Artisan Partners Limited Partnership decreased its stake in Cognex Corporation (NASDAQ:CGNX) by 24.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 823,676 shares of the scientific and technical instruments company’s stock after selling 268,983 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.95% of Cognex Corporation worth $69,930,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CGNX. Segantii Capital Management Ltd acquired a new position in Cognex Corporation in the 1st quarter worth about $101,000. Daiwa Securities Group Inc. acquired a new position in Cognex Corporation in the 2nd quarter worth about $102,000. Fifth Third Bancorp raised its holdings in Cognex Corporation by 69.9% in the 1st quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after purchasing an additional 650 shares during the period. Meeder Asset Management Inc. acquired a new position in Cognex Corporation in the 2nd quarter worth about $135,000. Finally, IFP Advisors Inc raised its holdings in Cognex Corporation by 46.8% in the 2nd quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock worth $163,000 after purchasing an additional 612 shares during the period. Hedge funds and other institutional investors own 87.25% of the company’s stock.
In other news, Director Bruce Robinson J sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $106.50, for a total transaction of $745,500.00. Following the sale, the director now owns 5,625 shares of the company’s stock, valued at approximately $599,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total value of $513,350.00. Following the sale, the director now directly owns 6,000 shares in the company, valued at approximately $616,020. The disclosure for this sale can be found here. Insiders have sold a total of 126,750 shares of company stock worth $13,242,726 in the last three months. Corporate insiders own 5.60% of the company’s stock.
A number of equities analysts recently weighed in on CGNX shares. Cowen and Company reaffirmed a “buy” rating and issued a $100.00 price target on shares of Cognex Corporation in a report on Tuesday, July 11th. BidaskClub cut Cognex Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Wolfe Research raised Cognex Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Finally, Zacks Investment Research cut Cognex Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.75.
Cognex Corporation (NASDAQ:CGNX) opened at 114.06 on Wednesday. Cognex Corporation has a one year low of $49.68 and a one year high of $115.35. The firm’s 50 day moving average price is $105.58 and its 200-day moving average price is $92.16. The firm has a market cap of $9.87 billion, a PE ratio of 52.11 and a beta of 1.40.
Cognex Corporation (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. The business had revenue of $172.90 million for the quarter, compared to analyst estimates of $169.79 million. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 EPS. Equities analysts predict that Cognex Corporation will post $2.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Wednesday, August 16th. Cognex Corporation’s dividend payout ratio (DPR) is 15.60%.
Cognex Corporation Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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