Cadence Design Systems, Inc. (NASDAQ:CDNS) Stake Lessened by Ifrah Financial Services Inc.

Ifrah Financial Services Inc. cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 4,778 shares of the software maker’s stock after selling 175 shares during the period. Ifrah Financial Services Inc.’s holdings in Cadence Design Systems were worth $1,436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Missouri Trust & Investment Co bought a new position in shares of Cadence Design Systems in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. bought a new stake in Cadence Design Systems during the third quarter worth approximately $28,000. Golden State Wealth Management LLC bought a new stake in Cadence Design Systems during the fourth quarter worth approximately $28,000. Versant Capital Management Inc boosted its holdings in Cadence Design Systems by 164.2% during the fourth quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock worth $42,000 after buying an additional 87 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in Cadence Design Systems by 56.6% during the third quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker’s stock worth $45,000 after buying an additional 60 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $295.19 on Monday. The company has a 50-day moving average of $303.30 and a 200-day moving average of $286.43. The company has a market capitalization of $80.96 billion, a price-to-earnings ratio of 77.48, a PEG ratio of 3.50 and a beta of 1.03. Cadence Design Systems, Inc. has a 52 week low of $241.29 and a 52 week high of $328.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of research reports. Rosenblatt Securities restated a “neutral” rating and set a $280.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 29th. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Mizuho increased their target price on shares of Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird increased 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 report on Tuesday, October 29th. Finally, Needham & Company LLC cut their target price on shares of 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus price target of $326.08.

Insider Activity at Cadence Design Systems

In other news, VP Paul Scannell sold 3,171 shares of Cadence Design Systems stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $305.78, for a total transaction of $969,628.38. Following the completion of the sale, the vice president now owns 14,318 shares in the company, valued at $4,378,158.04. The trade was a 18.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50. Following the sale, the vice president now owns 60,461 shares of the company’s stock, valued at approximately $18,512,553.59. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,416 shares of company stock valued at $33,538,875 in the last ninety days. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Profile

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.