Cadence Design Systems, Inc. $CDNS Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 16.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,526 shares of the software maker’s stock after selling 4,281 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cadence Design Systems were worth $6,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Petros Family Wealth LLC increased its stake in Cadence Design Systems by 2.6% during the second quarter. Petros Family Wealth LLC now owns 1,277 shares of the software maker’s stock worth $394,000 after acquiring an additional 32 shares during the last quarter. Hemington Wealth Management increased its stake in Cadence Design Systems by 14.0% during the second quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock worth $80,000 after acquiring an additional 32 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its stake in Cadence Design Systems by 2.8% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock worth $309,000 after acquiring an additional 33 shares during the last quarter. Empower Advisory Group LLC increased its stake in Cadence Design Systems by 4.1% during the first quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock worth $232,000 after acquiring an additional 36 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Cadence Design Systems by 0.3% during the first quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock worth $3,392,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 2.0%

NASDAQ:CDNS opened at $325.75 on Wednesday. The firm has a market cap of $88.76 billion, a PE ratio of 88.04, a price-to-earnings-growth ratio of 4.36 and a beta of 0.99. The stock has a fifty day moving average price of $350.33 and a 200 day moving average price of $317.89. 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 earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business posted $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at $24,690,849.40. The trade was a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director directly owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock valued at $3,729,852 in the last ninety days. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Cadence Design Systems from $330.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. KeyCorp lifted their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, BNP Paribas Exane began coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.53.

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.