Paragon Advisors LLC Has $1.75 Million Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Paragon Advisors LLC boosted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,465 shares of the software maker’s stock after purchasing an additional 41 shares during the period. Paragon Advisors LLC’s holdings in Cadence Design Systems were worth $1,752,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CDNS. Natixis Advisors LLC increased its holdings in shares of Cadence Design Systems by 6.1% during the third quarter. Natixis Advisors LLC now owns 181,610 shares of the software maker’s stock valued at $49,222,000 after acquiring an additional 10,371 shares in the last quarter. First Long Island Investors LLC bought a new position in shares of Cadence Design Systems in the third quarter valued at approximately $4,162,000. Empowered Funds LLC increased its position in shares of Cadence Design Systems by 13.3% in the third quarter. Empowered Funds LLC now owns 12,974 shares of the software maker’s stock worth $3,516,000 after purchasing an additional 1,526 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Cadence Design Systems by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 9,313 shares of the software maker’s stock worth $2,524,000 after purchasing an additional 199 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in shares of Cadence Design Systems by 0.8% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 8,044 shares of the software maker’s stock valued at $2,180,000 after purchasing an additional 67 shares during the last quarter. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Down 4.4 %

CDNS opened at $289.71 on Friday. The firm’s 50-day simple moving average is $274.49 and its 200-day simple moving average is $282.77. The firm has a market cap of $79.46 billion, a price-to-earnings ratio of 76.04, a PEG ratio of 3.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45. Cadence Design Systems, Inc. has a twelve month low of $241.29 and a twelve month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on CDNS. Mizuho initiated coverage on shares of Cadence Design Systems in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price objective for the company. Needham & Company LLC reduced their price target on 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. Berenberg Bank began coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 price objective on the stock. Loop Capital began coverage on Cadence Design Systems in a research note on Monday, November 11th. They issued a “buy” rating and a $360.00 price objective for the company. Finally, Robert W. Baird lifted their target price on Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average price target of $326.00.

Insiders Place Their Bets

In other news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction dated Friday, November 1st. The shares were 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 in the company, valued at $16,866,636. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the completion of the sale, the chief financial officer now directly owns 38,654 shares of the company’s stock, valued at $10,278,485.14. This represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,634 shares of company stock worth $4,217,635. 1.99% of the stock is currently owned by insiders.

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.