Teamwork Financial Advisors LLC Acquires 401 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Teamwork Financial Advisors LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,532 shares of the software maker’s stock after buying an additional 401 shares during the period. Teamwork Financial Advisors LLC’s holdings in Cadence Design Systems were worth $4,066,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. D.B. Root & Company LLC bought a new position in shares of Cadence Design Systems in the 4th quarter worth $426,000. Wesbanco Bank Inc. grew its stake in Cadence Design Systems by 18.7% in the fourth quarter. Wesbanco Bank Inc. now owns 2,346 shares of the software maker’s stock valued at $705,000 after purchasing an additional 369 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Cadence Design Systems by 7.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 88,908 shares of the software maker’s stock worth $26,713,000 after purchasing an additional 6,364 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Cadence Design Systems by 59.6% during the fourth quarter. SG Americas Securities LLC now owns 101,659 shares of the software maker’s stock valued at $30,544,000 after buying an additional 37,943 shares during the last quarter. Finally, Advisory Alpha LLC bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at about $254,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $276.00, for a total value of $179,400.00. Following the completion of the transaction, the vice president now owns 61,111 shares of the company’s stock, valued at approximately $16,866,636. This represents a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anirudh Devgan sold 93,151 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 55,874 shares in the company, valued at $17,320,940. This represents a 62.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,416 shares of company stock worth $33,528,267. Corporate insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of a number of analyst reports. Needham & Company LLC decreased their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Oppenheimer started coverage on 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. Wells Fargo & Company initiated coverage on Cadence Design Systems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target for the company. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Finally, Robert W. Baird increased their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $329.50.

Cadence Design Systems Trading Up 3.4 %

NASDAQ CDNS opened at $321.49 on Thursday. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The company has a market capitalization of $88.17 billion, a PE ratio of 84.38, a P/E/G ratio of 3.58 and a beta of 1.04. The company has a fifty day moving average of $305.09 and a 200 day moving average of $285.05.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. Research analysts forecast that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

About Cadence Design Systems

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.