Cadence Design Systems, Inc. $CDNS Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 32.6% in the second quarter, Holdings Channel.com reports. The fund owned 174,072 shares of the software maker’s stock after acquiring an additional 42,812 shares during the period. Bridges Investment Management Inc.’s holdings in Cadence Design Systems were worth $53,640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CDNS. Smallwood Wealth Investment Management LLC acquired a new stake in Cadence Design Systems in the 1st quarter valued at about $25,000. Costello Asset Management INC acquired a new stake in Cadence Design Systems in the 1st quarter valued at about $25,000. Saudi Central Bank acquired a new stake in Cadence Design Systems in the 1st quarter valued at about $27,000. Valley National Advisers Inc. lifted its holdings 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 acquiring an additional 99 shares during the last quarter. Finally, Barrett & Company Inc. purchased a new stake in Cadence Design Systems during the second quarter valued at about $31,000. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction dated 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 $24,690,849.40. This represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Cunningham sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the transaction, the vice president owned 99,672 shares in the company, valued at $34,712,767.44. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,680 shares of company stock worth $3,729,852 in the last 90 days. Company insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

CDNS has been the subject of a number of analyst reports. Stifel Nicolaus upped 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 note on Tuesday, July 29th. Wells Fargo & Company upped their price objective on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Cadence Design Systems in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating, three have given 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 $368.53.

Cadence Design Systems Price Performance

Shares of CDNS opened at $324.10 on Thursday. The company has a market capitalization of $88.31 billion, a price-to-earnings ratio of 87.59, a P/E/G ratio of 4.27 and a beta of 0.99. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The business’s 50-day moving average is $349.61 and its 200-day moving average is $317.93.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior 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. Equities research analysts expect 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.