Everhart Financial Group Inc. Buys 26,490 Shares of Cadence Design Systems, Inc. $CDNS

Everhart Financial Group Inc. boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 435.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,573 shares of the software maker’s stock after acquiring an additional 26,490 shares during the quarter. Cadence Design Systems accounts for approximately 0.7% of Everhart Financial Group Inc.’s investment portfolio, making the stock its 25th biggest holding. Everhart Financial Group Inc.’s holdings in Cadence Design Systems were worth $10,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avalon Trust Co bought a new stake in Cadence Design Systems in the second quarter valued at approximately $30,000. Fiduciary Financial Advisors bought a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $31,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $28,000. Arlington Trust Co LLC raised its stake in Cadence Design Systems by 154.3% in the 2nd quarter. Arlington Trust Co LLC now owns 89 shares of the software maker’s stock valued at $33,000 after acquiring an additional 54 shares during the period. Finally, Burkett Financial Services LLC acquired a new stake in Cadence Design Systems during the 3rd quarter valued at $30,000. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Scannell sold 280 shares of Cadence Design Systems stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the transaction, the vice president directly owned 31,720 shares of the company’s stock, valued at $10,753,080. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $277.12, for a total value of $554,240.00. Following the sale, the vice president directly owned 121,793 shares in the company, valued at approximately $33,751,276.16. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,960 shares of company stock valued at $2,185,879. 0.49% of the stock is currently owned by corporate insiders.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded down $6.92 during trading on Thursday, reaching $349.20. The company’s stock had a trading volume of 470,447 shares, compared to its average volume of 2,451,146. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $318.98 and its 200-day moving average price is $336.55. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The firm has a market cap of $96.17 billion, a PE ratio of 69.46, a P/E/G ratio of 3.86 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. The business’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Equities analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on CDNS shares. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 29th. Robert W. Baird lifted their target price on shares of Cadence Design Systems from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Citigroup increased their price target on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, KeyCorp restated an “overweight” rating on shares of Cadence Design Systems in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average price target of $405.06.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company’s offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.