In recent days, we looked at two computer software stocks, Palantir Technologies and ServiceNow, in our Daily Commentaries, highlighting them as stocks that have started forming positive moves. Against this sector backdrop, today we take a look at another example in the SIA Computer Software sector.
Cadence Design Systems Inc. (CDNS) recently entered the Favored Zone of the SIA S&P 500 Index report on April 29 at a price of $302.22. As of Friday’s close, the shares have gradually risen to $308.08. Currently, the stock resides in the 100th spot out of 505 positions in the report, up 51 spots in the last week and 280 spots in the past month.