Slow Capital Inc. Has $2.59 Million Stock Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Slow Capital Inc. increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,515 shares of the software maker’s stock after purchasing an additional 66 shares during the period. Slow Capital Inc.’s holdings in Cadence Design Systems were worth $2,592,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Cadence Design Systems in the third quarter worth approximately $26,000. Valley National Advisers Inc. boosted its holdings in Cadence Design Systems by 90.4% in the fourth quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after acquiring an additional 47 shares in the last quarter. Fortitude Family Office LLC bought a new position in Cadence Design Systems in the fourth quarter worth approximately $28,000. Atlas Capital Advisors LLC boosted its holdings in Cadence Design Systems by 322.6% in the second quarter. Atlas Capital Advisors LLC now owns 131 shares of the software maker’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted 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 worth $37,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity

In other news, SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $310.46, for a total value of $186,276.00. Following the completion of the sale, the senior vice president now owns 21,080 shares of the company’s stock, valued at approximately $6,544,496.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Thomas P. Beckley sold 65,268 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $296.98, for a total transaction of $19,383,290.64. Following the transaction, the vice president now owns 156,156 shares in the company, valued at approximately $46,375,208.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Karna Nisewaner sold 600 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $310.46, for a total value of $186,276.00. Following the transaction, the senior vice president now owns 21,080 shares in the company, valued at approximately $6,544,496.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,044 shares of company stock valued at $63,106,522. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CDNS. Robert W. Baird increased their price target on Cadence Design Systems from $289.00 to $302.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Piper Sandler began coverage on Cadence Design Systems in a report on Thursday, April 4th. They issued a “neutral” rating and a $334.00 target price on the stock. Stifel Nicolaus raised their target price on Cadence Design Systems from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Morgan Stanley upgraded Cadence Design Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $260.00 to $350.00 in a report on Wednesday, February 14th. Finally, KeyCorp raised their target price on Cadence Design Systems from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.10.

Cadence Design Systems Price Performance

CDNS stock traded down $6.01 during mid-day trading on Wednesday, hitting $294.80. 476,838 shares of the stock were exchanged, compared to its average volume of 1,466,782. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.13. The business has a fifty day moving average price of $306.73 and a 200 day moving average price of $279.25. Cadence Design Systems, Inc. has a 12 month low of $194.01 and a 12 month high of $327.36. The stock has a market capitalization of $80.26 billion, a price-to-earnings ratio of 78.75, a PEG ratio of 3.66 and a beta of 1.04.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, February 12th. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.05. Cadence Design Systems had a return on equity of 35.57% and a net margin of 25.46%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $0.75 EPS. Cadence Design Systems’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 4.82 EPS for the current 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.