Bank of Nova Scotia Has $25.52 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Bank of Nova Scotia decreased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 62.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,843 shares of the software maker’s stock after selling 154,005 shares during the quarter. Bank of Nova Scotia’s holdings in Cadence Design Systems were worth $25,521,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after purchasing an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Cadence Design Systems by 3.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. bought a new position in Cadence Design Systems during the second quarter worth about $205,000. NewEdge Advisors LLC increased its position in Cadence Design Systems by 39.3% during the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after buying an additional 9,807 shares during the last quarter. Finally, Glenview Trust co bought a new stake in Cadence Design Systems in the second quarter valued at approximately $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CDNS. Citigroup raised their price objective on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company increased their price target on Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Robert W. Baird raised their price target on Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research report on Thursday, July 2nd. Finally, KeyCorp upped their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity at Cadence Design Systems

In other news, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total value of $576,204.74. Following the completion of the sale, the director directly owned 23,264 shares in the company, valued at approximately $8,871,493.76. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the sale, the chief executive officer directly owned 303,525 shares in the company, valued at $112,304,250. This represents a 14.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 157,057 shares of company stock valued at $60,272,277. 0.49% of the stock is currently owned by company insiders.

Cadence Design Systems Stock Down 1.3%

CDNS stock opened at $326.24 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The stock has a market capitalization of $89.98 billion, a price-to-earnings ratio of 76.05, a PEG ratio of 3.86 and a beta of 1.15. The business’s fifty day moving average price is $373.92 and its two-hundred day moving average price is $329.27. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $1.57 earnings per share. Cadence Design Systems’s revenue was up 18.6% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Cadence Design Systems Company 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.