Employees Retirement System of Texas Boosts Holdings in Cadence Design Systems, Inc. $CDNS

Employees Retirement System of Texas grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,953 shares of the software maker’s stock after purchasing an additional 32,507 shares during the period. Employees Retirement System of Texas’ holdings in Cadence Design Systems were worth $89,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peterson Wealth Services grew its holdings in Cadence Design Systems by 1,501.3% during the third quarter. Peterson Wealth Services now owns 187,115 shares of the software maker’s stock valued at $65,726,000 after purchasing an additional 175,430 shares during the period. Pacer Advisors Inc. grew its position in shares of Cadence Design Systems by 83.3% during the third quarter. Pacer Advisors Inc. now owns 182,348 shares of the software maker’s stock worth $64,052,000 after purchasing an additional 82,856 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in Cadence Design Systems during the 3rd quarter valued at approximately $6,177,000. Patton Fund Management Inc. raised its stake in Cadence Design Systems by 1,743.7% during the 3rd quarter. Patton Fund Management Inc. now owns 13,994 shares of the software maker’s stock valued at $4,916,000 after purchasing an additional 13,235 shares during the period. Finally, Westerkirk Capital Inc. bought a new position in Cadence Design Systems in the 2nd quarter worth approximately $2,024,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Cadence Design Systems Stock Down 1.3%

NASDAQ CDNS opened at $290.32 on Friday. The stock has a 50 day moving average price of $302.41 and a 200-day moving average price of $322.67. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $376.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.67 and a current ratio of 2.86. The company has a market capitalization of $79.16 billion, a P/E ratio of 71.51, a P/E/G ratio of 3.53 and a beta of 1.00.

Cadence Design Systems (NASDAQ:CDNS) last released its quarterly earnings data on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.91 by $0.08. Cadence Design Systems had a net margin of 20.93% and a return on equity of 29.34%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $1.88 earnings per share. Cadence Design Systems’s quarterly revenue was up 6.2% compared to the same quarter last year. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. As a group, equities analysts predict that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup began coverage on shares of Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research report on Thursday, February 26th. Wells Fargo & Company cut their target price on shares of Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Finally, Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a report on Monday, December 1st. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and a consensus price target of $376.50.

Insider Activity

In other Cadence Design Systems news, CFO John M. Wall sold 27,805 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $318.57, for a total transaction of $8,857,838.85. Following the sale, the chief financial officer directly owned 69,957 shares of the company’s stock, valued at $22,286,201.49. The trade was a 28.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul Cunningham sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $297.78, for a total value of $297,780.00. Following the sale, the vice president owned 94,137 shares in the company, valued at approximately $28,032,115.86. This trade represents a 1.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,810 shares of company stock valued at $9,767,972. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.