Jones Financial Companies Lllp Increases Position in Cadence Design Systems, Inc. $CDNS

Jones Financial Companies Lllp grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 28.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,044 shares of the software maker’s stock after purchasing an additional 1,779 shares during the period. Jones Financial Companies Lllp’s holdings in Cadence Design Systems were worth $2,816,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CDNS. Arjuna Capital raised its holdings in shares of Cadence Design Systems by 404.8% in the 3rd quarter. Arjuna Capital now owns 4,639 shares of the software maker’s stock valued at $1,629,000 after buying an additional 3,720 shares during the period. AXS Investments LLC grew its position in Cadence Design Systems by 4.2% in the 3rd quarter. AXS Investments LLC now owns 3,816 shares of the software maker’s stock valued at $1,340,000 after acquiring an additional 154 shares in the last quarter. Mediolanum International Funds Ltd increased its stake in Cadence Design Systems by 4.2% during the third quarter. Mediolanum International Funds Ltd now owns 26,963 shares of the software maker’s stock worth $9,397,000 after purchasing an additional 1,088 shares during the period. Principal Financial Group Inc. lifted its position in shares of Cadence Design Systems by 5.1% during the third quarter. Principal Financial Group Inc. now owns 2,301,781 shares of the software maker’s stock worth $808,530,000 after purchasing an additional 110,794 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Cadence Design Systems by 143.4% during the third quarter. Hazlett Burt & Watson Inc. now owns 925 shares of the software maker’s stock worth $326,000 after purchasing an additional 545 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In related news, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the completion of the sale, the chief financial officer owned 69,957 shares in the company, valued at $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anirudh Devgan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This trade represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 56,475 shares of company stock worth $18,505,486. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDNS. Wolfe Research restated an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Rosenblatt Securities upped their price objective on Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their target price on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $390.00 target price on shares of Cadence Design Systems in a research note on Monday, December 22nd. Finally, Robert W. Baird increased their price target on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and a consensus price target of $379.59.

Cadence Design Systems Stock Up 4.9%

Cadence Design Systems stock opened at $283.44 on Monday. The stock has a market cap of $77.15 billion, a PE ratio of 73.05, a P/E/G ratio of 3.15 and a beta of 1.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The stock’s fifty day moving average is $314.89 and its two-hundred day moving average is $331.63. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.