Praxis Investment Management Inc. Has $3.46 Million Holdings in Cadence Design Systems, Inc. $CDNS

Praxis Investment Management Inc. boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.1% in the first quarter, Holdings Channel.com reports. The firm owned 12,442 shares of the software maker’s stock after acquiring an additional 1,818 shares during the period. Praxis Investment Management Inc.’s holdings in Cadence Design Systems were worth $3,457,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CDNS. Brighton Jones LLC grew its holdings in shares of Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock worth $456,000 after buying an additional 676 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in Cadence Design Systems by 3.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker’s stock worth $560,000 after acquiring an additional 80 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in Cadence Design Systems during the 2nd quarter worth approximately $205,000. NewEdge Advisors LLC grew its stake in shares of Cadence Design Systems by 39.3% during the 2nd quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker’s stock worth $10,720,000 after acquiring an additional 9,807 shares in the last quarter. Finally, Glenview Trust co bought a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $226,000. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $373.14 on Friday. The company has a 50-day simple moving average of $369.80 and a 200 day simple moving average of $324.78. The company has a market capitalization of $102.92 billion, a price-to-earnings ratio of 86.98, a PEG ratio of 4.42 and a beta of 1.15. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm earned $1.57 earnings per share. Cadence Design Systems’s revenue for the quarter was up 18.6% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. On average, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 earnings per share for the current year.

Insider Activity at Cadence Design Systems

In related news, CFO John M. Wall sold 21,500 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the completion of the sale, the chief financial officer directly owned 86,875 shares in the company, valued at $26,883,468.75. This represents a 19.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 51,887 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the completion of the sale, the chief executive officer owned 303,525 shares in the company, valued at approximately $112,304,250. The trade was a 14.60% 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. Insiders have sold 178,557 shares of company stock worth $66,925,452 in the last three months. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of research reports. Berenberg Bank set a $440.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Citigroup lifted their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus raised their price objective on Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and an average price target of $386.59.

About Cadence Design Systems

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.