Versor Investments LP Acquires New Holdings in Cadence Design Systems, Inc. $CDNS

Versor Investments LP acquired a new stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,200 shares of the software maker’s stock, valued at approximately $370,000.

Several other hedge funds also recently bought and sold shares of CDNS. Brighton Jones LLC grew its stake in Cadence Design Systems by 80.2% during the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after acquiring an additional 676 shares in the last quarter. Mutual Advisors LLC grew its stake in Cadence Design Systems by 6.3% in the 1st quarter. Mutual Advisors LLC now owns 1,148 shares of the software maker’s stock worth $292,000 after buying an additional 68 shares in the last quarter. D.A. Davidson & CO. grew its stake in Cadence Design Systems by 8.0% in the 1st quarter. D.A. Davidson & CO. now owns 3,147 shares of the software maker’s stock worth $800,000 after buying an additional 232 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Cadence Design Systems by 11.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,117 shares of the software maker’s stock worth $284,000 after buying an additional 113 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Cadence Design Systems by 1.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 15,419 shares of the software maker’s stock worth $3,922,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Activity at Cadence Design Systems

In related news, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $340.26, for a total transaction of $340,260.00. Following the completion of the sale, the vice president directly owned 98,067 shares in the company, valued at $33,368,277.42. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total transaction of $60,211.80. Following the sale, the director owned 7,830 shares of the company’s stock, valued at $2,619,213.30. This represents a 2.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,680 shares of company stock worth $3,711,392 in the last three months. 0.37% of the stock is owned by insiders.

Cadence Design Systems Trading Down 1.7%

Shares of CDNS opened at $327.63 on Thursday. The firm has a market cap of $89.18 billion, a price-to-earnings ratio of 84.44, a PEG ratio of 4.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.67 and a current ratio of 3.05. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The firm has a 50 day moving average price of $345.46 and a 200-day moving average price of $327.46.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 EPS. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS. Q4 2025 guidance at 1.880-1.940 EPS. As a group, equities research analysts forecast that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CDNS shares. BNP Paribas started coverage on shares of Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Berenberg Bank set a $400.00 price target on shares of Cadence Design Systems in a research note on Wednesday, July 30th. Rosenblatt Securities boosted their price target 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. Finally, Piper Sandler reissued a “neutral” rating and issued a $355.00 price target (up previously from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $376.00.

Cadence Design Systems Profile

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.