Park National Corp OH Has $38.03 Million Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Park National Corp OH reduced its stake in Cadence Design Systems, Inc. by 2.5% in the 2nd quarter, holding 123,407 shares valued at approximately $38.03 million.
• Cadence reported $1.65 earnings per share for the most recent quarter, surpassing analysts' expectations and reflecting a 20.2% increase in quarterly revenue year-over-year.
• Several analyst firms have raised their price targets for Cadence, with KeyCorp setting a new target of $405.00 and a consensus rating of "Moderate Buy" based on twelve analysts' assessments.

Park National Corp OH decreased its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,407 shares of the software maker's stock after selling 3,147 shares during the quarter. Cadence Design Systems comprises 1.3% of Park National Corp OH's holdings, making the stock its 23rd largest holding. Park National Corp OH's holdings in Cadence Design Systems were worth $38,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDNS. Legacy Capital Wealth Partners LLC raised its holdings in shares of Cadence Design Systems by 2.8% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker's stock valued at $309,000 after acquiring an additional 33 shares in the last quarter. Empower Advisory Group LLC raised its holdings in shares of Cadence Design Systems by 4.1% during the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker's stock valued at $232,000 after buying an additional 36 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Cadence Design Systems by 0.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker's stock valued at $3,392,000 after buying an additional 36 shares in the last quarter. Principal Street Partners LLC raised its holdings in shares of Cadence Design Systems by 2.6% during the 4th quarter. Principal Street Partners LLC now owns 1,455 shares of the software maker's stock valued at $437,000 after buying an additional 37 shares in the last quarter. Finally, Greenleaf Trust raised its holdings in shares of Cadence Design Systems by 0.7% during the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker's stock valued at $1,476,000 after buying an additional 39 shares in the last quarter. Institutional investors own 84.85% of the company's stock.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $343.48 on Friday. The firm has a market cap of $93.59 billion, a P/E ratio of 92.83, a P/E/G ratio of 4.65 and a beta of 1.00. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The business's 50 day moving average price is $342.75 and its 200-day moving average price is $302.31. 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 issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $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. On average, equities research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ita M. Brennan sold 180 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value of $60,211.80. Following the sale, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. This trade represents a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the sale, the vice president owned 102,499 shares in the company, valued at $35,254,531.05. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,180 shares of company stock worth $1,069,232. Corporate insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CDNS. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on Cadence Design Systems from $330.00 to $390.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. KeyCorp raised their price objective on Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Mizuho raised their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $300.00 price target on shares of Cadence Design Systems in a research report on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $364.33.

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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