Cadence Design Systems, Inc. $CDNS Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,403 shares of the software maker’s stock after selling 24,204 shares during the quarter. Cadence Design Systems comprises approximately 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 22nd largest holding. Wedge Capital Management L L P NC’s holdings in Cadence Design Systems were worth $64,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Flputnam Investment Management Co. lifted its position in Cadence Design Systems by 601.8% during the third quarter. Flputnam Investment Management Co. now owns 34,312 shares of the software maker’s stock valued at $12,052,000 after purchasing an additional 29,423 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in shares of Cadence Design Systems by 47.6% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,314 shares of the software maker’s stock valued at $813,000 after buying an additional 746 shares during the period. Bowman & Co S.C. grew its holdings in Cadence Design Systems by 24.1% during the third quarter. Bowman & Co S.C. now owns 1,802 shares of the software maker’s stock worth $633,000 after acquiring an additional 350 shares during the period. Perpetual Ltd grew its holdings in Cadence Design Systems by 10.9% during the third quarter. Perpetual Ltd now owns 2,941 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 288 shares during the period. Finally, Jackson Square Capital LLC raised its position in Cadence Design Systems by 51.8% during the third quarter. Jackson Square Capital LLC now owns 21,339 shares of the software maker’s stock valued at $7,496,000 after acquiring an additional 7,283 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $340.00, for a total value of $6,800,000.00. Following the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total value of $1,863,470.70. Following the transaction, the vice president owned 20,321 shares in the company, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 69,525 shares of company stock valued at $23,021,216. Company insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BNP Paribas began coverage on Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price objective on the stock. Oppenheimer upgraded Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target on the stock in a research report on Monday, December 1st. JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Wall Street Zen downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, Robert W. Baird lifted their price target on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Stock Performance

Shares of NASDAQ:CDNS opened at $314.91 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The firm has a market capitalization of $85.72 billion, a PE ratio of 81.16, a P/E/G ratio of 4.05 and a beta of 1.05. The business’s 50 day moving average price is $324.04 and its 200-day moving average price is $331.30.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $1.64 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities research analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

About Cadence Design Systems

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.