NBT Bank N A NY Acquires 720 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• NBT Bank N A NY increased its stake in Cadence Design Systems by 184.6% during the second quarter, acquiring an additional 720 shares, bringing its total holdings to 1,110 shares valued at $342,000.
• Multiple institutional investors also expanded their positions in Cadence Design Systems, with Vanguard Group and Jennison Associates increasing their holdings by 1.7% and 13.2%, respectively, during the first quarter.
• Insider sales included Director Ita M. Brennan and CFO John M. Wall, who sold shares for a total value of approximately $2.68 million, signaling a 9.59% decrease in the CFO's holdings.

NBT Bank N A NY boosted its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 184.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,110 shares of the software maker's stock after purchasing an additional 720 shares during the period. NBT Bank N A NY's holdings in Cadence Design Systems were worth $342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Cadence Design Systems by 1.7% during 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. Jennison Associates LLC increased its holdings in shares of 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 worth $2,305,489,000 after buying an additional 1,054,702 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Cadence Design Systems by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker's stock worth $1,202,733,000 after buying an additional 312,757 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Cadence Design Systems by 14.0% during the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker's stock worth $614,534,000 after buying an additional 296,983 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Cadence Design Systems by 0.4% during the first quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker's stock worth $571,208,000 after buying an additional 8,361 shares in the last quarter. Institutional investors own 84.85% of the company's stock.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director owned 7,830 shares in the company, valued at $2,619,213.30. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the transaction, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,680 shares of company stock worth $3,729,852. Insiders own 1.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDNS. Wall Street Zen lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. The Goldman Sachs Group began coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a "buy" rating and a $380.00 target price for the company. Berenberg Bank set a $400.00 target price on shares of Cadence Design Systems in a report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, BNP Paribas began coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They set an "outperform" rating and a $400.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average price target of $368.53.

Cadence Design Systems Stock Down 0.4%

Shares of CDNS stock opened at $348.67 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82. The firm's 50-day moving average is $352.27 and its 200-day moving average is $316.16. The stock has a market cap of $95.01 billion, a price-to-earnings ratio of 94.24, a PEG ratio of 4.59 and a beta of 0.99. Cadence Design Systems, Inc. has a 52-week low of $221.56 and a 52-week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last issued its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) 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 company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the prior year, the firm earned $1.28 EPS. Cadence Design Systems'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. Sell-side analysts predict 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.

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