Cullen Frost Bankers Inc. Sells 874 Shares of Cadence Design Systems, Inc. $CDNS

Cullen Frost Bankers Inc. trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 64.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 480 shares of the software maker’s stock after selling 874 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Cadence Design Systems were worth $148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $25,000. Costello Asset Management INC purchased a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $27,000. Valley National Advisers Inc. increased its position in shares of Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock valued at $28,000 after acquiring an additional 99 shares during the last quarter. Finally, Barrett & Company Inc. purchased a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $31,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the transaction, the vice president directly owned 99,672 shares of the company’s stock, valued at $34,712,767.44. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,680 shares of company stock valued at $3,729,852 in the last three months. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Up 2.3%

CDNS opened at $345.10 on Friday. The company has a 50 day moving average of $346.99 and a 200 day moving average of $322.70. The company has a market cap of $94.04 billion, a PE ratio of 93.27, a price-to-earnings-growth ratio of 4.52 and a beta of 0.99. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm earned $1.28 EPS. Cadence Design Systems’s revenue for the quarter was up 20.2% on a year-over-year basis. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several research analyst reports. KeyCorp raised their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Loop Capital raised their price target on shares of Cadence Design Systems from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Wall Street Zen lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Needham & Company LLC raised their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $320.00 price target on shares of Cadence Design Systems in a research note on Wednesday. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $369.71.

About Cadence Design Systems

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.