OMERS ADMINISTRATION Corp Sells 1,624 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Cadence Design Systems by 14.2%, selling 1,624 shares and now holding 9,789 shares valued at approximately $2.49 million.
• Several institutional investors have significantly increased their positions, with GAMMA Investing LLC raising its stake by over 31,000% to own over 1.2 million shares valued at $309.8 million.
• Cadence Design Systems received multiple analyst upgrades, with price targets raised, including JPMorgan Chase & Co. increasing theirs from $330 to $390 and Wells Fargo from $365 to $405.

OMERS ADMINISTRATION Corp lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 14.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,789 shares of the software maker's stock after selling 1,624 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Cadence Design Systems were worth $2,490,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CDNS. Brighton Jones LLC lifted its stake in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock valued at $456,000 after buying an additional 676 shares in the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Cadence Design Systems by 2.7% in the fourth quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock valued at $1,894,000 after purchasing an additional 163 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Cadence Design Systems by 24.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,123 shares of the software maker's stock valued at $638,000 after purchasing an additional 411 shares during the last quarter. Keel Point LLC raised its holdings in shares of Cadence Design Systems by 32.7% in the fourth quarter. Keel Point LLC now owns 1,080 shares of the software maker's stock valued at $324,000 after purchasing an additional 266 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Cadence Design Systems by 52.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 45,906 shares of the software maker's stock valued at $13,793,000 after purchasing an additional 15,769 shares during the last quarter. Institutional investors own 84.85% of the company's stock.

Insider Buying and Selling at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction dated 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 sale, the director owned 8,010 shares of the company's stock, valued at approximately $2,435,040. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated 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 sale, 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. Over the last quarter, insiders sold 3,180 shares of company stock worth $1,021,790. Corporate insiders own 0.37% of the company's stock.

Cadence Design Systems Stock Down 1.1%

CDNS traded down $3.86 during trading on Monday, reaching $350.43. 1,303,717 shares of the stock were exchanged, compared to its average volume of 1,395,147. 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 $95.49 billion, a P/E ratio of 94.71, a price-to-earnings-growth ratio of 4.60 and a beta of 1.00. The stock's 50 day moving average price is $335.53 and its two-hundred day moving average price is $297.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.67 and a current ratio of 2.82.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company's quarterly revenue 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. Equities analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent research reports. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They issued a "buy" rating and a $380.00 price objective on the stock. Needham & Company LLC lifted their price objective on shares of Cadence Design Systems from $325.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Loop Capital lifted their price objective on shares of Cadence Design Systems from $370.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cadence Design Systems presently has a consensus rating of "Moderate Buy" and an average price target of $364.33.

Cadence Design Systems Company 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.