DekaBank Deutsche Girozentrale Sells 514 Shares of Cadence Design Systems, Inc. $CDNS

DekaBank Deutsche Girozentrale reduced its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 516,204 shares of the software maker’s stock after selling 514 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Cadence Design Systems were worth $157,977,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Drive Wealth Management LLC increased its holdings in Cadence Design Systems by 16.1% in the second quarter. Drive Wealth Management LLC now owns 1,003 shares of the software maker’s stock worth $309,000 after purchasing an additional 139 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in Cadence Design Systems in the second quarter worth approximately $40,000. Evermay Wealth Management LLC increased its holdings in Cadence Design Systems by 18.9% in the second quarter. Evermay Wealth Management LLC now owns 528 shares of the software maker’s stock worth $163,000 after purchasing an additional 84 shares in the last quarter. Lyell Wealth Management LP increased its holdings in Cadence Design Systems by 4.9% in the second quarter. Lyell Wealth Management LP now owns 50,339 shares of the software maker’s stock worth $15,512,000 after purchasing an additional 2,357 shares in the last quarter. Finally, Calamos Wealth Management LLC bought a new stake in Cadence Design Systems in the second quarter worth approximately $205,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Up 1.1%

Shares of NASDAQ:CDNS opened at $329.64 on Tuesday. The stock has a market cap of $89.82 billion, a price-to-earnings ratio of 89.09, a PEG ratio of 4.28 and a beta of 0.99. 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’s 50 day moving average is $348.10 and its 200 day moving average is $320.42.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.09. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.Cadence Design Systems’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. 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 forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total transaction of $348,270.00. Following the transaction, the vice president owned 99,672 shares of the company’s stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 70,715 shares in the company, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,680 shares of company stock valued at $3,729,852 over the last 90 days. Insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CDNS shares. Wells Fargo & Company lifted their target price on Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on Cadence Design Systems in a report on Thursday, July 10th. They set a “buy” rating and a $380.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Cadence Design Systems in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $368.53.

Cadence Design Systems Company 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.