Sagespring Wealth Partners LLC lifted its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 38.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,936 shares of the software maker's stock after purchasing an additional 1,085 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Cadence Design Systems were worth $1,213,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cadence Design Systems by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock valued at $6,698,834,000 after purchasing an additional 429,955 shares during the period. Jennison Associates LLC boosted its position in shares of Cadence Design Systems by 13.2% in the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock valued at $2,305,489,000 after purchasing an additional 1,054,702 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cadence Design Systems by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker's stock valued at $1,202,733,000 after purchasing an additional 312,757 shares during the period. Invesco Ltd. boosted its position in shares of Cadence Design Systems by 14.0% in the 1st quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock valued at $614,534,000 after purchasing an additional 296,983 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Cadence Design Systems by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker's stock valued at $571,208,000 after purchasing an additional 8,361 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Cadence Design Systems
In related news, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the transaction, the director directly owned 7,830 shares of the company's stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares of the company's stock, valued at $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock valued at $3,729,852 in the last ninety days. Corporate insiders own 1.99% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on CDNS. Mizuho increased their price objective on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cadence Design Systems in a research report on Wednesday, October 8th. KeyCorp increased their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. BNP Paribas Exane began coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They set an "outperform" rating and a $400.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on Cadence Design Systems in a research report on Thursday, July 10th. They set a "buy" rating and a $380.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and an average target price of $368.53.
Check Out Our Latest Analysis on CDNS
Cadence Design Systems Stock Performance
Shares of CDNS stock opened at $324.10 on Thursday. The company has a market cap of $88.31 billion, a price-to-earnings ratio of 87.59, a price-to-earnings-growth ratio of 4.27 and a beta of 0.99. The stock has a 50 day simple moving average of $349.61 and a 200-day simple moving average of $317.93. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49.
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 for the quarter, beating the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $1.28 EPS. Cadence Design Systems's quarterly revenue was up 20.2% on a year-over-year basis. 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, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.
Cadence Design Systems Profile
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Free Report)
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.
Further Reading
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