Catalyst Financial Partners LLC Increases Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Catalyst Financial Partners LLC boosted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,144 shares of the software maker’s stock after acquiring an additional 72 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Cadence Design Systems were worth $344,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Avestar Capital LLC raised its position in Cadence Design Systems by 26.7% during the fourth quarter. Avestar Capital LLC now owns 2,252 shares of the software maker’s stock valued at $677,000 after acquiring an additional 475 shares in the last quarter. Tranquility Partners LLC raised its position in Cadence Design Systems by 37.3% during the fourth quarter. Tranquility Partners LLC now owns 1,959 shares of the software maker’s stock valued at $589,000 after acquiring an additional 532 shares in the last quarter. HMS Capital Management LLC grew its holdings in Cadence Design Systems by 5.5% in the fourth quarter. HMS Capital Management LLC now owns 4,422 shares of the software maker’s stock valued at $1,329,000 after purchasing an additional 229 shares during the period. Values First Advisors Inc. grew its holdings in Cadence Design Systems by 349.0% in the fourth quarter. Values First Advisors Inc. now owns 2,878 shares of the software maker’s stock valued at $865,000 after purchasing an additional 2,237 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Cadence Design Systems by 11.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 792,366 shares of the software maker’s stock valued at $235,970,000 after purchasing an additional 80,486 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $295.19 on Friday. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. The firm has a market capitalization of $80.96 billion, a P/E ratio of 77.48, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. The stock’s fifty day moving average is $303.55 and its two-hundred day moving average is $285.94.

Analyst Upgrades and Downgrades

Several brokerages have commented on CDNS. Robert W. Baird raised their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Loop Capital began coverage on Cadence Design Systems in a report on Monday, November 11th. They issued a “buy” rating and a $360.00 price objective on the stock. Mizuho raised their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Needham & Company LLC lowered their price target on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $326.08.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 93,151 shares of Cadence Design Systems stock in a transaction on Monday, January 6th. The stock was sold at an average price of $310.00, for a total value of $28,876,810.00. Following the sale, the chief executive officer now owns 55,874 shares in the company, valued at $17,320,940. The trade was a 62.51 % 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, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the sale, the vice president now owns 58,773 shares in the company, valued at $17,180,523.36. This represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,416 shares of company stock worth $33,538,875 over the last quarter. 1.99% of the stock is currently owned by company 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.