Burney Co. Has $5.54 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Burney Co. trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 34.3% in the first quarter, Holdings Channel.com reports. The firm owned 19,920 shares of the software maker’s stock after selling 10,397 shares during the period. Burney Co.’s holdings in Cadence Design Systems were worth $5,535,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Westfuller Advisors LLC raised its stake in shares of Cadence Design Systems by 8.2% during the first quarter. Westfuller Advisors LLC now owns 408 shares of the software maker’s stock worth $113,000 after buying an additional 31 shares during the last quarter. Appleton Partners Inc. MA grew its holdings in Cadence Design Systems by 1.5% during the 1st quarter. Appleton Partners Inc. MA now owns 38,928 shares of the software maker’s stock worth $10,817,000 after acquiring an additional 563 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Cadence Design Systems by 16.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,061 shares of the software maker’s stock worth $576,000 after acquiring an additional 291 shares during the period. Marietta Investment Partners LLC raised its position in shares of Cadence Design Systems by 2.6% during the 1st quarter. Marietta Investment Partners LLC now owns 2,090 shares of the software maker’s stock valued at $581,000 after acquiring an additional 52 shares during the last quarter. Finally, Ascentis Independent Advisors raised its position in shares of Cadence Design Systems by 34.8% during the 1st quarter. Ascentis Independent Advisors now owns 1,263 shares of the software maker’s stock valued at $351,000 after acquiring an additional 326 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CDNS. Wells Fargo & Company raised their price target on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Citigroup increased their target price on Cadence Design Systems from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Piper Sandler raised their target price on Cadence Design Systems from $319.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Rosenblatt Securities restated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $386.59.

Cadence Design Systems Stock Up 0.7%

NASDAQ:CDNS opened at $375.77 on Tuesday. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $416.69. The stock has a 50-day moving average price of $371.02 and a two-hundred day moving average price of $325.22. The stock has a market cap of $103.64 billion, a price-to-earnings ratio of 87.59, a PEG ratio of 4.42 and a beta of 1.15. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

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

Insider Activity

In other news, Director James D. Plummer sold 1,511 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $381.34, for a total transaction of $576,204.74. Following the completion of the sale, the director owned 23,264 shares of the company’s stock, valued at $8,871,493.76. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anirudh Devgan sold 25,005 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $415.00, for a total transaction of $10,377,075.00. Following the sale, the chief executive officer owned 253,519 shares in the company, valued at approximately $105,210,385. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 178,557 shares of company stock worth $66,925,452. Corporate insiders own 0.49% of the company’s stock.

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.