Cadence Design Systems, Inc. $CDNS Shares Acquired by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in Cadence Design Systems by 288.5% in Q1, acquiring 42,925 additional shares, bringing its total to 57,803 shares valued at approximately $14.7 million.
• Cadence Design Systems reported a 20.2% year-over-year revenue growth and an EPS of $1.65 for the last quarter, surpassing expectations.
• Analyst ratings for Cadence Design Systems are favorable, with a consensus of 12 buy ratings and a target price increase by several firms, peaking at $390.00.

Federation des caisses Desjardins du Quebec boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 288.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 57,803 shares of the software maker's stock after purchasing an additional 42,925 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Cadence Design Systems were worth $14,701,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CDNS. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at about $25,000. Costello Asset Management INC purchased a new stake in shares of Cadence Design Systems in the first quarter valued at about $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems in the first quarter valued at about $27,000. Valley National Advisers Inc. boosted its holdings in shares of 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 acquiring an additional 99 shares in the last quarter. Finally, Ancora Advisors LLC boosted its holdings in shares of 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 acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company's stock.

Cadence Design Systems Trading Up 2.5%

Shares of NASDAQ:CDNS traded up $8.61 during trading on Monday, reaching $359.62. The stock had a trading volume of 453,102 shares, compared to its average volume of 1,981,540. The business has a fifty day moving average price of $339.27 and a 200-day moving average price of $299.55. 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 $97.99 billion, a P/E ratio of 97.15, a PEG ratio of 4.60 and a beta of 1.00. 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, beating analysts' consensus estimates of $1.56 by $0.09. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. As a group, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the sale, the vice president owned 102,499 shares of the company's stock, valued at approximately $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,180 shares of company stock valued at $1,365,740. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on CDNS shares. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $300.00 target price on shares of Cadence Design Systems in a report on Friday, July 25th. Needham & Company LLC lifted their target price on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Piper Sandler reiterated a "neutral" rating and issued a $355.00 price objective (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Wells Fargo & Company raised their price objective on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Twelve equities research 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.