Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by Toroso Investments LLC

Toroso Investments LLC lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Get Rating) by 84.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,941 shares of the software maker’s stock after purchasing an additional 7,277 shares during the period. Toroso Investments LLC’s holdings in Cadence Design Systems were worth $2,605,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new position in Cadence Design Systems in the second quarter valued at approximately $29,000. American National Bank acquired a new position in Cadence Design Systems in the third quarter valued at approximately $33,000. Zions Bancorporation N.A. lifted its holdings in Cadence Design Systems by 108.3% in the first quarter. Zions Bancorporation N.A. now owns 225 shares of the software maker’s stock valued at $37,000 after acquiring an additional 117 shares during the last quarter. Private Trust Co. NA acquired a new position in Cadence Design Systems in the second quarter valued at approximately $35,000. Finally, GHP Investment Advisors Inc. lifted its holdings in Cadence Design Systems by 252.9% in the second quarter. GHP Investment Advisors Inc. now owns 247 shares of the software maker’s stock valued at $37,000 after acquiring an additional 177 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Stock Up 2.4 %

Cadence Design Systems stock opened at $207.82 on Friday. Cadence Design Systems, Inc. has a twelve month low of $132.32 and a twelve month high of $209.28. The stock’s fifty day simple moving average is $186.91 and its 200-day simple moving average is $170.67. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $56.72 billion, a P/E ratio of 67.26, a P/E/G ratio of 2.58 and a beta of 1.07.

Cadence Design Systems (NASDAQ:CDNS – Get Rating) last posted its earnings results on Monday, February 13th. The software maker reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $899.88 million for the quarter, compared to analyst estimates of $884.23 million. Cadence Design Systems had a return on equity of 33.89% and a net margin of 23.83%. Cadence Design Systems’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 3.98 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In related news, CFO John M. Wall sold 3,943 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $199.88, for a total value of $788,126.84. Following the transaction, the chief financial officer now owns 122,206 shares of the company’s stock, valued at $24,426,535.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cadence Design Systems news, CFO John M. Wall sold 3,943 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $199.88, for a total value of $788,126.84. Following the completion of the transaction, the chief financial officer now owns 122,206 shares in the company, valued at $24,426,535.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 250 shares of the company’s stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $157.56, for a total transaction of $39,390.00. Following the completion of the transaction, the vice president now owns 93,189 shares of the company’s stock, valued at approximately $14,682,858.84. The disclosure for this sale can be found here. Insiders have sold 244,376 shares of company stock valued at $45,293,036 over the last quarter. 1.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CDNS. Needham & Company LLC boosted their target price on Cadence Design Systems from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Atlantic Securities raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $200.00 target price on the stock in a research report on Tuesday, January 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Cadence Design Systems from $200.00 to $222.00 and gave the company a “buy” rating in a research report on Wednesday, February 15th. Robert W. Baird boosted their target price on Cadence Design Systems from $206.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, February 14th. Finally, Wells Fargo & Company boosted their target price on Cadence Design Systems from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, February 14th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.55.

Cadence Design Systems Profile

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Cadence Design Systems, Inc engages in the design and development of integrated circuits and electronic devices. Its products include electronic design automation, software, emulation hardware, and intellectual property, commonly referred to as verification IP, and design IP. It operates through the following geographical segments: United States, Other Americas, China, Other Asia, Europe, Middle East and Africa and Japan.