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Cadence Design Systems Inc. (CDNS): Today's Featured Computer Software & Services Loser

Cadence Design Systems (CDNS) pushed the Computer Software & Services industry lower today making it today's featured Computer Software & Services loser. The industry as a whole closed the day up 0.9%. By the end of trading, Cadence Design Systems fell 6 cents (-0.6%) to $10.50 on average volume. Throughout the day, 3.1 million shares of Cadence Design Systems exchanged hands as compared to its average daily volume of 2.7 million shares. The stock ranged in price between $10.45-$10.65 after having opened the day at $10.56 as compared to the previous trading day's close of $10.56. Other company's within the Computer Software & Services industry that declined today were: BOS Better Online Solutions (BOSC), down 20.1%, Kingtone Wirelessinfo Solution (KONE), down 17.6%, DynaVox (DVOX), down 8.6%, and Tangoe (TNGO), down 5.5%.

Cadence Design Systems, Inc. develops, sells or leases, licenses, and maintains electronic design automation software, hardware, verification intellectual property (IP), and design IP for semiconductor and electronic system customers worldwide. Cadence Design Systems has a market cap of $2.86 billion and is part of the technology sector. The company has a P/E ratio of 28.9, below the average computer software & services industry P/E ratio of 29.7 and above the S&P 500 P/E ratio of 17.7. Shares are up 1.6% year to date as of the close of trading on Tuesday. Currently there are seven analysts that rate Cadence Design Systems a buy, no analysts rate it a sell, and one rates it a hold.

TheStreet Ratings rates Cadence Design Systems as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, expanding profit margins, good cash flow from operations and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the positive front, Mitek Systems (MITK), up 11.9%, China Digital TV (STV), up 11.3%, VanceInfo Technologies (VIT), up 9.2%, and Unisys Corporation (UIS), up 9.1%, were all gainers within the computer software & services industry with Microsoft Corporation (MSFT) being today's featured computer software & services industry winner.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the computer software & services industry could consider iShares S&P NA Tech Software Idx (IGV) while those bearish on the computer software & services industry could consider ProShares Ultra Short Technology (REW).

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