Headlands Technologies LLC lessened its stake in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 67.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,852 shares of the scientific and technical instruments company's stock after selling 13,918 shares during the period. Headlands Technologies LLC's holdings in Cognex were worth $204,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CGNX. Centaurus Financial Inc. increased its stake in shares of Cognex by 16.0% in the 4th quarter. Centaurus Financial Inc. now owns 3,267 shares of the scientific and technical instruments company's stock worth $117,000 after purchasing an additional 450 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Cognex by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 75,575 shares of the scientific and technical instruments company's stock worth $2,710,000 after purchasing an additional 470 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Cognex by 7.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 7,698 shares of the scientific and technical instruments company's stock worth $230,000 after purchasing an additional 532 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Cognex by 155.3% in the 1st quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company's stock worth $32,000 after purchasing an additional 646 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Cognex by 105.5% in the 1st quarter. UMB Bank n.a. now owns 1,280 shares of the scientific and technical instruments company's stock worth $38,000 after purchasing an additional 657 shares in the last quarter. Institutional investors own 88.12% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Citigroup reiterated a "neutral" rating and issued a $37.00 price target (up previously from $30.00) on shares of Cognex in a research note on Monday, July 14th. UBS Group increased their price target on Cognex from $53.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Robert W. Baird increased their price target on Cognex from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. TD Cowen upgraded Cognex from a "hold" rating to a "buy" rating and set a $35.00 price target for the company in a research note on Monday, April 28th. Finally, Needham & Company LLC increased their price target on Cognex from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.31.
Check Out Our Latest Stock Report on CGNX
Cognex Price Performance
Shares of NASDAQ:CGNX traded up $1.98 during trading on Wednesday, reaching $44.18. 2,445,944 shares of the company were exchanged, compared to its average volume of 2,110,738. The firm has a market capitalization of $7.42 billion, a PE ratio of 62.23 and a beta of 1.47. The business's fifty day simple moving average is $33.80 and its 200-day simple moving average is $31.86. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $44.21.
Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $249.09 million for the quarter, compared to analyst estimates of $246.70 million. Cognex had a net margin of 13.13% and a return on equity of 6.65%. Cognex's revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. On average, sell-side analysts anticipate that Cognex Corporation will post 0.61 EPS for the current fiscal year.
Cognex Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 14th. Cognex's dividend payout ratio (DPR) is 45.07%.
About Cognex
(
Free Report)
Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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