Praxis Investment Management Inc. grew its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) by 17.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,442 shares of the software maker’s stock after purchasing an additional 1,818 shares during the period. Praxis Investment Management Inc.’s holdings in Cadence Design Systems were worth $3,457,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC raised its holdings in Cadence Design Systems by 1.0% in the 1st quarter. V Square Quantitative Management LLC now owns 10,544 shares of the software maker’s stock valued at $2,930,000 after acquiring an additional 101 shares in the last quarter. Vivid Wealth Management LLC raised its stake in shares of Cadence Design Systems by 1.2% in the first quarter. Vivid Wealth Management LLC now owns 8,107 shares of the software maker’s stock valued at $2,253,000 after purchasing an additional 98 shares in the last quarter. QRG Capital Management Inc. lifted its position in Cadence Design Systems by 9.5% in the first quarter. QRG Capital Management Inc. now owns 67,105 shares of the software maker’s stock worth $18,647,000 after purchasing an additional 5,831 shares during the period. Oxbow Advisors LLC bought a new stake in Cadence Design Systems in the 1st quarter valued at $2,862,000. Finally, Tensor Edge Capital LLC bought a new stake in Cadence Design Systems in the 1st quarter valued at $27,926,000. Institutional investors own 84.85% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on CDNS shares. Wells Fargo & Company lifted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. KeyCorp increased their target price on Cadence Design Systems from $405.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, April 28th. Berenberg Bank set a $440.00 price objective on Cadence Design Systems in a report on Wednesday, May 27th. Finally, Stifel Nicolaus increased their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $386.59.
Insider Transactions at Cadence Design Systems
In other news, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the sale, the chief executive officer owned 303,525 shares of the company’s stock, valued at $112,304,250. This trade represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Wall sold 21,500 shares of Cadence Design Systems stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $309.45, for a total value of $6,653,175.00. Following the transaction, the chief financial officer owned 86,875 shares in the company, valued at $26,883,468.75. This trade represents a 19.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 178,557 shares of company stock valued at $66,925,452. Insiders own 0.49% of the company’s stock.
Cadence Design Systems Stock Performance
CDNS stock opened at $373.14 on Friday. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The company has a market cap of $102.92 billion, a P/E ratio of 86.98, a price-to-earnings-growth ratio of 4.42 and a beta of 1.15. The business’s fifty day moving average is $369.80 and its 200-day moving average is $324.78.
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last released its quarterly earnings data on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. Equities research analysts forecast that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.
Cadence Design Systems Company Profile
Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.
The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.
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