Wedge Capital Management L L P NC Decreases Stock Position in Cadence Design Systems, Inc. $CDNS

Wedge Capital Management L L P NC decreased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 11.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,403 shares of the software maker’s stock after selling 24,204 shares during the period. Cadence Design Systems comprises approximately 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 22nd largest holding. Wedge Capital Management L L P NC owned approximately 0.07% of Cadence Design Systems worth $64,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Barrett & Company Inc. purchased a new position in Cadence Design Systems during the 2nd quarter worth $31,000. Strategic Wealth Investment Group LLC bought a new position in shares of Cadence Design Systems during the 2nd quarter worth $32,000. Saudi Central Bank bought a new position in shares of Cadence Design Systems during the 1st quarter worth $27,000. Promus Capital LLC purchased a new position in shares of Cadence Design Systems during the second quarter valued at $33,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Cadence Design Systems in the third quarter valued at about $39,000. Institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Trading Down 0.1%

NASDAQ CDNS opened at $314.91 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The firm has a market cap of $85.72 billion, a PE ratio of 81.16, a price-to-earnings-growth ratio of 4.05 and a beta of 1.05. The company has a 50 day moving average price of $324.04 and a 200 day moving average price of $331.30. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS) last announced its earnings results on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $1.64 earnings per share. Cadence Design Systems’s revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its 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.

Insider Transactions at Cadence Design Systems

In other news, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the sale, the chief financial officer owned 69,957 shares in the company, valued at approximately $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the sale, the vice president directly owned 20,321 shares in the company, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 69,525 shares of company stock worth $23,021,216. 1.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CDNS shares. Rosenblatt Securities upped their price objective on shares of Cadence Design Systems from $320.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Design Systems in a report on Monday, December 15th. JPMorgan Chase & Co. increased their price objective on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Wells Fargo & Company boosted their price objective on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, BNP Paribas initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They set an “outperform” rating and a $400.00 target price for the company. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average price target of $379.11.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.