Cadence Design Systems, Inc. $CDNS Stock: TD Waterhouse Canada Inc. Raises Position

TD Waterhouse Canada Inc. boosted its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 979.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 74,315 shares of the software maker’s stock after buying an additional 67,433 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Cadence Design Systems were worth $24,538,000 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 the company. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Cadence Design Systems in the third quarter worth $213,000. Goelzer Investment Management Inc. acquired a new position in Cadence Design Systems during the third quarter valued at $1,342,000. NFSG Corp raised its position in Cadence Design Systems by 47.5% during the third quarter. NFSG Corp now owns 7,986 shares of the software maker’s stock valued at $2,604,000 after buying an additional 2,570 shares during the period. V Square Quantitative Management LLC lifted its stake in Cadence Design Systems by 7.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 6,182 shares of the software maker’s stock worth $2,041,000 after acquiring an additional 418 shares in the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. lifted its stake in Cadence Design Systems by 4.4% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 8,687 shares of the software maker’s stock worth $2,868,000 after acquiring an additional 370 shares in the last quarter. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Paul Scannell sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $339.00, for a total value of $94,920.00. Following the completion of the sale, the vice president directly owned 31,720 shares in the company, valued at approximately $10,753,080. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $277.12, for a total transaction of $554,240.00. Following the sale, the vice president directly owned 121,793 shares of the company’s stock, valued at approximately $33,751,276.16. This represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,960 shares of company stock valued at $2,834,139 in the last three months. 0.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CDNS. Rosenblatt Securities raised their price objective on Cadence Design Systems from $410.00 to $420.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Citigroup upped their target price on Cadence Design Systems from $400.00 to $420.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price target (up from $370.00) on shares of Cadence Design Systems in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $420.00 price target (up from $400.00) on shares of Cadence Design Systems in a report on Wednesday, October 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Cadence Design Systems in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.14.

Cadence Design Systems Trading Down 1.5%

Shares of NASDAQ CDNS opened at $319.51 on Friday. The business has a 50 day simple moving average of $318.85 and a 200 day simple moving average of $338.84. Cadence Design Systems, Inc. has a 52 week low of $262.75 and a 52 week high of $416.69. The stock has a market cap of $87.99 billion, a price-to-earnings ratio of 63.52, a PEG ratio of 3.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.06. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a net margin of 23.60% and a return on equity of 27.98%. Cadence Design Systems’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. On average, research analysts predict that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current fiscal year.

Cadence Design Systems Profile

Cadence Design Systems, Inc develops computational software, hardware, and semiconductor intellectual property used to design and verify electronic systems and integrated circuits. Its electronic design automation (EDA) solutions support chip development across areas such as digital and custom IC design, functional verification, emulation, prototyping, and system analysis.

The company also provides semiconductor IP, including processor cores, interconnect technologies, memory interfaces, and other building blocks that help customers develop complex chips.