WINTON GROUP Ltd Purchases 4,283 Shares of Cadence Design Systems, Inc. $CDNS

WINTON GROUP Ltd grew its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 184.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,599 shares of the software maker’s stock after purchasing an additional 4,283 shares during the period. WINTON GROUP Ltd’s holdings in Cadence Design Systems were worth $2,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDNS. Brighton Jones LLC raised its position in shares of Cadence Design Systems by 80.2% during the 4th 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 during the last quarter. Zions Bancorporation National Association UT bought a new position in Cadence Design Systems during the first quarter worth about $108,000. Townsquare Capital LLC boosted its holdings in Cadence Design Systems by 15.8% during the first quarter. Townsquare Capital LLC now owns 5,867 shares of the software maker’s stock worth $1,492,000 after buying an additional 799 shares during the last quarter. SouthState Corp boosted its stake in Cadence Design Systems by 40.6% during the 1st quarter. SouthState Corp now owns 239 shares of the software maker’s stock worth $61,000 after acquiring an additional 69 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Cadence Design Systems by 6.6% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,065 shares of the software maker’s stock valued at $276,000 after purchasing an additional 66 shares during the period. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Stock Down 0.7%

CDNS stock opened at $335.07 on Wednesday. The business has a 50-day simple moving average of $327.91 and a 200 day simple moving average of $330.14. The company has a market cap of $91.21 billion, a PE ratio of 86.36, a price-to-earnings-growth ratio of 4.34 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, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on CDNS shares. JPMorgan Chase & Co. lifted their price target on shares of Cadence Design Systems from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Design Systems in a research note on Monday. BNP Paribas Exane started coverage on shares of Cadence Design Systems in a report on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 target price on the stock. Wall Street Zen downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, Robert W. Baird boosted their price target on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems currently has an average rating of “Moderate Buy” and an average target price of $379.11.

Insiders Place Their Bets

In other news, CFO John M. Wall sold 7,500 shares of the stock in a transaction on Tuesday, September 30th. The stock was 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 in the company, valued at approximately $24,690,849.40. This represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $312.64, for a total value of $312,640.00. Following the completion of the transaction, the vice president owned 97,067 shares of the company’s stock, valued at approximately $30,347,026.88. This represents a 1.02% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 36,050 shares of company stock valued at $12,239,160. Corporate insiders own 0.37% of the company’s stock.

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.