Evelyn Partners Investment Management Services Ltd Sells 10,720 Shares of Cadence Design Systems, Inc. $CDNS

Evelyn Partners Investment Management Services Ltd reduced its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 66.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,299 shares of the software maker’s stock after selling 10,720 shares during the quarter. Evelyn Partners Investment Management Services Ltd’s holdings in Cadence Design Systems were worth $1,633,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CDNS. Costello Asset Management INC bought a new position in shares of Cadence Design Systems in the first quarter valued at about $25,000. Barrett & Company Inc. acquired a new stake in Cadence Design Systems during the second quarter worth approximately $31,000. Saudi Central Bank bought a new stake in shares of Cadence Design Systems during the first quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Cadence Design Systems by 41.1% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 127 shares of the software maker’s stock worth $39,000 after purchasing an additional 37 shares during the period. Finally, Key Financial Inc lifted its holdings in Cadence Design Systems by 174.5% during the 2nd quarter. Key Financial Inc now owns 129 shares of the software maker’s stock worth $40,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CDNS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Mizuho upped their price target on shares of Cadence Design Systems from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Rosenblatt Securities lifted 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. Stifel Nicolaus boosted their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cadence Design Systems from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.00.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $300.58 on Friday. 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 52 week low of $221.56 and a 52 week high of $376.45. The stock has a market capitalization of $81.82 billion, a P/E ratio of 77.47, a price-to-earnings-growth ratio of 4.55 and a beta of 1.00. The stock has a fifty day moving average of $336.71 and a 200-day moving average of $329.48.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $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. On average, sell-side analysts expect that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO John M. Wall sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the transaction, the chief financial officer owned 70,715 shares of the company’s stock, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,230 shares of company stock worth $5,530,682 in the last 90 days. 1.99% of the stock is currently owned by company insiders.

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.