Cadence Design Systems, Inc. $CDNS Shares Bought by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. increased its stake in Cadence Design Systems by 43.3%, acquiring an additional 262,900 shares during the first quarter, bringing its total holdings to approximately $204.99 million.
• Wall Street analysts have optimistic forecasts for Cadence Design Systems, with multiple firms, including JPMorgan Chase and Stifel Nicolaus, raising price targets and maintaining 'buy' ratings, indicating strong investor confidence.
• Cadence Design Systems reported a strong quarterly earnings result, beating analysts' estimates with $1.65 EPS and a revenue increase of 20.2% compared to the previous year.

APG Asset Management N.V. grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 43.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 870,649 shares of the software maker's stock after acquiring an additional 262,900 shares during the quarter. APG Asset Management N.V. owned about 0.32% of Cadence Design Systems worth $204,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Groupe la Francaise increased its stake in Cadence Design Systems by 7.3% during the 1st quarter. Groupe la Francaise now owns 36,075 shares of the software maker's stock valued at $9,514,000 after purchasing an additional 2,457 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Cadence Design Systems by 60.1% during the first quarter. AlphaQuest LLC now owns 1,678 shares of the software maker's stock valued at $427,000 after buying an additional 630 shares during the last quarter. Circle Wealth Management LLC increased its position in shares of Cadence Design Systems by 152.1% in the 1st quarter. Circle Wealth Management LLC now owns 1,712 shares of the software maker's stock valued at $435,000 after acquiring an additional 1,033 shares during the period. D.B. Root & Company LLC raised its stake in Cadence Design Systems by 27.8% in the 1st quarter. D.B. Root & Company LLC now owns 1,814 shares of the software maker's stock worth $461,000 after acquiring an additional 395 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Cadence Design Systems by 5.8% during the 1st quarter. 1832 Asset Management L.P. now owns 281,106 shares of the software maker's stock worth $71,494,000 after acquiring an additional 15,443 shares during the period. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Cadence Design Systems Trading Down 0.3%

Shares of CDNS traded down $1.16 during midday trading on Tuesday, reaching $344.03. The company had a trading volume of 1,718,578 shares, compared to its average volume of 1,818,608. The firm has a 50 day simple moving average of $331.14 and a 200-day simple moving average of $296.38. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The stock has a market cap of $93.74 billion, a PE ratio of 67.03, a price-to-earnings-growth ratio of 4.53 and a beta of 0.97. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. Cadence Design Systems's revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business earned $1.28 earnings per share. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CDNS shares. Bank of America increased their price objective on Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a research note on Thursday, July 10th. They set a "buy" rating and a $380.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus upped their price target on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.