North Dallas Bank & Trust Co. Takes $1.75 Million Position in Cadence Design Systems, Inc. $CDNS

North Dallas Bank & Trust Co. bought a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 5,677 shares of the software maker’s stock, valued at approximately $1,749,000. Cadence Design Systems accounts for 1.3% of North Dallas Bank & Trust Co.’s investment portfolio, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westerkirk Capital Inc. acquired a new stake in Cadence Design Systems in the 2nd quarter worth about $2,024,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cadence Design Systems by 10.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,994 shares of the software maker’s stock valued at $44,064,000 after acquiring an additional 14,022 shares in the last quarter. EFG Asset Management North America Corp. acquired a new stake in shares of Cadence Design Systems in the second quarter worth approximately $4,073,000. Lyell Wealth Management LP boosted its stake in shares of Cadence Design Systems by 4.9% in the second quarter. Lyell Wealth Management LP now owns 50,339 shares of the software maker’s stock worth $15,512,000 after acquiring an additional 2,357 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its position in shares of Cadence Design Systems by 23.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 16,892 shares of the software maker’s stock worth $4,296,000 after purchasing an additional 3,206 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $323.22 on Friday. The company’s 50-day moving average is $326.91 and its two-hundred day moving average is $330.33. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.05 and a quick ratio of 2.84. The firm has a market capitalization of $87.98 billion, a price-to-earnings ratio of 83.30, a PEG ratio of 4.16 and a beta of 1.05.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results 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. Cadence Design Systems had a net margin of 20.35% and a return on equity of 30.13%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $1.64 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. Analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total value of $60,746.40. Following the transaction, the director owned 7,650 shares of the company’s stock, valued at $2,581,722. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Paul Scannell sold 5,490 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the transaction, the vice president directly owned 20,321 shares of the company’s stock, valued at approximately $6,897,557.03. This trade represents a 21.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 41,720 shares of company stock valued at $14,163,377. 1.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CDNS. Citigroup started coverage on Cadence Design Systems in a report on Monday, November 24th. They issued a “buy” rating and a $385.00 price objective on the stock. BNP Paribas Exane initiated 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 on the stock. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $390.00 to $418.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a report on Monday, December 1st. Finally, KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $379.11.

Cadence Design Systems Company 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.