Catalyst Financial Partners LLC Purchases 47 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Catalyst Financial Partners LLC lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 956 shares of the software maker’s stock after acquiring an additional 47 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Cadence Design Systems were worth $260,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Cadence Design Systems in the 3rd quarter worth $26,000. Valley National Advisers Inc. grew its position in shares of Cadence Design Systems by 90.4% during the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after buying an additional 47 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at about $28,000. Rakuten Securities Inc. acquired a new stake in shares of Cadence Design Systems in the 4th quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC boosted its stake in Cadence Design Systems by 34.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock worth $47,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of several analyst reports. KeyCorp increased their target price on shares of Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Monday, April 22nd. Morgan Stanley upgraded Cadence Design Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $260.00 to $350.00 in a report on Wednesday, February 14th. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $326.11.

Cadence Design Systems Stock Down 0.5 %

Shares of NASDAQ CDNS traded down $1.47 during midday trading on Wednesday, reaching $282.57. The company’s stock had a trading volume of 1,236,974 shares, compared to its average volume of 1,566,338. Cadence Design Systems, Inc. has a fifty-two week low of $198.92 and a fifty-two week high of $327.36. The stock has a 50 day simple moving average of $301.33 and a 200-day simple moving average of $283.20. The stock has a market capitalization of $76.90 billion, a price-to-earnings ratio of 73.59, a PEG ratio of 3.32 and a beta of 1.06. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.08.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, April 22nd. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business earned $1.02 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts predict that Cadence Design Systems, Inc. will post 4.78 earnings per share for the current year.

Insider Activity

In other Cadence Design Systems news, VP Thomas P. Beckley sold 65,268 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the sale, the vice president now directly owns 156,156 shares of the company’s stock, valued at $46,375,208.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Thomas P. Beckley sold 65,268 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $296.98, for a total value of $19,383,290.64. Following the completion of the sale, the vice president now directly owns 156,156 shares of the company’s stock, valued at $46,375,208.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Aneel Zaman sold 1,207 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $303.90, for a total value of $366,807.30. Following the completion of the sale, the vice president now owns 61,150 shares in the company, valued at approximately $18,583,485. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,066 shares of company stock valued at $52,199,975. 0.62% of the stock is owned by insiders.

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.