Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 4,245 Shares of Cadence Design Systems, Inc. $CDNS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 66,965 shares of the software maker’s stock after buying an additional 4,245 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cadence Design Systems were worth $20,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in Cadence Design Systems in the first quarter valued at approximately $289,744,000. Assenagon Asset Management S.A. lifted its holdings in shares of Cadence Design Systems by 466.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after purchasing an additional 647,931 shares in the last quarter. Vanguard Group Inc. grew its position in Cadence Design Systems by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after purchasing an additional 429,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock valued at $1,202,733,000 after purchasing an additional 312,757 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Cadence Design Systems by 686.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 350,814 shares of the software maker’s stock valued at $108,103,000 after purchasing an additional 306,198 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director directly owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,230 shares of company stock valued at $5,530,682 over the last quarter. Corporate insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $314.93 on Friday. The stock has a 50 day moving average of $341.41 and a 200 day moving average of $329.62. The company has a market capitalization of $85.72 billion, a price-to-earnings ratio of 81.17, a PEG ratio of 4.55 and a beta of 1.00. 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 3.05, a quick ratio of 2.67 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. The business had revenue of $1.34 billion for 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 firm earned $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. As a group, sell-side analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CDNS shares. Rosenblatt Securities raised their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Piper Sandler restated a “neutral” rating and issued a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday, July 29th. Stifel Nicolaus lifted their price target on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. BNP Paribas initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 price objective for the company. Finally, Wolfe Research reissued an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and a consensus price target of $376.00.

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.