Sandhill Capital Partners LLC Has $48.18 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Sandhill Capital Partners LLC reduced its stake in Cadence Design Systems by 1.6%, now holding approximately 189,429 shares valued at $48.18 million.
• Cadence Design Systems reported earnings of $1.65 per share for the last quarter, exceeding analyst expectations, with revenue up 20.2% year-over-year, totaling $1.28 billion.
• Analysts have raised their price targets for Cadence Design Systems, with Stifel Nicolaus setting a new target of $395.00 and several others indicating strong buy ratings.

Sandhill Capital Partners LLC decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,429 shares of the software maker's stock after selling 3,097 shares during the quarter. Cadence Design Systems comprises approximately 4.0% of Sandhill Capital Partners LLC's portfolio, making the stock its 8th biggest position. Sandhill Capital Partners LLC owned 0.07% of Cadence Design Systems worth $48,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CDNS. Brighton Jones LLC lifted its stake in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock worth $456,000 after acquiring an additional 676 shares during the period. Highview Capital Management LLC DE lifted its stake in Cadence Design Systems by 2.7% in the fourth quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock worth $1,894,000 after acquiring an additional 163 shares during the period. Dimensional Fund Advisors LP lifted its stake in Cadence Design Systems by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 583,275 shares of the software maker's stock worth $175,269,000 after acquiring an additional 4,174 shares during the period. MML Investors Services LLC lifted its stake in Cadence Design Systems by 3.7% in the fourth quarter. MML Investors Services LLC now owns 76,748 shares of the software maker's stock worth $23,060,000 after acquiring an additional 2,770 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in Cadence Design Systems by 7.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 10,304 shares of the software maker's stock worth $3,096,000 after acquiring an additional 733 shares during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insider Activity

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $358.72, for a total value of $358,720.00. Following the completion of the sale, the vice president directly owned 104,499 shares in the company, valued at approximately $37,485,881.28. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ita M. Brennan sold 180 shares of Cadence Design Systems 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 completion of the sale, the director owned 8,010 shares of the company's stock, valued at $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,830 shares of company stock valued at $1,207,671. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on CDNS. Mizuho raised their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Loop Capital raised their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Robert W. Baird raised their price objective on Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Stifel Nicolaus raised their price objective on Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Cadence Design Systems has a consensus rating of "Moderate Buy" and an average target price of $364.33.

Cadence Design Systems Stock Down 1.2%

Shares of CDNS traded down $4.26 during trading hours on Monday, hitting $345.37. The company had a trading volume of 330,165 shares, compared to its average volume of 2,026,290. The firm has a fifty day moving average price of $329.35 and a 200-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. The stock has a market capitalization of $94.11 billion, a price-to-earnings ratio of 93.54, a P/E/G ratio of 4.59 and a beta of 0.97. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings results 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 analyst estimates 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 quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. 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 research analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Cadence Design Systems Company 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.