Insider Selling: Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $749,576.40 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Rating) VP Aneel Zaman sold 4,076 shares of Cadence Design Systems stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $183.90, for a total transaction of $749,576.40. Following the transaction, the vice president now directly owns 96,261 shares in the company, valued at $17,702,397.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Aneel Zaman also recently made the following trade(s):

  • On Thursday, July 28th, Aneel Zaman sold 6,253 shares of Cadence Design Systems stock. The shares were sold at an average price of $180.00, for a total transaction of $1,125,540.00.
  • On Tuesday, May 31st, Aneel Zaman sold 22,542 shares of Cadence Design Systems stock. The shares were sold at an average price of $153.36, for a total transaction of $3,457,041.12.

Cadence Design Systems Trading Up 0.5 %

NASDAQ:CDNS opened at $186.55 on Friday. The company has a market capitalization of $51.09 billion, a P/E ratio of 66.86, a PEG ratio of 3.10 and a beta of 1.15. The firm has a fifty day simple moving average of $159.35 and a 200-day simple moving average of $153.38. Cadence Design Systems, Inc. has a 12 month low of $132.32 and a 12 month high of $192.70. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13.

Cadence Design Systems (NASDAQ:CDNSGet Rating) last posted its earnings results on Monday, July 25th. The software maker reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. The company had revenue of $858.00 million during the quarter, compared to the consensus estimate of $835.01 million. Cadence Design Systems had a net margin of 23.61% and a return on equity of 32.06%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 3.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Capital Group LLC increased its holdings in Cadence Design Systems by 5.6% in the second quarter. Private Capital Group LLC now owns 1,224 shares of the software maker’s stock valued at $184,000 after buying an additional 65 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Cadence Design Systems by 0.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 20,044 shares of the software maker’s stock valued at $3,007,000 after buying an additional 67 shares in the last quarter. Concord Wealth Partners increased its holdings in Cadence Design Systems by 5.8% in the first quarter. Concord Wealth Partners now owns 1,356 shares of the software maker’s stock valued at $223,000 after buying an additional 74 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Cadence Design Systems by 2.0% in the first quarter. EP Wealth Advisors LLC now owns 3,827 shares of the software maker’s stock valued at $629,000 after buying an additional 75 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Cadence Design Systems by 0.7% in the second quarter. Commonwealth Equity Services LLC now owns 11,587 shares of the software maker’s stock valued at $1,738,000 after buying an additional 76 shares in the last quarter. 84.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Bank of America upgraded shares of Cadence Design Systems from an “underperform” rating to a “neutral” rating and raised their target price for the company from $160.00 to $175.00 in a research note on Wednesday, June 29th. Needham & Company LLC raised their target price on shares of Cadence Design Systems from $193.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 26th. Rosenblatt Securities raised their target price on shares of Cadence Design Systems from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, July 26th. KeyCorp raised their target price on shares of Cadence Design Systems from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, April 26th. Finally, Robert W. Baird lowered their target price on shares of Cadence Design Systems from $211.00 to $203.00 in a research note on Tuesday, April 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $189.30.

About Cadence Design Systems

(Get Rating)

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.

See Also

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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