Meritage Portfolio Management Sells 2,027 Shares of Cadence Design Systems, Inc. $CDNS

Meritage Portfolio Management decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 5.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 37,186 shares of the software maker’s stock after selling 2,027 shares during the quarter. Meritage Portfolio Management’s holdings in Cadence Design Systems were worth $11,459,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. CWM LLC raised its position in Cadence Design Systems by 69.0% in the 2nd quarter. CWM LLC now owns 12,247 shares of the software maker’s stock valued at $3,774,000 after purchasing an additional 5,002 shares during the last quarter. OFI Invest Asset Management raised its position in Cadence Design Systems by 71.2% in the 2nd quarter. OFI Invest Asset Management now owns 404 shares of the software maker’s stock valued at $124,000 after purchasing an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Cadence Design Systems by 23.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,285 shares of the software maker’s stock valued at $13,648,000 after purchasing an additional 8,510 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Cadence Design Systems by 26.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,408 shares of the software maker’s stock valued at $434,000 after buying an additional 291 shares during the period. Finally, Hemington Wealth Management increased its stake in shares of Cadence Design Systems by 14.0% in the 2nd quarter. Hemington Wealth Management now owns 261 shares of the software maker’s stock valued at $80,000 after buying an additional 32 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the business’s stock in a transaction dated 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 directly owned 99,672 shares of the company’s stock, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Wall sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,680 shares of company stock valued at $3,729,852. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Down 6.2%

Shares of Cadence Design Systems stock opened at $327.00 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The business has a fifty day simple moving average of $351.68 and a 200 day simple moving average of $316.92. The stock has a market cap of $89.10 billion, a PE ratio of 88.38, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The firm’s quarterly revenue 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. Research analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Analyst Upgrades and Downgrades

CDNS has been the subject of several research reports. Piper Sandler reissued a “neutral” rating and issued a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Needham & Company LLC lifted their target price on Cadence Design Systems from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Stifel Nicolaus lifted their target price on 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 lifted their target price on Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Mizuho lifted their target price on Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $368.53.

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.