Plancorp LLC Makes New Investment in Cadence Design Systems, Inc. $CDNS

Plancorp LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 711 shares of the software maker’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently modified their holdings of CDNS. GAMMA Investing LLC raised its position in Cadence Design Systems by 31,049.1% during the first quarter. GAMMA Investing LLC now owns 1,218,241 shares of the software maker’s stock valued at $309,835,000 after acquiring an additional 1,214,330 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Cadence Design Systems during the 1st quarter worth approximately $289,744,000. Jennison Associates LLC increased its holdings in shares of Cadence Design Systems by 13.2% during the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock valued at $2,305,489,000 after purchasing an additional 1,054,702 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Cadence Design Systems by 466.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock valued at $242,468,000 after purchasing an additional 647,931 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Cadence Design Systems by 1.7% during the first quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock worth $6,698,834,000 after buying an additional 429,955 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CDNS. Robert W. Baird lifted their price objective on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a report on Monday, July 28th. JPMorgan Chase & Co. lifted their price target on Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. KeyCorp increased their price target on Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Berenberg Bank set a $400.00 price objective on Cadence Design Systems in a research report on Wednesday, July 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $355.00 target price (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $364.33.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $351.06 on Friday. 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 stock’s 50 day simple moving average is $349.81 and its 200-day simple moving average is $309.43. The company has a market cap of $95.66 billion, a PE ratio of 94.88, a price-to-earnings-growth ratio of 4.68 and a beta of 1.00. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The firm’s revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. 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 research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity

In other Cadence Design Systems news, 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 transaction, the vice president directly owned 102,499 shares of the company’s stock, valued at $35,254,531.05. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the completion of the sale, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,180 shares of company stock worth $1,069,232. Insiders own 1.99% of the company’s stock.

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.