AEGON ASSET MANAGEMENT UK Plc Increases Stock Position in Cadence Design Systems, Inc. $CDNS

AEGON ASSET MANAGEMENT UK Plc increased its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 58.4% in the second quarter, Holdings Channel.com reports. The fund owned 166,010 shares of the software maker’s stock after purchasing an additional 61,215 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Cadence Design Systems were worth $51,124,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new position in Cadence Design Systems in the 1st quarter worth approximately $25,000. Costello Asset Management INC purchased a new position in Cadence Design Systems in the 1st quarter worth approximately $25,000. Saudi Central Bank purchased a new position in Cadence Design Systems in the 1st quarter worth approximately $27,000. Valley National Advisers Inc. raised its holdings in Cadence Design Systems by 707.1% in the 1st quarter. Valley National Advisers Inc. now owns 113 shares of the software maker’s stock worth $28,000 after acquiring an additional 99 shares during the last quarter. Finally, Barrett & Company Inc. purchased a new position in Cadence Design Systems in the 2nd quarter worth approximately $31,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Design Systems Trading Down 2.0%

Shares of CDNS stock opened at $325.75 on Wednesday. Cadence Design Systems, Inc. has a 1 year low of $221.56 and a 1 year high of $376.45. The firm has a fifty day moving average price of $350.33 and a 200-day moving average price of $317.89. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. The company has a market cap of $88.76 billion, a price-to-earnings ratio of 88.04, a PEG ratio of 4.36 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The company’s revenue for the quarter 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. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current 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 on Wednesday, October 1st. The shares were 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 in the company, valued at approximately $34,712,767.44. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John M. Wall sold 7,500 shares of Cadence Design Systems stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the transaction, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,680 shares of company stock worth $3,729,852. 0.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CDNS has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They issued a “buy” rating and a $380.00 price objective for the company. Stifel Nicolaus lifted their target price on shares of Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Mizuho lifted their target price on shares of Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Needham & Company LLC lifted their target price on shares of Cadence Design Systems from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a research report on Tuesday, July 29th. Thirteen equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.53.

Cadence Design Systems 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.