GW&K Investment Management LLC Reduces Stock Position in Cognex Corporation $CGNX

Key Points

• GW&K Investment Management cut its Cognex stake by 6.1% in the fourth quarter, selling 99,430 shares and ending with 1,522,767 shares worth about $54.8 million.
• Cognex reported strong quarterly results, with EPS of $0.34 beating estimates of $0.25 and revenue rising 24.3% year over year to $268.44 million.
• Despite some insider selling, analysts remain generally bullish on CGNX, with a Moderate Buy consensus and an average price target of $70.43 versus the stock’s recent price around $61.32.

GW&K Investment Management LLC trimmed its stake in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,522,767 shares of the scientific and technical instruments company's stock after selling 99,430 shares during the period. GW&K Investment Management LLC owned about 0.91% of Cognex worth $54,790,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. REAP Financial Group LLC purchased a new position in Cognex in the 3rd quarter valued at approximately $27,000. Geneos Wealth Management Inc. boosted its position in Cognex by 402.2% during the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company's stock worth $27,000 after purchasing an additional 736 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Cognex by 74.8% during the third quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 327 shares in the last quarter. Miller Global Investments LLC acquired a new stake in Cognex in the fourth quarter valued at $39,000. Finally, Larson Financial Group LLC grew its holdings in Cognex by 202.7% in the fourth quarter. Larson Financial Group LLC now owns 1,105 shares of the scientific and technical instruments company's stock valued at $40,000 after purchasing an additional 740 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

Insider Activity at Cognex

In other Cognex news, VP Darren Marc Long sold 20,252 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total value of $1,343,517.68. Following the completion of the transaction, the vice president directly owned 3,990 shares in the company, valued at approximately $264,696.60. The trade was a 83.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Fennell sold 64,873 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $67.05, for a total value of $4,349,734.65. Following the transaction, the insider directly owned 11,263 shares in the company, valued at approximately $755,184.15. This represents a 85.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 224,847 shares of company stock valued at $14,975,098. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CGNX. The Goldman Sachs Group reaffirmed a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Cognex in a research note on Monday, May 11th. Robert W. Baird set a $72.00 price objective on shares of Cognex in a research note on Friday, May 8th. KeyCorp restated an "overweight" rating and set a $70.00 target price (up from $50.00) on shares of Cognex in a report on Friday, February 13th. Needham & Company LLC lifted their target price on shares of Cognex from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $70.43.

Cognex Stock Down 1.7%

Shares of NASDAQ:CGNX opened at $61.32 on Wednesday. The company has a market capitalization of $10.20 billion, a P/E ratio of 73.00 and a beta of 1.52. Cognex Corporation has a 52-week low of $29.22 and a 52-week high of $71.90. The stock's fifty day simple moving average is $58.89 and its 200-day simple moving average is $48.91.

Cognex (NASDAQ:CGNX - Get Free Report) last announced its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.09. Cognex had a net margin of 13.62% and a return on equity of 10.89%. The firm had revenue of $268.44 million during the quarter, compared to the consensus estimate of $245.98 million. During the same quarter in the previous year, the company posted $0.14 EPS. The firm's revenue for the quarter was up 24.3% on a year-over-year basis. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. On average, sell-side analysts anticipate that Cognex Corporation will post 1.41 earnings per share for the current year.

Cognex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Cognex's payout ratio is currently 40.48%.

Cognex Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company's product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.

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