Shares of Cadence Design Systems Inc. /zigman2/quotes/207095682/composite CDNS +0.52% rallied 3.02% to $147.72 Wednesday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index /zigman2/quotes/210599714/realtime SPX -0.16% rising 1.46% to 3,789.99 and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.23% rising 1.00% to 30,668.53. This was the stock's second consecutive day of gains. Cadence Design Systems Inc. closed $44.98 short of its 52-week high ($192.70), which the company achieved on December 28th.
The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Autodesk Inc. /zigman2/quotes/209828392/composite ADSK -0.11% rose 2.98% to $176.71, Synopsys Inc. /zigman2/quotes/208349984/composite SNPS +0.54% rose 2.74% to $303.24, and Ansys Inc. /zigman2/quotes/207638775/composite ANSS -2.44% rose 3.91% to $238.75. Trading volume (1.6 M) eclipsed its 50-day average volume of 1.6 M.