Fidelis Capital Partners LLC Boosts Stake in Cadence Design Systems, Inc. $CDNS

Fidelis Capital Partners LLC increased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.3% during the second quarter, HoldingsChannel reports. The firm owned 2,856 shares of the software maker’s stock after buying an additional 243 shares during the period. Fidelis Capital Partners LLC’s holdings in Cadence Design Systems were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. ProShare Advisors LLC lifted its stake in Cadence Design Systems by 4.5% during the 2nd quarter. ProShare Advisors LLC now owns 431,071 shares of the software maker’s stock valued at $132,835,000 after acquiring an additional 18,500 shares during the period. Profund Advisors LLC raised its holdings in shares of Cadence Design Systems by 11.0% during the second quarter. Profund Advisors LLC now owns 24,927 shares of the software maker’s stock valued at $7,681,000 after purchasing an additional 2,479 shares during the last quarter. Bornite Capital Management LP purchased a new position in shares of Cadence Design Systems during the second quarter valued at approximately $24,652,000. Zions Bancorporation National Association UT lifted its position in Cadence Design Systems by 12.9% during the second quarter. Zions Bancorporation National Association UT now owns 480 shares of the software maker’s stock valued at $148,000 after purchasing an additional 55 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Cadence Design Systems by 11.0% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 989 shares of the software maker’s stock worth $305,000 after purchasing an additional 98 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $328.94 on Tuesday. The company has a market capitalization of $89.54 billion, a P/E ratio of 84.78, a P/E/G ratio of 4.55 and a beta of 1.00. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The firm’s 50 day simple moving average is $343.92 and its two-hundred day simple moving average is $329.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $1.64 EPS. The company’s revenue was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. Research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred on 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 sale, the chief financial officer owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $340.26, for a total value of $340,260.00. Following the completion of the transaction, the vice president directly owned 98,067 shares in the company, valued at approximately $33,368,277.42. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,230 shares of company stock valued at $5,530,682 in the last ninety days. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Mizuho upped their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Finally, Robert W. Baird increased their price objective on shares of Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cadence Design Systems presently has an average rating of “Moderate Buy” and an average target price of $376.00.

Cadence Design Systems 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.