Pacer Advisors Inc. Increases Position in Cognex Corporation (CGNX)
Pacer Advisors Inc. boosted its position in shares of Cognex Corporation (NASDAQ:CGNX) by 13.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,765 shares of the scientific and technical instruments company’s stock after buying an additional 1,540 shares during the period. Pacer Advisors Inc.’s holdings in Cognex Corporation were worth $1,084,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Utah Retirement Systems boosted its stake in shares of Cognex Corporation by 2.7% in the second quarter. Utah Retirement Systems now owns 15,200 shares of the scientific and technical instruments company’s stock worth $1,290,000 after buying an additional 400 shares in the last quarter. Airain ltd purchased a new stake in shares of Cognex Corporation during the second quarter worth about $1,074,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Cognex Corporation by 3.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 105,039 shares of the scientific and technical instruments company’s stock worth $8,919,000 after buying an additional 3,846 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Cognex Corporation by 24.8% in the second quarter. Prudential Financial Inc. now owns 427,606 shares of the scientific and technical instruments company’s stock worth $36,303,000 after buying an additional 84,976 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Cognex Corporation during the second quarter worth about $31,281,000. Institutional investors and hedge funds own 87.30% of the company’s stock.
Shares of Cognex Corporation (CGNX) opened at 105.47 on Tuesday. Cognex Corporation has a 52 week low of $47.25 and a 52 week high of $110.69. The firm has a 50-day moving average price of $97.23 and a 200 day moving average price of $87.88. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 48.18 and a beta of 1.43.
Cognex Corporation (NASDAQ:CGNX) last announced its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The business had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $169.79 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. On average, analysts forecast that Cognex Corporation will post $2.56 EPS for the current fiscal year.
Cognex Corporation announced that its board has approved a stock repurchase plan on Monday, May 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.34 annualized dividend and a dividend yield of 0.32%. Cognex Corporation’s dividend payout ratio is presently 15.60%.
TRADEMARK VIOLATION WARNING: “Pacer Advisors Inc. Increases Position in Cognex Corporation (CGNX)” was first published by Watch List News and is the property of of Watch List News. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://www.watchlistnews.com/pacer-advisors-inc-increases-position-in-cognex-corporation-cgnx/1529521.html.
A number of brokerages recently issued reports on CGNX. Wolfe Research upgraded Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Cowen and Company restated an “outperform” rating and issued a $135.00 price objective (up from $100.00) on shares of Cognex Corporation in a research note on Tuesday, August 8th. BidaskClub upgraded Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $82.75.
In related news, Director Jerry A. Schneider sold 5,000 shares of the 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 completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at $616,020. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Theodor Krantz sold 7,500 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $96.09, for a total value of $720,675.00. Following the completion of the sale, the director now directly owns 26,250 shares of the company’s stock, valued at approximately $2,522,362.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,250 shares of company stock valued at $12,661,351. Insiders own 5.60% of the company’s stock.
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.
Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Corporation (NASDAQ:CGNX).
Receive News & Ratings for Cognex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.