State of New Jersey Common Pension Fund D Raises Holdings in Cadence Design Systems, Inc. $CDNS

State of New Jersey Common Pension Fund D grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,760 shares of the software maker’s stock after buying an additional 271 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cadence Design Systems were worth $28,276,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Novem Group raised its stake in shares of Cadence Design Systems by 30.3% during the 1st quarter. Novem Group now owns 4,067 shares of the software maker’s stock valued at $1,034,000 after purchasing an additional 945 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cadence Design Systems by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock worth $44,064,000 after purchasing an additional 14,022 shares in the last quarter. Brookstone Capital Management lifted its holdings in Cadence Design Systems by 19.9% during the 1st quarter. Brookstone Capital Management now owns 17,430 shares of the software maker’s stock worth $4,433,000 after purchasing an additional 2,898 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Cadence Design Systems by 22.5% during the 1st quarter. GAMMA Investing LLC now owns 4,790 shares of the software maker’s stock worth $1,218,000 after purchasing an additional 879 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Cadence Design Systems by 2.2% during the 1st quarter. Amalgamated Bank now owns 58,225 shares of the software maker’s stock worth $14,808,000 after purchasing an additional 1,228 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the transaction, the director directly owned 7,830 shares in the company, valued at $2,619,213.30. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $348.27, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,680 shares of company stock worth $3,729,852 in the last ninety days. 1.99% of the stock is owned by insiders.

Cadence Design Systems Price Performance

CDNS opened at $345.10 on Friday. The stock’s 50 day simple moving average is $346.99 and its 200 day simple moving average is $322.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67. 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 cap of $94.04 billion, a price-to-earnings ratio of 93.27, a PEG ratio of 4.42 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $1.28 EPS. Cadence Design Systems’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, analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analysts Set New Price Targets

CDNS has been the topic of a number of research analyst reports. Mizuho upped their target price on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. BNP Paribas initiated coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Berenberg Bank set a $400.00 target price on Cadence Design Systems in a research note on Wednesday, July 30th. Wells Fargo & Company upped their target price on Cadence Design Systems from $365.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus upped their target price on Cadence Design Systems from $350.00 to $395.00 and gave the stock a “buy” rating in a research note 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 stock. Based on data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus target price of $369.71.

About Cadence Design Systems

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.