Falcon Wealth Planning raised its holdings in Cadence Design Systems by 5.1% in 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 period. Finally, Venture Visionary Partners LLC lifted its position in Cadence Design Systems by 2.5% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock worth $463,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Buying and Selling

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the completion of the sale, the director now owns 42,051 shares in the company, valued at approximately $11,928,186.66. The trade was a 3.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $266.89, for a total value of $173,478.50. Following the completion of the sale, the vice president now owns 64,544 shares of the company’s stock, valued at $17,226,148.16. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,634 shares of company stock worth $4,217,635 over the last three months. 0.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Oppenheimer started coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price target on the stock. Robert W. Baird lifted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Mizuho started coverage on shares of Cadence Design Systems in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price target for the company. Finally, Berenberg Bank assumed 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.00.

Cadence Design Systems Trading Up 1.8 %

CDNS opened at $299.63 on Wednesday. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99. The firm has a 50-day moving average price of $276.20 and a two-hundred day moving average price of $283.13. The stock has a market capitalization of $82.18 billion, a PE ratio of 78.64, a PEG ratio of 3.93 and a beta of 1.02. 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 (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. Cadence Design Systems’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 EPS. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Cadence Design Systems 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.