Janney Montgomery Scott LLC Sells 26,391 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Janney Montgomery Scott LLC has reduced its holdings in Cadence Design Systems by 31.6%, now holding 57,042 shares valued at approximately $17.58 million after selling 26,391 shares in Q2.
• Cadence Design Systems' CFO, John M. Wall, sold 7,500 shares valued at about $2.62 million, reducing his ownership by 9.59%.
• Brokerages have increased their price target on Cadence Design Systems, with KeyCorp raising it to $405, reflecting strong optimism for the stock.

Janney Montgomery Scott LLC lessened its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 31.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,042 shares of the software maker's stock after selling 26,391 shares during the period. Janney Montgomery Scott LLC's holdings in Cadence Design Systems were worth $17,578,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC bought a new position in Cadence Design Systems in the 1st quarter worth about $25,000. Costello Asset Management INC bought a new position in Cadence Design Systems in the 1st quarter worth about $25,000. Saudi Central Bank bought a new position in Cadence Design Systems in the 1st quarter worth about $27,000. Valley National Advisers Inc. boosted its stake in Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker's stock worth $28,000 after purchasing an additional 99 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Cadence Design Systems by 36.5% in the 1st quarter. Meeder Asset Management Inc. now owns 172 shares of the software maker's stock worth $44,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In other Cadence Design Systems news, CFO John M. Wall sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares of the company's stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock worth $3,729,852 in the last three months. 1.99% of the stock is owned by company insiders.

Cadence Design Systems Trading Down 1.3%

Cadence Design Systems stock opened at $347.24 on Friday. The firm has a 50 day moving average of $352.74 and a 200 day moving average of $313.09. The firm has a market capitalization of $94.62 billion, a price-to-earnings ratio of 93.85, a P/E/G ratio of 4.62 and a beta of 0.99. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The company has a current ratio of 2.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.49.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. As a group, research analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDNS. KeyCorp upped 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. Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a research note on Wednesday, July 30th. BNP Paribas assumed coverage on shares of Cadence Design Systems in a research note on Thursday. They set an "outperform" rating and a $400.00 target price on the stock. BNP Paribas Exane assumed coverage on shares of Cadence Design Systems in a research note on Thursday. They set an "outperform" rating and a $400.00 target price on the stock. Finally, Wall Street Zen cut shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $368.53.

About Cadence Design Systems

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.

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