Veracity Capital LLC Takes $641,000 Position in Cadence Design Systems, Inc. $CDNS

Veracity Capital LLC bought a new position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,825 shares of the software maker’s stock, valued at approximately $641,000.

A number of other large investors have also bought and sold shares of the stock. Brighton Jones LLC grew its stake in shares of Cadence Design Systems by 80.2% in the 4th quarter. Brighton Jones LLC now owns 1,519 shares of the software maker’s stock valued at $456,000 after buying an additional 676 shares during the period. Algert Global LLC acquired a new position in Cadence Design Systems during the 1st quarter worth approximately $518,000. Aptus Capital Advisors LLC boosted its holdings in Cadence Design Systems by 3.0% in the first quarter. Aptus Capital Advisors LLC now owns 3,590 shares of the software maker’s stock worth $913,000 after acquiring an additional 104 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Cadence Design Systems by 14.8% during the first quarter. Wellington Management Group LLP now owns 463,353 shares of the software maker’s stock valued at $117,845,000 after acquiring an additional 59,671 shares in the last quarter. Finally, HMS Capital Management LLC raised its position in shares of Cadence Design Systems by 6.2% during the first quarter. HMS Capital Management LLC now owns 4,696 shares of the software maker’s stock worth $1,098,000 after purchasing an additional 274 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Cadence Design Systems Price Performance

Cadence Design Systems stock opened at $313.02 on Thursday. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45. The company’s 50 day moving average price is $324.95 and its two-hundred day moving average price is $330.99. The stock has a market cap of $85.20 billion, a P/E ratio of 80.68, a P/E/G ratio of 4.11 and a beta of 1.05. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings results on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.Cadence Design Systems’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted $1.64 earnings per share. 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. On average, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Activity

In related news, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $312.64, for a total transaction of $312,640.00. Following the completion of the sale, the vice president owned 97,067 shares in the company, valued at approximately $30,347,026.88. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Paul Scannell sold 5,490 shares of Cadence Design Systems 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 completion of the sale, the vice president directly owned 20,321 shares in the company, valued at approximately $6,897,557.03. This represents a 21.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 41,720 shares of company stock worth $14,163,377. 1.99% of the stock is owned by insiders.

Analyst Ratings Changes

CDNS has been the subject of a number of recent research reports. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 28th. Needham & Company LLC restated a “buy” rating and issued a $390.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 28th. Rosenblatt Securities lifted their price target 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Cadence Design Systems in a report on Monday. Finally, BNP Paribas Exane initiated coverage on Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently 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.