Global Retirement Partners LLC Has $5.02 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Global Retirement Partners LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,524 shares of the software maker’s stock after acquiring an additional 771 shares during the period. Global Retirement Partners LLC’s holdings in Cadence Design Systems were worth $5,021,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Market Strategies LLC lifted its holdings in shares of Cadence Design Systems by 3.1% during the 2nd quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock valued at $400,000 after purchasing an additional 39 shares in the last quarter. Inspire Advisors LLC boosted its holdings in shares of Cadence Design Systems by 1.8% in the first quarter. Inspire Advisors LLC now owns 2,229 shares of the software maker’s stock valued at $694,000 after buying an additional 40 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of Cadence Design Systems by 4.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock worth $296,000 after acquiring an additional 41 shares during the period. Consilio Wealth Advisors LLC increased its holdings in Cadence Design Systems by 5.2% during the 3rd quarter. Consilio Wealth Advisors LLC now owns 883 shares of the software maker’s stock worth $239,000 after purchasing an additional 44 shares in the last quarter. Finally, First Affirmative Financial Network boosted its position in shares of Cadence Design Systems by 3.6% during the first quarter. First Affirmative Financial Network now owns 1,325 shares of the software maker’s stock worth $412,000 after buying an additional 46 shares during the period. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Up 1.4 %

Shares of Cadence Design Systems stock traded up $3.62 during midday trading on Thursday, reaching $266.57. The company had a trading volume of 841,335 shares, compared to its average volume of 1,702,597. The firm has a market cap of $72.62 billion, a PE ratio of 69.50, a P/E/G ratio of 3.37 and a beta of 1.02. The stock has a fifty day moving average price of $269.94 and a 200 day moving average price of $285.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a fifty-two week low of $228.66 and a fifty-two week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 22nd. The software maker reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Cadence Design Systems had a net margin of 25.36% and a return on equity of 29.54%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 23rd. Oppenheimer started coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 price objective for the company. Robert W. Baird reduced their price target on Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Berenberg Bank assumed coverage on Cadence Design Systems in a research report on Tuesday. They issued a “buy” rating and a $320.00 price objective for the company. Finally, Piper Sandler raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 target price on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.27.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $266.24, for a total transaction of $173,056.00. Following the completion of the sale, the vice president now owns 65,194 shares in the company, valued at approximately $17,357,250.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $266.24, for a total value of $173,056.00. Following the completion of the sale, the vice president now directly owns 65,194 shares of the company’s stock, valued at $17,357,250.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $276.24, for a total value of $414,360.00. Following the transaction, the director now directly owns 45,051 shares in the company, valued at approximately $12,444,888.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,847 shares of company stock worth $7,302,782 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

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.