Jackson Square Capital LLC Has $7.50 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Jackson Square Capital LLC raised its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 51.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,339 shares of the software maker’s stock after acquiring an additional 7,283 shares during the quarter. Cadence Design Systems makes up about 1.6% of Jackson Square Capital LLC’s portfolio, making the stock its 18th largest holding. Jackson Square Capital LLC’s holdings in Cadence Design Systems were worth $7,496,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CDNS. Vanguard Group Inc. lifted its holdings in Cadence Design Systems by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 26,595,861 shares of the software maker’s stock worth $8,195,515,000 after buying an additional 256,719 shares during the period. State Street Corp increased its stake in shares of Cadence Design Systems by 1.4% in the second quarter. State Street Corp now owns 12,318,585 shares of the software maker’s stock valued at $3,795,972,000 after buying an additional 172,551 shares during the period. Jennison Associates LLC raised its position in shares of Cadence Design Systems by 3.0% during the second quarter. Jennison Associates LLC now owns 9,338,102 shares of the software maker’s stock worth $2,877,536,000 after acquiring an additional 273,149 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cadence Design Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 6,363,734 shares of the software maker’s stock worth $1,952,771,000 after acquiring an additional 77,478 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 valued at $1,202,733,000 after acquiring an additional 312,757 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock opened at $314.91 on Friday. The business has a 50-day simple moving average of $324.04 and a 200 day simple moving average of $331.03. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The firm has a market capitalization of $85.72 billion, a price-to-earnings ratio of 81.16, a PEG ratio of 4.05 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 earnings per share. 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. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO John M. Wall sold 27,805 shares of Cadence Design Systems stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the transaction, the chief financial officer owned 69,957 shares of the company’s stock, valued at $22,286,201.49. The trade was a 28.44% 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, CEO Anirudh Devgan sold 20,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. The trade was a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 69,525 shares of company stock valued at $23,021,216. 1.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CDNS shares. BNP Paribas began coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Oppenheimer raised shares of 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. Wolfe Research reissued an “outperform” rating and issued a $385.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cadence Design Systems in a research note on Monday. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $379.11.

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.