1900 Wealth Management LLC Has $377,000 Stock Holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS)

1900 Wealth Management LLC lifted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,256 shares of the software maker’s stock after buying an additional 83 shares during the period. 1900 Wealth Management LLC’s holdings in Cadence Design Systems were worth $377,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. Czech National Bank lifted its stake in shares of Cadence Design Systems by 7.6% in the 3rd quarter. Czech National Bank now owns 55,780 shares of the software maker’s stock valued at $15,118,000 after acquiring an additional 3,923 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in Cadence Design Systems by 23.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 3,232 shares of the software maker’s stock valued at $876,000 after purchasing an additional 609 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of Cadence Design Systems by 19.3% during the third quarter. Brookstone Capital Management now owns 10,674 shares of the software maker’s stock valued at $2,893,000 after purchasing an additional 1,729 shares in the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of Cadence Design Systems by 9.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 2,132 shares of the software maker’s stock valued at $578,000 after buying an additional 176 shares during the period. Finally, Wedmont Private Capital raised its holdings in Cadence Design Systems by 2.1% in the 3rd quarter. Wedmont Private Capital now owns 8,418 shares of the software maker’s stock valued at $2,213,000 after buying an additional 175 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Up 0.1 %

Cadence Design Systems stock opened at $302.91 on Friday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $83.08 billion, a PE ratio of 79.50, a PEG ratio of 3.42 and a beta of 1.03. The firm’s fifty day moving average is $304.77 and its 200 day moving average is $284.80. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99.

Insider Activity

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $306.19, for a total transaction of $199,023.50. Following the completion of the sale, the vice president now owns 60,461 shares in the company, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the completion of the transaction, the chief executive officer now directly owns 55,874 shares in the company, valued at $16,987,930.96. This trade represents a 9.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,416 shares of company stock worth $33,538,875. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CDNS shares. Redburn Atlantic began coverage on shares of Cadence Design Systems in a report on Monday, January 13th. They set a “buy” rating and a $350.00 target price on the stock. Berenberg Bank initiated coverage on Cadence Design Systems in a report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price objective for the company. StockNews.com lowered Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird upped their price target on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company began coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $329.50.

Cadence Design Systems Company 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.