Accredited Investors Inc. Grows Stock Position in Cadence Design Systems, Inc. $CDNS

Accredited Investors Inc. increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 33.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,862 shares of the software maker’s stock after purchasing an additional 716 shares during the quarter. Accredited Investors Inc.’s holdings in Cadence Design Systems were worth $882,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Cadence Design Systems by 2.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 320,394 shares of the software maker’s stock valued at $98,729,000 after purchasing an additional 7,698 shares in the last quarter. Wealth Alliance LLC purchased a new stake in shares of Cadence Design Systems during the second quarter worth approximately $200,000. Forsta AP Fonden raised its holdings in Cadence Design Systems by 1.1% in the second quarter. Forsta AP Fonden now owns 56,600 shares of the software maker’s stock valued at $17,441,000 after acquiring an additional 600 shares in the last quarter. KBC Group NV raised its holdings in Cadence Design Systems by 7.7% in the second quarter. KBC Group NV now owns 132,236 shares of the software maker’s stock valued at $40,749,000 after acquiring an additional 9,488 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Cadence Design Systems by 4.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,722 shares of the software maker’s stock worth $53,841,000 after acquiring an additional 7,990 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the sale, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the sale, the chief financial officer owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,230 shares of company stock valued at $5,530,682. Insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CDNS shares. Loop Capital increased their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Oppenheimer boosted their target price on shares of Cadence Design Systems from $200.00 to $225.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 28th. Rosenblatt Securities increased their target price on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Wall Street Zen cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and a consensus target price of $376.00.

Cadence Design Systems Stock Down 3.2%

CDNS opened at $318.51 on Wednesday. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. The stock has a market capitalization of $86.70 billion, a P/E ratio of 82.09, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The business’s 50-day simple moving average is $343.44 and its 200-day simple moving average is $329.42.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

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.