Cadence Design Systems Inc (NASDAQ:CDNS) VP James J. Cowie sold 44,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $33.09, for a total transaction of $1,455,960.00. Following the completion of the transaction, the vice president now owns 137,332 shares of the company’s stock, valued at approximately $4,544,315.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cadence Design Systems Inc (NASDAQ:CDNS) traded up 0.73% during trading on Wednesday, hitting $34.27. 2,724,352 shares of the stock traded hands. Cadence Design Systems Inc has a 52 week low of $22.99 and a 52 week high of $34.31. The stock has a market cap of $9.58 billion, a P/E ratio of 44.05 and a beta of 1.00. The firm’s 50-day moving average is $32.46 and its 200 day moving average is $29.11.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 24th. The software maker reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. Cadence Design Systems had a return on equity of 23.03% and a net margin of 11.18%. The business had revenue of $477 million during the quarter, compared to analysts’ expectations of $474.23 million. During the same period in the previous year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Cadence Design Systems Inc will post $1.38 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

COPYRIGHT VIOLATION WARNING: “James J. Cowie Sells 44,000 Shares of Cadence Design Systems Inc (CDNS) Stock” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/05/24/james-j-cowie-sells-44000-shares-of-cadence-design-systems-inc-cdns-stock.html.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, April 27th. DA Davidson lowered shares of Cadence Design Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 25th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $33.00 target price on shares of Cadence Design Systems in a research report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Cadence Design Systems has a consensus rating of “Hold” and an average target price of $29.83.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNS. Benjamin F. Edwards & Company Inc. boosted its position in Cadence Design Systems by 0.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,370 shares of the software maker’s stock worth $200,000 after buying an additional 31 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Cadence Design Systems during the fourth quarter worth approximately $164,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Cadence Design Systems during the first quarter worth approximately $205,000. Janney Capital Management LLC purchased a new stake in shares of Cadence Design Systems during the first quarter worth approximately $225,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Cadence Design Systems during the first quarter worth approximately $240,000. 83.26% of the stock is owned by institutional investors and hedge funds.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides solutions that enable its customers to design electronic products. The Company’s product categories include Functional Verification, Digital integrated circuits (IC) Design and Signoff, Custom IC Design and Verification, System Interconnect and Analysis, and intellectual property (IP).

12 Month Chart for NASDAQ:CDNS

Receive News & Ratings for Cadence Design Systems Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Design Systems Inc and related companies with MarketBeat.com's FREE daily email newsletter.