Axxcess Wealth Management LLC Decreases Stock Position in Cadence Design Systems, Inc. $CDNS

Axxcess Wealth Management LLC trimmed its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 4.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,751 shares of the software maker’s stock after selling 91 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Cadence Design Systems were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CDNS. Nuveen LLC purchased a new stake in shares of Cadence Design Systems during the 1st quarter valued at about $289,744,000. Jennison Associates LLC raised its position 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 buying an additional 1,054,702 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Cadence Design Systems by 466.4% during 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 buying an additional 647,931 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock valued at $6,698,834,000 after buying an additional 429,955 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cadence Design Systems by 7.1% during the 1st 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 buying an additional 312,757 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the transaction, the vice president directly owned 99,672 shares in the company, valued at $34,712,767.44. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $334.51, for a total transaction of $60,211.80. Following the completion of the sale, the director directly owned 7,830 shares of the company’s stock, valued at $2,619,213.30. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,680 shares of company stock worth $3,729,852 in the last three months. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BNP Paribas assumed coverage on shares of Cadence Design Systems in a research report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on shares of Cadence Design Systems in a report on Thursday, July 10th. They set a “buy” rating and a $380.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Cadence Design Systems from $330.00 to $390.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $300.00 price target on shares of Cadence Design Systems in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.53.

Cadence Design Systems Price Performance

Shares of CDNS stock opened at $326.12 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 company has a market capitalization of $88.86 billion, a P/E ratio of 88.14, a P/E/G ratio of 4.25 and a beta of 0.99. The company’s 50-day simple moving average is $348.49 and its two-hundred day simple moving average is $318.88. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45.

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

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.