Northwest & Ethical Investments L.P. Invests $1.17 Million in Cadence Design Systems, Inc. $CDNS

Key Points

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Northwest & Ethical Investments L.P. bought a new position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,607 shares of the software maker's stock, valued at approximately $1,172,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Cadence Design Systems in the 1st quarter worth approximately $25,000. Costello Asset Management INC purchased a new position in shares of Cadence Design Systems in the 1st quarter worth approximately $25,000. Valley National Advisers Inc. boosted its stake in shares of Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after buying an additional 99 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of Cadence Design Systems by 1,400.0% in the 4th quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after buying an additional 112 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Cadence Design Systems by 36.5% in the 1st quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Stock Performance

CDNS stock traded up $2.06 during midday trading on Friday, reaching $349.63. 1,198,287 shares of the company's stock traded hands, compared to its average volume of 1,901,604. The company has a 50-day moving average price of $329.35 and a two-hundred day moving average price of $295.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The firm has a market capitalization of $95.27 billion, a PE ratio of 94.49, a price-to-earnings-growth ratio of 4.59 and a beta of 0.97.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued 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. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. As a group, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $358.72, for a total transaction of $358,720.00. Following the sale, the vice president owned 104,499 shares of the company's stock, valued at $37,485,881.28. The trade was a 0.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $304.00, for a total transaction of $54,720.00. Following the sale, the director directly owned 8,010 shares in the company, valued at $2,435,040. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock worth $1,207,671 in the last three months. Insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CDNS. The Goldman Sachs Group assumed coverage on Cadence Design Systems in a research note on Thursday, July 10th. They issued a "buy" rating and a $380.00 target price on the stock. Robert W. Baird upped their price objective on Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Wall Street Zen upgraded Cadence Design Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research note on Wednesday, July 30th. Finally, Needham & Company LLC upped their price objective on Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $364.33.

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.