Janus Henderson Group PLC Sells 194,937 Shares of Cadence Design Systems, Inc. $CDNS

Janus Henderson Group PLC cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,661,371 shares of the software maker’s stock after selling 194,937 shares during the quarter. Janus Henderson Group PLC owned about 0.98% of Cadence Design Systems worth $831,902,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Cadence Design Systems in the 4th quarter worth about $1,352,922,000. J. Stern & Co. LLP grew its position in Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock valued at $923,129,000 after purchasing an additional 2,924,470 shares during the last quarter. Assenagon Asset Management S.A. grew its position in 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 valued at $351,470,000 after purchasing an additional 615,440 shares during the last quarter. Scge Management L.P. purchased a new stake in Cadence Design Systems during the 2nd quarter valued at about $187,663,000. Finally, Invesco Ltd. grew its position in Cadence Design Systems by 20.4% during the 3rd quarter. Invesco Ltd. now owns 2,942,746 shares of the software maker’s stock valued at $1,033,669,000 after purchasing an additional 499,009 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Transactions at Cadence Design Systems

In other news, CEO Anirudh Devgan sold 51,887 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $370.00, for a total value of $19,198,190.00. Following the transaction, the chief executive officer owned 303,525 shares in the company, valued at $112,304,250. This represents a 14.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Scannell sold 10,500 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $339.00, for a total transaction of $3,559,500.00. Following the completion of the transaction, the vice president owned 33,946 shares in the company, valued at $11,507,694. This trade represents a 23.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 179,557 shares of company stock worth $67,205,642. 0.49% of the stock is currently owned by corporate insiders.

Cadence Design Systems Price Performance

CDNS opened at $389.60 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.47. The stock has a market capitalization of $107.46 billion, a P/E ratio of 90.82, a P/E/G ratio of 4.59 and a beta of 1.15. The company’s 50-day simple moving average is $351.03 and its two-hundred day simple moving average is $320.63. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.57 EPS. 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, analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Cadence Design Systems from $319.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Robert W. Baird increased their price objective on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wells Fargo & Company increased their price objective on shares of Cadence Design Systems from $400.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley cut their price objective on shares of Cadence Design Systems from $385.00 to $370.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, KeyCorp increased their price objective on shares of Cadence Design Systems from $405.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Fourteen 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $386.59.

About Cadence Design Systems

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.