Wedge Capital Management L L P NC Trims Stake in Cadence Design Systems, Inc. $CDNS

Key Points

• Wedge Capital Management L L P NC reduced its stake in Cadence Design Systems by 5.6%, ending the quarter with 206,607 shares valued at approximately $63.67 million.
• Analysts have set bullish price targets for Cadence Design Systems, with 12 out of 15 analysts rating the stock as "Buy" and a consensus target price averaging $364.33.
• Cadence Design Systems reported $1.28 billion in revenue for the last quarter, exceeding expectations, and has projected Q3 2025 EPS guidance between 1.750 and 1.810.

Wedge Capital Management L L P NC lowered its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 5.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 206,607 shares of the software maker's stock after selling 12,164 shares during the quarter. Cadence Design Systems accounts for 1.1% of Wedge Capital Management L L P NC's portfolio, making the stock its 16th biggest position. Wedge Capital Management L L P NC owned 0.08% of Cadence Design Systems worth $63,666,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDNS. GAMMA Investing LLC boosted its position in Cadence Design Systems by 31,049.1% during the 1st quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker's stock valued at $309,835,000 after buying an additional 1,214,330 shares during the period. Nuveen LLC purchased a new stake in Cadence Design Systems during the 1st quarter valued at $289,744,000. Jennison Associates LLC boosted its position in Cadence Design Systems by 13.2% during the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock valued at $2,305,489,000 after buying an additional 1,054,702 shares during the period. Assenagon Asset Management S.A. boosted its position in Cadence Design Systems by 466.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker's stock valued at $242,468,000 after buying an additional 647,931 shares during the period. Finally, Vanguard Group Inc. boosted its position in Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock valued at $6,698,834,000 after buying an additional 429,955 shares during the period. Institutional investors own 84.85% of the company's stock.

Insider Transactions at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total transaction of $343,950.00. Following the sale, the vice president owned 102,499 shares of the company's stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ita M. Brennan sold 180 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director directly owned 7,830 shares in the company, valued at approximately $2,619,213.30. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,180 shares of company stock worth $1,069,232. Insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. JPMorgan Chase & Co. upped their price objective 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. Stifel Nicolaus upped their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a "neutral" rating and issued a $300.00 price objective on shares of Cadence Design Systems in a report on Friday, July 25th. Finally, Wall Street Zen lowered shares of Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Sunday. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $364.33.

Cadence Design Systems Stock Up 0.0%

CDNS stock traded up $0.02 during trading on Monday, hitting $373.37. 1,613,992 shares of the stock traded hands, compared to its average volume of 2,019,306. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The firm's 50 day moving average is $347.39 and its two-hundred day moving average is $307.88. The stock has a market cap of $101.74 billion, a price-to-earnings ratio of 100.91, a price-to-earnings-growth ratio of 4.90 and a beta of 1.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm posted $1.28 EPS. Cadence Design Systems's revenue for the quarter 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. On average, sell-side analysts anticipate 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.