Credit Agricole S A Decreases Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Credit Agricole S A has reduced its holdings in Cadence Design Systems, Inc. by 25.5% during the first quarter, now owning approximately $14.32 million worth of shares after selling 19,296 shares.
• Several institutional investors are actively adjusting their positions in Cadence, with significant increases in holdings reported by Valley National Advisers (707.1% growth) and Ancora Advisors (1,400% growth).
• Cadence Design Systems recently reported better-than-expected quarterly earnings, with an EPS of $1.65 overshadowing the consensus estimate of $1.56, and a year-over-year revenue increase of 20.2%.

Credit Agricole S A cut its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 25.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,301 shares of the software maker's stock after selling 19,296 shares during the period. Credit Agricole S A's holdings in Cadence Design Systems were worth $14,319,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDNS. GAMMA Investing LLC lifted its holdings in Cadence Design Systems by 31,049.1% during the first quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker's stock valued at $309,835,000 after purchasing an additional 1,214,330 shares in the last quarter. Nuveen LLC purchased a new position in Cadence Design Systems during the first quarter valued at $289,744,000. Jennison Associates LLC lifted its holdings in Cadence Design Systems by 13.2% during the first 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Cadence Design Systems by 25.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,937,675 shares of the software maker's stock valued at $882,655,000 after purchasing an additional 601,834 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Cadence Design Systems by 1.7% in the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after buying an additional 429,955 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 0.0%

Shares of CDNS traded down $0.15 during trading on Tuesday, reaching $345.04. 314,688 shares of the company traded hands, compared to its average volume of 2,019,945. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The stock has a market cap of $94.02 billion, a PE ratio of 93.29, a price-to-earnings-growth ratio of 4.59 and a beta of 0.97. The stock has a 50-day simple moving average of $330.24 and a 200-day simple moving average of $296.04. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its quarterly earnings results 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. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same period last year, the business earned $1.28 earnings per share. The business's revenue for the quarter 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, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the firm'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 value of $54,720.00. Following the completion of the transaction, the director owned 8,010 shares of the company's stock, valued at approximately $2,435,040. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were 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 approximately $37,485,881.28. The trade was a 0.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,830 shares of company stock valued at $1,207,671. Insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Needham & Company LLC raised their price target on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a research note on Wednesday, July 30th. KeyCorp raised their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock 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 given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Cadence Design Systems presently has an average rating of "Moderate Buy" and a consensus price target 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.