Shell Asset Management Co. Acquires 4,302 Shares of Cadence Design Systems, Inc. $CDNS

Shell Asset Management Co. grew its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,755 shares of the software maker’s stock after purchasing an additional 4,302 shares during the period. Cadence Design Systems makes up about 0.6% of Shell Asset Management Co.’s holdings, making the stock its 25th biggest position. Shell Asset Management Co.’s holdings in Cadence Design Systems were worth $16,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CDNS. Vanguard Group Inc. lifted its position in shares of Cadence Design Systems by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker’s stock worth $6,698,834,000 after purchasing an additional 429,955 shares during the period. Jennison Associates LLC lifted its position in shares of Cadence Design Systems by 13.2% in the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker’s stock worth $2,305,489,000 after purchasing an additional 1,054,702 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cadence Design Systems by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker’s stock worth $1,202,733,000 after purchasing an additional 312,757 shares during the period. Invesco Ltd. lifted its position in shares of Cadence Design Systems by 14.0% in the 1st quarter. Invesco Ltd. now owns 2,416,284 shares of the software maker’s stock worth $614,534,000 after purchasing an additional 296,983 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Cadence Design Systems by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,245,930 shares of the software maker’s stock worth $571,208,000 after purchasing an additional 8,361 shares during the period. Institutional investors own 84.85% of the company’s stock.

Analysts Set New Price Targets

CDNS has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a report on Saturday, September 27th. Berenberg Bank set a $400.00 price objective on shares of Cadence Design Systems in a report on Wednesday, July 30th. Robert W. Baird lifted their price target on shares of Cadence Design Systems from $340.00 to $380.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Stifel Nicolaus lifted their price objective on shares of Cadence Design Systems from $350.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, KeyCorp lifted their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $368.53.

Cadence Design Systems Stock Up 1.8%

NASDAQ:CDNS opened at $353.36 on Tuesday. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a 50-day moving average of $353.43 and a 200 day moving average of $315.14. The firm has a market cap of $96.29 billion, a PE ratio of 95.50, a price-to-earnings-growth ratio of 4.55 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.82 and a quick ratio of 2.67.

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

Insider Activity

In other news, CFO John M. Wall sold 7,500 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 70,715 shares in the company, valued at $24,690,849.40. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total transaction of $348,270.00. Following the transaction, the vice president owned 99,672 shares in the company, valued at approximately $34,712,767.44. This trade represents a 0.99% 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 90 days. 0.37% of the stock is currently owned by corporate insiders.

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.