Cadence Design Systems, Inc. $CDNS Shares Sold by Cape ANN Savings Bank

Cape ANN Savings Bank reduced its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,638 shares of the software maker’s stock after selling 175 shares during the quarter. Cadence Design Systems accounts for 0.9% of Cape ANN Savings Bank’s holdings, making the stock its 28th biggest position. Cape ANN Savings Bank’s holdings in Cadence Design Systems were worth $1,429,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of 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. Merit Financial Group LLC grew its holdings in shares of Cadence Design Systems by 42.6% in the 1st quarter. Merit Financial Group LLC now owns 3,165 shares of the software maker’s stock worth $805,000 after acquiring an additional 946 shares during the last quarter. KRS Capital Management LLC raised its position in shares of Cadence Design Systems by 2.2% during the first quarter. KRS Capital Management LLC now owns 2,363 shares of the software maker’s stock worth $601,000 after purchasing an additional 50 shares during the period. Congress Asset Management Co. lifted its holdings in shares of Cadence Design Systems by 1.8% during the first quarter. Congress Asset Management Co. now owns 33,755 shares of the software maker’s stock valued at $8,585,000 after purchasing an additional 612 shares during the last quarter. Finally, First Affirmative Financial Network lifted its holdings in shares of Cadence Design Systems by 5.6% during the first quarter. First Affirmative Financial Network now owns 1,719 shares of the software maker’s stock valued at $437,000 after purchasing an additional 91 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CDNS. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Saturday, September 27th. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. KeyCorp boosted their price target on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Rosenblatt Securities restated a “neutral” rating and issued a $300.00 price target on shares of Cadence Design Systems in a research 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 research note on Sunday, September 21st. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $368.53.

Cadence Design Systems Stock Performance

Shares of CDNS opened at $347.27 on Friday. The company’s 50 day moving average price is $353.04 and its 200 day moving average price is $313.74. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company has a market capitalization of $94.63 billion, a PE ratio of 93.86, a PEG ratio of 4.55 and a beta of 0.99. 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) last released its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The company’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. Research analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity at Cadence Design Systems

In related news, CFO John M. Wall sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the transaction, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the transaction, the vice president directly owned 99,672 shares in the company, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,680 shares of company stock valued at $3,729,852. Insiders own 1.99% of the company’s stock.

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.