Riverbridge Partners LLC lessened its holdings in Cognex Corporation (NASDAQ:CGNX - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,240,159 shares of the scientific and technical instruments company's stock after selling 93,463 shares during the period. Riverbridge Partners LLC owned 0.73% of Cognex worth $36,994,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Cognex by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,427,756 shares of the scientific and technical instruments company's stock valued at $51,199,000 after purchasing an additional 42,292 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Cognex by 75.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,870 shares of the scientific and technical instruments company's stock valued at $102,000 after purchasing an additional 1,231 shares during the last quarter. Swiss National Bank lifted its stake in shares of Cognex by 0.7% in the 4th quarter. Swiss National Bank now owns 337,300 shares of the scientific and technical instruments company's stock valued at $12,096,000 after purchasing an additional 2,200 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Cognex by 7,515.1% in the 1st quarter. GAMMA Investing LLC now owns 31,679 shares of the scientific and technical instruments company's stock valued at $945,000 after purchasing an additional 31,263 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Cognex in the 4th quarter valued at $1,215,000. Institutional investors and hedge funds own 88.12% of the company's stock.
Cognex Stock Performance
Shares of NASDAQ:CGNX traded up $0.22 on Monday, hitting $29.83. 1,550,784 shares of the company were exchanged, compared to its average volume of 1,612,716. The company's 50 day moving average price is $28.91 and its two-hundred day moving average price is $32.42. Cognex Corporation has a one year low of $22.67 and a one year high of $53.13. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 43.87 and a beta of 1.47.
Cognex Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. Cognex's dividend payout ratio (DPR) is currently 47.06%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CGNX. UBS Group reduced their price objective on shares of Cognex from $56.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Stephens reiterated an "overweight" rating and issued a $55.00 target price on shares of Cognex in a report on Wednesday, March 12th. TD Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating and set a $35.00 target price on the stock in a report on Monday, April 28th. Needham & Company LLC lifted their target price on shares of Cognex from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.17.
Get Our Latest Report on CGNX
Cognex Company Profile
(
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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