Baird Financial Group Inc. Has $50.77 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Baird Financial Group Inc. has increased its stake in Cadence Design Systems, Inc. by 44.1%, now holding 199,610 shares valued at approximately $50.77 million.
• Several institutional investors have also adjusted their positions, with 84.85% of the stock now owned by such entities.
• Cadence recently reported a strong earnings quarter, exceeding expectations with $1.65 earnings per share and revenue growth of 20.2% compared to the previous year.

Baird Financial Group Inc. grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 44.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 199,610 shares of the software maker's stock after buying an additional 61,043 shares during the period. Baird Financial Group Inc. owned 0.07% of Cadence Design Systems worth $50,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Cadence Design Systems in the 1st quarter valued at $25,000. Costello Asset Management INC bought a new stake in Cadence Design Systems in the first quarter valued at about $25,000. Valley National Advisers Inc. increased its holdings in Cadence Design Systems by 707.1% in the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock valued at $28,000 after purchasing an additional 99 shares during the last quarter. Ancora Advisors LLC increased its holdings in Cadence Design Systems by 1,400.0% in the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock valued at $36,000 after purchasing an additional 112 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Cadence Design Systems by 36.5% in the first quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock valued at $44,000 after purchasing an additional 46 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $358.72, for a total transaction 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 $37,485,881.28. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total value of $54,720.00. Following the sale, the director 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 3,830 shares of company stock valued at $1,207,671 over the last ninety days. 1.99% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on CDNS shares. Rosenblatt Securities reiterated a "neutral" rating and issued a $300.00 price objective on shares of Cadence Design Systems in a report on Friday, July 25th. Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday. 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 report on Monday, July 28th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a report on Wednesday, July 30th. Finally, KeyCorp upped their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $364.33.

Cadence Design Systems Stock Down 1.1%

CDNS stock opened at $350.43 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The stock has a market capitalization of $95.49 billion, a P/E ratio of 94.71, a P/E/G ratio of 4.60 and a beta of 0.97. The business has a 50-day moving average of $334.39 and a 200-day moving average of $297.41. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm 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. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.

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