Cadence Design Systems, Inc. $CDNS Position Increased by Evelyn Partners Investment Management LLP

Evelyn Partners Investment Management LLP increased its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 225.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 21,033 shares of the software maker’s stock after acquiring an additional 14,578 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Cadence Design Systems were worth $6,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cadence Design Systems by 10.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock worth $44,064,000 after buying an additional 14,022 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cadence Design Systems by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,779,848 shares of the software maker’s stock valued at $452,669,000 after acquiring an additional 73,719 shares during the last quarter. EFG Asset Management North America Corp. bought a new stake in shares of Cadence Design Systems during the 2nd quarter worth $4,073,000. Nuveen LLC acquired a new position in shares of Cadence Design Systems in the 1st quarter worth $289,744,000. Finally, Lyell Wealth Management LP raised its position in shares of Cadence Design Systems by 4.9% during the second quarter. Lyell Wealth Management LP now owns 50,339 shares of the software maker’s stock worth $15,512,000 after purchasing an additional 2,357 shares during the period. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 0.5%

Cadence Design Systems stock opened at $300.58 on Friday. The company has a quick ratio of 2.67, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. Cadence Design Systems, Inc. has a 12 month low of $221.56 and a 12 month high of $376.45. The company’s fifty day simple moving average is $336.71 and its 200-day simple moving average is $329.48. The stock has a market cap of $81.82 billion, a P/E ratio of 77.47, a P/E/G ratio of 4.55 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share (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 net margin of 20.35% and a return on equity of 30.13%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 earnings per share. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. As a group, sell-side analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CDNS shares. Robert W. Baird increased their price target on Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Mizuho lifted their price objective 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. BNP Paribas Exane assumed coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $390.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $376.00.

Insider Buying and Selling

In other news, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the sale, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $343.95, for a total value of $343,950.00. Following the completion of the transaction, the vice president directly owned 102,499 shares in the company, valued at $35,254,531.05. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,230 shares of company stock valued at $5,530,682 in the last three months. 1.99% of the stock is currently owned by corporate insiders.

Cadence Design Systems Company 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.