Janney Montgomery Scott LLC Sells 26,391 Shares of Cadence Design Systems, Inc. $CDNS

Janney Montgomery Scott LLC reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 31.6% in the second quarter, Holdings Channel reports. The fund owned 57,042 shares of the software maker’s stock after selling 26,391 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cadence Design Systems were worth $17,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Capital Wealth Partners LLC boosted its position in shares of Cadence Design Systems by 2.8% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,214 shares of the software maker’s stock valued at $309,000 after acquiring an additional 33 shares during the last quarter. Empower Advisory Group LLC boosted its position in shares of Cadence Design Systems by 4.1% during the 1st quarter. Empower Advisory Group LLC now owns 911 shares of the software maker’s stock valued at $232,000 after acquiring an additional 36 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Cadence Design Systems by 0.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 13,337 shares of the software maker’s stock valued at $3,392,000 after acquiring an additional 36 shares during the last quarter. Greenleaf Trust boosted its position in shares of Cadence Design Systems by 0.7% during the 1st quarter. Greenleaf Trust now owns 5,802 shares of the software maker’s stock valued at $1,476,000 after acquiring an additional 39 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Cadence Design Systems by 3.9% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,072 shares of the software maker’s stock valued at $285,000 after acquiring an additional 40 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC increased their target price on Cadence Design Systems from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Mizuho raised their price target on Cadence Design Systems from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. BNP Paribas Exane began coverage on Cadence Design Systems in a research report on Thursday. They issued an “outperform” rating and a $400.00 price target for the company. KeyCorp raised their price target on Cadence Design Systems from $358.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, BNP Paribas began coverage on Cadence Design Systems in a research report on Thursday. They issued an “outperform” rating and a $400.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $368.53.

Cadence Design Systems Stock Performance

CDNS stock opened at $347.24 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $352.74 and its two-hundred day simple moving average is $313.09. Cadence Design Systems, Inc. has a twelve month low of $221.56 and a twelve month high of $376.45. The firm has a market cap of $94.62 billion, a price-to-earnings ratio of 93.85, a PEG ratio of 4.62 and a beta of 0.99.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. Cadence Design Systems had a return on equity of 29.65% and a net margin of 19.88%.The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO John M. Wall sold 7,500 shares of the firm’s 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 transaction, the chief financial officer owned 70,715 shares in the company, valued at approximately $24,690,849.40. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $334.51, for a total value of $60,211.80. Following the transaction, the director owned 7,830 shares in the company, valued at approximately $2,619,213.30. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,680 shares of company stock worth $3,729,852 over the last quarter. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems 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.