Corient Private Wealth LLC Has $93.88 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Corient Private Wealth boosted its Cadence Design Systems stake by 24.9% in the fourth quarter, ending with 299,886 shares valued at about $93.9 million.
• Insiders have been selling stock recently, including CEO Anirudh Devgan and VP Paul Cunningham, with $67.2 million in insider sales over the last quarter.
• Cadence reported better-than-expected quarterly earnings and revenue growth of 18.6% year over year, while analysts remain constructive with a consensus rating of Moderate Buy and an average price target of $386.59.

Corient Private Wealth LLC grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 24.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,886 shares of the software maker's stock after acquiring an additional 59,811 shares during the period. Corient Private Wealth LLC owned 0.11% of Cadence Design Systems worth $93,882,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CDNS. Spirepoint Private Client LLC increased its position in Cadence Design Systems by 4.6% during the 4th quarter. Spirepoint Private Client LLC now owns 722 shares of the software maker's stock worth $226,000 after buying an additional 32 shares during the period. West Family Investments Inc. boosted its holdings in Cadence Design Systems by 2.2% in the 3rd quarter. West Family Investments Inc. now owns 1,559 shares of the software maker's stock valued at $548,000 after purchasing an additional 33 shares during the period. Townsquare Capital LLC grew its position in shares of Cadence Design Systems by 3.6% during the 4th quarter. Townsquare Capital LLC now owns 977 shares of the software maker's stock worth $305,000 after purchasing an additional 34 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of Cadence Design Systems by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,079 shares of the software maker's stock worth $379,000 after purchasing an additional 35 shares in the last quarter. Finally, Global Assets Advisory LLC increased its holdings in shares of Cadence Design Systems by 2.1% during the fourth quarter. Global Assets Advisory LLC now owns 1,726 shares of the software maker's stock worth $540,000 after purchasing an additional 35 shares during the period. Institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,887 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $370.00, for a total value of $19,198,190.00. Following the completion of the transaction, the chief executive officer directly owned 303,525 shares in the company, valued at approximately $112,304,250. This trade represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of Cadence Design Systems stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $391.00, for a total value of $782,000.00. Following the sale, the vice president directly owned 126,586 shares in the company, valued at $49,495,126. The trade was a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 179,557 shares of company stock worth $67,205,642. Company insiders own 0.49% of the company's stock.

Cadence Design Systems Price Performance

CDNS stock opened at $387.39 on Friday. The stock has a market cap of $106.85 billion, a price-to-earnings ratio of 90.30, a P/E/G ratio of 4.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. The company has a 50 day simple moving average of $355.14 and a 200 day simple moving average of $321.63. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $1.57 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. Research analysts anticipate that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Wells Fargo & Company lifted their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Stifel Nicolaus increased their target price on Cadence Design Systems from $395.00 to $432.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Robert W. Baird raised their price target on Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Finally, Piper Sandler boosted their price target on Cadence Design Systems from $319.00 to $325.00 and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $386.59.

About Cadence Design Systems

Cadence Design Systems, Inc NASDAQ: CDNS is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company's offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.

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