John M. Wall Sells 750 Shares of Cadence Design Systems Inc (CDNS) Stock

Cadence Design Systems Inc (NASDAQ:CDNS) CFO John M. Wall sold 750 shares of Cadence Design Systems stock in a transaction on Monday, April 9th. The shares were sold at an average price of $36.16, for a total value of $27,120.00. Following the transaction, the chief financial officer now owns 124,458 shares in the company, valued at $4,500,401.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Cadence Design Systems stock opened at $37.38 on Friday. The firm has a market cap of $10,811.11, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 3.73 and a beta of 1.14. Cadence Design Systems Inc has a 52 week low of $31.22 and a 52 week high of $46.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.53 and a quick ratio of 1.47.

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Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. Cadence Design Systems had a net margin of 10.50% and a return on equity of 31.28%. The business had revenue of $501.70 million during the quarter, compared to analysts’ expectations of $496.20 million. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. sell-side analysts forecast that Cadence Design Systems Inc will post 0.85 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB boosted its stake in Cadence Design Systems by 14.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 29,732 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 3,720 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Cadence Design Systems by 33.2% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 116,999 shares of the software maker’s stock worth $4,893,000 after purchasing an additional 29,181 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Cadence Design Systems in the 4th quarter worth $5,855,000. MetLife Investment Advisors LLC acquired a new position in Cadence Design Systems in the 4th quarter worth $3,654,000. Finally, Gotham Asset Management LLC boosted its stake in Cadence Design Systems by 227.3% in the 4th quarter. Gotham Asset Management LLC now owns 268,716 shares of the software maker’s stock worth $11,238,000 after purchasing an additional 186,603 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on CDNS shares. Zacks Investment Research upgraded Cadence Design Systems from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. BidaskClub lowered Cadence Design Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Credit Suisse Group reaffirmed a “neutral” rating and set a $43.00 price objective (up from $37.00) on shares of Cadence Design Systems in a report on Thursday, February 1st. DA Davidson raised Cadence Design Systems from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. Finally, ValuEngine raised Cadence Design Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.20.

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Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

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