V Square Quantitative Management LLC Purchases 4,355 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) (2024)

Posted by Defense World Staff on Jun 16th, 2024

V Square Quantitative Management LLC lifted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 132.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,646 shares of the software maker’s stock after acquiring an additional 4,355 shares during the period. V Square Quantitative Management LLC’s holdings in Cadence Design Systems were worth $2,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. grew its position in Cadence Design Systems by 90.4% in the 4th quarter. Valley National Advisers Inc. now owns 99 shares of the software maker’s stock worth $26,000 after purchasing an additional 47 shares during the period. Fortitude Family Office LLC bought a new stake in Cadence Design Systems in the 4th quarter worth approximately $28,000. Union Savings Bank bought a new stake in Cadence Design Systems in the 4th quarter worth approximately $33,000. Rakuten Securities Inc. purchased a new position in shares of Cadence Design Systems during the 4th quarter worth $45,000. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Cadence Design Systems by 34.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 202 shares of the software maker’s stock worth $47,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the topic of several analyst reports. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Cadence Design Systems in a research note on Friday, May 17th. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. KeyCorp lifted their price target on shares of Cadence Design Systems from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Piper Sandler lowered their target price on shares of Cadence Design Systems from $334.00 to $318.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $331.11.

View Our Latest Stock Analysis on CDNS

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $295.00, for a total transaction of $191,750.00. Following the transaction, the vice president now owns 66,494 shares in the company, valued at approximately $19,615,730. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $295.00, for a total transaction of $191,750.00. Following the transaction, the vice president now owns 66,494 shares in the company, valued at approximately $19,615,730. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Wall sold 21,700 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $311.40, for a total transaction of $6,757,380.00. Following the transaction, the chief financial officer now directly owns 41,035 shares of the company’s stock, valued at approximately $12,778,299. The disclosure for this sale can be found here. Insiders sold 133,459 shares of company stock valued at $40,344,198 over the last 90 days. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Price Performance

Shares of CDNS opened at $312.10 on Friday. The company has a 50 day moving average price of $291.45 and a 200-day moving average price of $290.39. Cadence Design Systems, Inc. has a fifty-two week low of $217.77 and a fifty-two week high of $327.36. The stock has a market capitalization of $85.02 billion, a PE ratio of 81.28, a PEG ratio of 3.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.19 and a current ratio of 1.32.

Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last posted its earnings results on Monday, April 22nd. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Cadence Design Systems had a net margin of 25.68% and a return on equity of 32.44%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the company posted $1.02 earnings per share. Cadence Design Systems’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts predict that Cadence Design Systems, Inc. will post 4.77 earnings per share for the current fiscal year.