National Bank of Canada FI Has $85.53 Million Stake in Cadence Design Systems, Inc. $CDNS

National Bank of Canada FI boosted its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,570 shares of the software maker’s stock after acquiring an additional 4,014 shares during the quarter. National Bank of Canada FI owned 0.10% of Cadence Design Systems worth $85,532,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CDNS. Saudi Central Bank bought a new stake in shares of Cadence Design Systems in the first quarter valued at about $27,000. Barrett & Company Inc. acquired a new stake in Cadence Design Systems in the 2nd quarter valued at approximately $31,000. Strategic Wealth Investment Group LLC acquired a new stake in Cadence Design Systems in the 2nd quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Cadence Design Systems by 41.1% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock valued at $39,000 after acquiring an additional 37 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Cadence Design Systems during the 2nd quarter worth approximately $40,000. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Price Performance

NASDAQ:CDNS opened at $323.22 on Monday. The company has a market cap of $87.98 billion, a P/E ratio of 83.30, a P/E/G ratio of 4.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The firm’s fifty day moving average price is $326.91 and its two-hundred day moving average price is $330.63.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data 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 company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company 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 analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the completion of the sale, the director directly owned 7,650 shares in the company, valued at approximately $2,581,722. The trade was a 2.30% 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. Also, CEO Anirudh Devgan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the completion of the sale, the chief executive officer owned 195,844 shares of the company’s stock, valued at approximately $66,586,960. This trade represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 41,720 shares of company stock valued at $14,163,377. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CDNS shares. Rosenblatt Securities lifted their price objective on shares of 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 began coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Wells Fargo & Company raised their price objective on Cadence Design Systems from $405.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 target price on the stock in a research report on Monday, December 1st. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.