James J. Cowie Sells 60,000 Shares of Cadence Design Systems Inc (CDNS) Stock

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Cadence Design Systems Inc (NASDAQ:CDNS) VP James J. Cowie sold 60,000 shares of Cadence Design Systems stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $45.99, for a total value of $2,759,400.00. Following the transaction, the vice president now owns 106,949 shares of the company’s stock, valued at approximately $4,918,584.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ:CDNS opened at $44.38 on Wednesday. Cadence Design Systems Inc has a 12-month low of $35.49 and a 12-month high of $47.40. The company has a market cap of $12.84 billion, a PE ratio of 41.87, a PEG ratio of 3.26 and a beta of 1.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.64 and a quick ratio of 1.58.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 22nd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. Cadence Design Systems had a return on equity of 28.44% and a net margin of 11.25%. The company had revenue of $532.47 million during the quarter, compared to analysts’ expectations of $516.50 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Cadence Design Systems Inc will post 1.16 earnings per share for the current fiscal year.

A number of research firms recently commented on CDNS. Zacks Investment Research upgraded Cadence Design Systems from a “hold” rating to a “strong-buy” rating and set a $54.00 price target for the company in a report on Thursday, October 25th. BidaskClub cut Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $42.00 to $49.00 and gave the stock a “market perform” rating in a report on Tuesday, July 24th. Credit Suisse Group boosted their price objective on Cadence Design Systems from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, July 24th. Finally, Benchmark upgraded Cadence Design Systems from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Tuesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.86.

Large investors have recently modified their holdings of the company. Fort L.P. bought a new stake in shares of Cadence Design Systems during the second quarter worth approximately $119,000. Signaturefd LLC boosted its stake in shares of Cadence Design Systems by 160.0% in the second quarter. Signaturefd LLC now owns 4,573 shares of the software maker’s stock valued at $198,000 after buying an additional 2,814 shares during the period. Intact Investment Management Inc. bought a new stake in shares of Cadence Design Systems in the third quarter valued at approximately $218,000. Conning Inc. bought a new stake in shares of Cadence Design Systems in the second quarter valued at approximately $217,000. Finally, United Capital Financial Advisers LLC bought a new stake in shares of Cadence Design Systems in the first quarter valued at approximately $206,000. Institutional investors own 87.25% of the company’s stock.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides electronic design automation software, emulation and prototyping hardware, system interconnect, and analysis 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 simulation platform; Palladium Z1, a verification computing platform; and Protium S1 field-programmable gate array prototyping platform.

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Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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