Perpetual Ltd Has $818,000 Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Perpetual Ltd reduced its position in Cadence Design Systems by 27.2% during the second quarter, leaving it with 2,653 shares valued at $818,000.
• Several institutional investors, including IFM Investors Pty Ltd and Marshall Financial Group LLC, have increased their holdings in Cadence Design Systems, highlighting strong institutional interest in the company.
• Analysts have set multiple target prices for Cadence Design Systems, with ratings varying from "buy" to "hold", and an average target price of $364.33 following a strong earnings report.

Perpetual Ltd lessened its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 27.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,653 shares of the software maker's stock after selling 991 shares during the quarter. Perpetual Ltd's holdings in Cadence Design Systems were worth $818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC purchased a new stake in Cadence Design Systems in the 1st quarter valued at $25,000. Costello Asset Management INC acquired a new position in Cadence Design Systems in the 1st quarter valued at $25,000. Saudi Central Bank acquired a new position in Cadence Design Systems in the 1st quarter valued at $27,000. Valley National Advisers Inc. increased 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 valued at $28,000 after buying an additional 99 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of Cadence Design Systems by 36.5% during 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 during the period. Hedge funds and other institutional investors own 84.85% of the company's stock.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction 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 $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,180 shares of company stock worth $1,069,232 over the last quarter. Company insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Mizuho increased their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. KeyCorp increased their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Stifel Nicolaus increased their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $300.00 price objective on shares of Cadence Design Systems in a research report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $364.33.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS traded down $7.49 during trading hours on Tuesday, hitting $365.88. 639,445 shares of the company's stock traded hands, compared to its average volume of 2,011,467. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. 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 company's fifty day simple moving average is $347.39 and its two-hundred day simple moving average is $307.88. The company has a market cap of $99.70 billion, a price-to-earnings ratio of 98.95, a price-to-earnings-growth ratio of 4.90 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating 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 business's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last 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, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal 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.