Cadence Design Systems, Inc. $CDNS Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 27.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,119 shares of the software maker’s stock after selling 35,794 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cadence Design Systems were worth $29,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDNS. Norges Bank bought a new stake in shares of Cadence Design Systems during the 4th quarter worth about $1,352,922,000. Assenagon Asset Management S.A. raised its position in shares of Cadence Design Systems by 120.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker’s stock worth $351,470,000 after buying an additional 615,440 shares in the last quarter. Scge Management L.P. bought a new stake in shares of Cadence Design Systems during the 2nd quarter worth about $187,663,000. Invesco Ltd. raised its position in shares of Cadence Design Systems by 20.4% during the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock worth $1,033,669,000 after buying an additional 499,009 shares in the last quarter. Finally, Close Asset Management Ltd raised its position in shares of Cadence Design Systems by 577.5% during the 3rd quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock worth $199,088,000 after buying an additional 483,039 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $394.50 on Tuesday. The firm’s 50 day simple moving average is $346.64 and its 200-day simple moving average is $319.47. The company has a market cap of $108.81 billion, a P/E ratio of 91.96, a price-to-earnings-growth ratio of 4.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.47 and a quick ratio of 1.32. Cadence Design Systems, Inc. has a fifty-two week low of $262.75 and a fifty-two week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted $1.57 earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. As a group, equities research analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on CDNS shares. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a report on Wednesday, May 27th. Wells Fargo & Company boosted their target price on shares of Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $381.00 to $385.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Citigroup boosted their target price on shares of Cadence Design Systems from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $360.00 target price on shares of Cadence Design Systems in a report on Friday, April 24th. Fourteen 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $386.59.

Insider Activity

In related news, CEO Anirudh Devgan sold 51,887 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total transaction of $19,198,190.00. Following the transaction, the chief executive officer directly owned 303,525 shares of the company’s stock, valued at approximately $112,304,250. The trade was a 14.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the transaction, the vice president directly owned 33,946 shares in the company, valued at $11,507,694. The trade was a 23.62% 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 sold a total of 177,557 shares of company stock valued at $66,423,642 in the last three months. 0.49% of the stock is currently owned by insiders.

Cadence Design Systems Company 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.