Catalyst Financial Partners LLC Buys 61 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Catalyst Financial Partners LLC lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.0% in the third quarter, Holdings Channel.com reports. The fund owned 1,072 shares of the software maker’s stock after acquiring an additional 61 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Cadence Design Systems were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Capital Market Strategies LLC grew its position in Cadence Design Systems by 3.1% during the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker’s stock valued at $400,000 after buying an additional 39 shares during the period. Inspire Advisors LLC raised its holdings in shares of Cadence Design Systems by 1.8% in the 1st quarter. Inspire Advisors LLC now owns 2,229 shares of the software maker’s stock worth $694,000 after purchasing an additional 40 shares during the period. Trust Point Inc. lifted its stake in Cadence Design Systems by 2.9% in the third quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after purchasing an additional 40 shares during the last quarter. Venture Visionary Partners LLC increased its position in Cadence Design Systems by 2.5% in the third quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock worth $463,000 after buying an additional 41 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its stake in shares of Cadence Design Systems by 1.3% in the third quarter. Stonegate Investment Group LLC now owns 3,274 shares of the software maker’s stock valued at $887,000 after buying an additional 42 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In related news, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were 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 in the company, valued at $10,278,485.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cadence Design Systems news, CFO John M. Wall sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total value of $2,659,100.00. Following the completion of the sale, the chief financial officer now owns 38,654 shares in the company, valued at approximately $10,278,485.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Karna Nisewaner sold 1,213 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $279.49, for a total value of $339,021.37. Following the transaction, the senior vice president now directly owns 17,617 shares in the company, valued at $4,923,775.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,697 shares of company stock worth $7,555,216. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

CDNS stock opened at $276.12 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. The firm has a market cap of $75.61 billion, a P/E ratio of 72.47, a P/E/G ratio of 3.03 and a beta of 1.02. The firm’s fifty day moving average is $267.02 and its 200 day moving average is $281.99. Cadence Design Systems, Inc. has a 52 week low of $233.51 and a 52 week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.20. The company 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 29.54% and a net margin of 25.36%. Cadence Design Systems’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. Research analysts predict that Cadence Design Systems, Inc. will post 4.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CDNS shares. Needham & Company LLC decreased their price objective on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird lifted their target price on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday. Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective for the company in a report on Tuesday, August 6th. Berenberg Bank initiated coverage on Cadence Design Systems in a research report on Tuesday, October 15th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Mizuho started coverage on Cadence Design Systems in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.17.

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.