PGGM Investments Acquires Shares of 171,972 Cadence Design Systems, Inc. $CDNS

PGGM Investments acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 171,972 shares of the software maker’s stock, valued at approximately $52,993,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after acquiring an additional 429,955 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Cadence Design Systems by 13.2% in the first quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock worth $2,305,489,000 after purchasing an additional 1,054,702 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cadence Design Systems by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after purchasing an additional 312,757 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Cadence Design Systems by 14.0% in the first quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after purchasing an additional 296,983 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Cadence Design Systems by 0.4% in the first quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker’s stock worth $571,208,000 after purchasing an additional 8,361 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CDNS shares. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a report on Wednesday, July 30th. Robert W. Baird upped their price target 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. Needham & Company LLC upped their price target on shares of Cadence Design Systems from $325.00 to $390.00 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 target on shares of Cadence Design Systems in a report on Friday, July 25th. Finally, KeyCorp upped their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $364.33.

Insider Activity

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the 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 completion of the sale, the director directly owned 7,830 shares of the company’s stock, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the 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 directly owned 102,499 shares of the company’s stock, valued at approximately $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,180 shares of company stock valued at $762,882. Insiders own 0.37% of the company’s stock.

Cadence Design Systems Stock Up 0.8%

NASDAQ:CDNS opened at $351.26 on Wednesday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a 50-day moving average of $351.77 and a 200 day moving average of $312.18. The firm has a market cap of $95.71 billion, a PE ratio of 94.94, a price-to-earnings-growth ratio of 4.57 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) last released 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. 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 during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. 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, research 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.