6,500 Shares in Cadence Design Systems, Inc. $CDNS Purchased by Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,500 shares of the software maker’s stock, valued at approximately $2,003,000.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in Cadence Design Systems by 80.2% during the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after purchasing an additional 676 shares during the period. Zions Bancorporation National Association UT bought a new stake in Cadence Design Systems in the first quarter valued at $108,000. Townsquare Capital LLC boosted its holdings in shares of Cadence Design Systems by 15.8% during the first quarter. Townsquare Capital LLC now owns 5,867 shares of the software maker’s stock valued at $1,492,000 after acquiring an additional 799 shares during the period. Benjamin Edwards Inc. grew its position in shares of Cadence Design Systems by 9.3% during the first quarter. Benjamin Edwards Inc. now owns 23,523 shares of the software maker’s stock worth $5,983,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter worth about $289,744,000. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Anirudh Devgan sold 5,550 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $327.80, for a total transaction of $1,819,290.00. Following the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $64,197,663.20. The trade was a 2.76% decrease in their ownership of the stock. 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 stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,230 shares of company stock valued at $5,499,372. Insiders own 0.37% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $337.29 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The firm’s 50 day moving average is $328.23 and its 200-day moving average is $330.00. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The stock has a market capitalization of $91.81 billion, a P/E ratio of 86.93, a P/E/G ratio of 4.34 and a beta of 1.05.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup began coverage on shares of Cadence Design Systems in a research note on Monday, November 24th. They set a “buy” rating and a $385.00 target price for the company. Rosenblatt Securities lifted their price target on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. BNP Paribas Exane initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Tuesday, November 25th. Finally, Wolfe Research reiterated an “outperform” rating and set a $385.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Company Profile

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.