Westwood Holdings Group Inc. Sells 1,650 Shares of Cadence Design Systems, Inc. $CDNS

Westwood Holdings Group Inc. cut its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 7.6% in the second quarter, HoldingsChannel.com reports. The firm owned 20,120 shares of the software maker’s stock after selling 1,650 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Cadence Design Systems were worth $6,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Cadence Design Systems in the 1st quarter valued at $289,744,000. Assenagon Asset Management S.A. increased 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 purchasing an additional 647,931 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cadence Design Systems by 7.1% in the first 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 worth $1,202,733,000 after buying an additional 312,757 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Cadence Design Systems by 686.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 350,814 shares of the software maker’s stock worth $108,103,000 after buying an additional 306,198 shares during the period. Institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling

In other news, CFO John M. Wall sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $349.16, for a total value of $2,618,700.00. Following the completion of the transaction, the chief financial officer directly owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. The trade was a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $334.51, for a total value 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 trade represents a 2.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,230 shares of company stock valued at $5,530,682. 1.99% of the stock is owned by insiders.

Cadence Design Systems Stock Performance

CDNS stock opened at $314.93 on Friday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The business has a 50-day moving average price of $341.41 and a 200 day moving average price of $329.62. The company has a market capitalization of $85.72 billion, a P/E ratio of 81.17, a PEG ratio of 4.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.67.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.79 by $0.14. The business 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 company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDNS has been the subject of several analyst reports. Wells Fargo & Company raised their target price on shares of Cadence Design Systems from $405.00 to $410.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Rosenblatt Securities upped their target price on Cadence Design Systems from $320.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Piper Sandler reissued a “neutral” rating and set a $355.00 price target (up from $328.00) on shares of Cadence Design Systems in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price objective on Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Stifel Nicolaus upped their price objective on Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $376.00.

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.