Park National Corp OH Boosts Position in Cadence Design Systems, Inc. $CDNS

Key Points

• Park National Corp. OH increased its Cadence Design Systems stake by 186.9% in the third quarter, owning 372,703 shares worth approximately $123.1 million. Institutional investors collectively hold 84.85% of CDNS shares.
• Cadence reported quarterly EPS of $2.11, exceeding estimates of $2.05, while revenue reached $1.58 billion, up 24.2% year over year. The company guided to fiscal 2026 EPS of $8.05–$8.15.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $404.12 price target, although one firm downgraded the stock to “hold.” CDNS recently traded at $352.59, while insiders have sold $1.75 million of shares over the past 90 days.

Park National Corp OH lifted its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 186.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 372,703 shares of the software maker's stock after acquiring an additional 242,816 shares during the quarter. Cadence Design Systems makes up approximately 3.3% of Park National Corp OH's holdings, making the stock its 8th biggest position. Park National Corp OH owned about 0.14% of Cadence Design Systems worth $123,063,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. raised its position in shares of Cadence Design Systems by 2.8% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 2,540 shares of the software maker's stock valued at $839,000 after purchasing an additional 68 shares during the period. Eastern Bank purchased a new stake in Cadence Design Systems in the 3rd quarter worth $132,000. MassMutual Private Wealth & Trust FSB raised its holdings in Cadence Design Systems by 65.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 26,160 shares of the software maker's stock valued at $8,638,000 after acquiring an additional 10,376 shares during the period. Burkett Financial Services LLC purchased a new position in shares of Cadence Design Systems in the third quarter valued at about $30,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Cadence Design Systems by 38.7% in the second quarter. QRG Capital Management Inc. now owns 93,049 shares of the software maker's stock worth $34,923,000 after acquiring an additional 25,944 shares during the period. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

CDNS traded up $1.24 during trading hours on Monday, hitting $352.59. The company's stock had a trading volume of 844,617 shares, compared to its average volume of 2,463,389. The stock has a market cap of $97.10 billion, a price-to-earnings ratio of 70.08, a P/E/G ratio of 3.77 and a beta of 1.13. The business's 50-day moving average price is $317.93 and its 200-day moving average price is $335.16. The company has a current ratio of 1.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 12 month low of $262.75 and a 12 month high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business's quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Sell-side analysts expect that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on CDNS shares. Wall Street Zen downgraded Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday. Morgan Stanley reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 29th. FBN Securities started coverage on shares of Cadence Design Systems in a research report on Friday, September 11th. They set an "outperform" rating and a $375.00 price objective on the stock. Piper Sandler upped their target price on shares of Cadence Design Systems from $325.00 to $349.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $404.12.

Insider Buying and Selling

In other Cadence Design Systems news, Director Albert Sangiovanni-Vincentelli sold 1,250 shares of Cadence Design Systems stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $320.88, for a total transaction of $401,100.00. Following the completion of the transaction, the director directly owned 40,794 shares of the company's stock, valued at $13,089,978.72. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $285.51, for a total transaction of $51,391.80. Following the transaction, the director owned 7,824 shares in the company, valued at $2,233,830.24. This trade represents a 2.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,710 shares of company stock worth $1,748,292 in the last 90 days. Company insiders own 0.49% of the company's stock.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company's offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report).

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.