Walter Public Investments Inc. Has $20.07 Million Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Walter Public Investments Inc. boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,798 shares of the software maker’s stock after buying an additional 11,435 shares during the period. Cadence Design Systems makes up approximately 3.6% of Walter Public Investments Inc.’s investment portfolio, making the stock its 11th largest position. Walter Public Investments Inc.’s holdings in Cadence Design Systems were worth $20,070,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CDNS. Swedbank AB grew its stake in Cadence Design Systems by 15.1% during the third quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock worth $475,336,000 after buying an additional 230,672 shares in the last quarter. Allworth Financial LP grew its stake in Cadence Design Systems by 9.7% during the third quarter. Allworth Financial LP now owns 777 shares of the software maker’s stock worth $211,000 after buying an additional 69 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in Cadence Design Systems during the third quarter worth about $202,000. China Universal Asset Management Co. Ltd. grew its stake in Cadence Design Systems by 112.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,473 shares of the software maker’s stock worth $941,000 after buying an additional 1,837 shares in the last quarter. Finally, Strategic Blueprint LLC acquired a new stake in Cadence Design Systems during the third quarter worth about $248,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Stock Up 2.2 %

Shares of NASDAQ CDNS opened at $254.38 on Thursday. The company has a 50 day simple moving average of $297.15 and a 200 day simple moving average of $286.99. The firm has a market cap of $69.73 billion, a PE ratio of 65.90, a price-to-earnings-growth ratio of 3.88 and a beta of 1.03. Cadence Design Systems, Inc. has a 1 year low of $241.29 and a 1 year high of $328.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.93 and a quick ratio of 2.27.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. On average, research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $292.32, for a total transaction of $190,008.00. Following the completion of the transaction, the vice president now owns 58,773 shares in the company, valued at approximately $17,180,523.36. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Scannell sold 3,171 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $305.78, for a total transaction of $969,628.38. Following the transaction, the vice president now owns 14,318 shares of the company’s stock, valued at approximately $4,378,158.04. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,416 shares of company stock worth $33,538,875. 1.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $325.00 price objective on shares of Cadence Design Systems in a research note on Wednesday, February 19th. Mizuho raised their price target on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Piper Sandler raised their price target on shares of Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Redburn Atlantic assumed coverage on shares of Cadence Design Systems in a research note on Monday, January 13th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Loop Capital reduced their price target on shares of Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus target price of $326.92.

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.