Bank of Nova Scotia Acquires 35,861 Shares of Cadence Design Systems, Inc. $CDNS

Bank of Nova Scotia boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 24.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,948 shares of the software maker’s stock after purchasing an additional 35,861 shares during the period. Bank of Nova Scotia owned about 0.07% of Cadence Design Systems worth $63,909,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at approximately $26,000. Caitlin John LLC acquired a new stake in Cadence Design Systems in the 3rd quarter valued at $29,000. Imprint Wealth LLC acquired a new stake in Cadence Design Systems in the 3rd quarter valued at $31,000. Robbins Farley bought a new stake in Cadence Design Systems in the third quarter valued at $35,000. Finally, Cloud Capital Management LLC bought a new stake in Cadence Design Systems in the third quarter valued at $35,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDNS. Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a report on Monday, December 1st. Morgan Stanley lowered their target price on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Citigroup initiated coverage on shares of Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price target for the company. Stifel Nicolaus set a $395.00 price target on shares of Cadence Design Systems in a research report on Wednesday, February 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $360.00 price objective on shares of Cadence Design Systems in a research note on Thursday, February 26th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.50.

Insider Buying and Selling

In related news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the completion of the transaction, the vice president owned 94,137 shares in the company, valued at $28,032,115.86. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John M. Wall sold 27,805 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total value of $8,857,838.85. Following the transaction, the chief financial officer directly owned 69,957 shares in the company, valued at approximately $22,286,201.49. This represents a 28.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,810 shares of company stock worth $9,767,972 over the last quarter. 0.37% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $287.03 on Monday. The business has a fifty day moving average of $301.94 and a 200-day moving average of $321.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The firm has a market cap of $78.26 billion, a PE ratio of 70.70, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Tuesday, February 17th. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. On average, equities research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.