Howe & Rusling Inc. Increases Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Howe & Rusling Inc. boosted its Cadence Design Systems stake by 32.1% in the first quarter, adding 6,025 shares to bring its total to 24,794 shares valued at about $6.89 million.
• Cadence reported strong quarterly results, with EPS of $1.96 beating estimates and revenue of $1.47 billion slightly topping expectations, while revenue rose 18.6% year over year. The company also guided for FY 2026 EPS of 7.850-7.950.
• Wall Street remains constructive on CDNS, with 14 Buy ratings and a consensus “Moderate Buy” and price target of $386.59. However, insiders have recently sold shares, including the CFO and a vice president, totaling 178,557 shares over the last 90 days.

Howe & Rusling Inc. increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 32.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,794 shares of the software maker's stock after purchasing an additional 6,025 shares during the quarter. Howe & Rusling Inc.'s holdings in Cadence Design Systems were worth $6,889,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Praxis Investment Management Inc. lifted its holdings in shares of Cadence Design Systems by 17.1% in the first quarter. Praxis Investment Management Inc. now owns 12,442 shares of the software maker's stock worth $3,457,000 after buying an additional 1,818 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Cadence Design Systems by 1.0% during the first quarter. V Square Quantitative Management LLC now owns 10,544 shares of the software maker's stock valued at $2,930,000 after purchasing an additional 101 shares in the last quarter. Vivid Wealth Management LLC increased its holdings in shares of Cadence Design Systems by 1.2% in the first quarter. Vivid Wealth Management LLC now owns 8,107 shares of the software maker's stock worth $2,253,000 after purchasing an additional 98 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Cadence Design Systems by 9.5% in the first quarter. QRG Capital Management Inc. now owns 67,105 shares of the software maker's stock worth $18,647,000 after purchasing an additional 5,831 shares during the last quarter. Finally, Oxbow Advisors LLC purchased a new stake in shares of Cadence Design Systems in the first quarter worth about $2,862,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $373.14 on Friday. The firm has a market capitalization of $102.92 billion, a price-to-earnings ratio of 86.98, a PEG ratio of 4.42 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. Cadence Design Systems, Inc. has a 1-year low of $262.75 and a 1-year high of $416.69. The company has a 50-day moving average of $369.80 and a 200 day moving average of $324.78.

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, topping the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the business earned $1.57 EPS. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. 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. On average, research analysts expect that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on Cadence Design Systems from $319.00 to $325.00 and gave the stock a "neutral" rating in a report on Tuesday, April 28th. Citigroup boosted their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Stifel Nicolaus upped their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 price objective on shares of Cadence Design Systems in a research note on Friday, April 24th. Finally, Wells Fargo & Company raised their price objective on Cadence Design Systems from $400.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $386.59.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Scannell sold 10,500 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the transaction, the vice president directly owned 33,946 shares in the company, valued at $11,507,694. The trade was a 23.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of the business's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the sale, the chief financial officer directly owned 86,875 shares in the company, valued at approximately $26,883,468.75. This represents a 19.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 178,557 shares of company stock worth $66,925,452. 0.49% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.