Gotham Asset Management LLC Has $32.55 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Gotham Asset Management LLC increased its holdings in Cadence Design Systems by 17.3% in Q1, now owning 127,975 shares valued at approximately $32.5 million.
• Several hedge funds, including Federation des caisses Desjardins du Quebec and Edmond DE Rothschild Holding S.A., also raised their positions, indicating strong institutional interest in the company.
• Cadence Design Systems reported earnings of $1.65 per share, surpassing expectations, with a revenue of $1.28 billion and a notable year-over-year revenue growth of 20.2%.

Gotham Asset Management LLC raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 17.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 127,975 shares of the software maker's stock after purchasing an additional 18,851 shares during the period. Cadence Design Systems accounts for approximately 0.3% of Gotham Asset Management LLC's portfolio, making the stock its 19th biggest holding. Gotham Asset Management LLC's holdings in Cadence Design Systems were worth $32,548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDNS. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Cadence Design Systems during the 1st quarter worth about $25,000. Costello Asset Management INC purchased a new stake in Cadence Design Systems in the first quarter valued at approximately $25,000. Saudi Central Bank purchased a new stake in shares of Cadence Design Systems during the first quarter worth approximately $27,000. Valley National Advisers Inc. raised its stake in shares of Cadence Design Systems by 707.1% during the first quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after purchasing an additional 99 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in Cadence Design Systems by 1,400.0% in the fourth quarter. Ancora Advisors LLC now owns 120 shares of the software maker's stock worth $36,000 after acquiring an additional 112 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CDNS. JPMorgan Chase & Co. upped their target price on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Loop Capital increased their price objective on Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Rosenblatt Securities reiterated a "neutral" rating and set a $300.00 target price on shares of Cadence Design Systems in a research report on Friday, July 25th. Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, August 31st. Finally, Robert W. Baird raised their target price on Cadence Design Systems from $340.00 to $380.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $364.33.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $343.95, for a total transaction of $343,950.00. Following the completion of the sale, the vice president directly owned 102,499 shares in the company, valued at approximately $35,254,531.05. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 4,000 shares of company stock worth $1,311,020. Company insiders own 0.37% of the company's stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded down $28.35 during mid-day trading on Wednesday, hitting $333.42. 3,358,692 shares of the company's stock traded hands, compared to its average volume of 1,992,624. The firm has a 50 day moving average price of $341.37 and a 200 day moving average price of $300.69. 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 company has a market cap of $90.85 billion, a PE ratio of 90.20, a price-to-earnings-growth ratio of 4.73 and a beta of 1.00. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year 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 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company's quarterly revenue was up 20.2% compared to the same quarter last year. 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

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.