Profund Advisors LLC Sells 2,891 Shares of Cognex Corporation (CGNX)
Profund Advisors LLC trimmed its position in shares of Cognex Corporation (NASDAQ:CGNX) by 23.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,248 shares of the scientific and technical instruments company’s stock after selling 2,891 shares during the period. Profund Advisors LLC’s holdings in Cognex Corporation were worth $785,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Cognex Corporation by 6.1% during the first quarter. FMR LLC now owns 885,949 shares of the scientific and technical instruments company’s stock worth $74,375,000 after acquiring an additional 51,144 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Cognex Corporation by 16,264.7% during the first quarter. BlackRock Inc. now owns 6,656,024 shares of the scientific and technical instruments company’s stock worth $558,773,000 after acquiring an additional 6,615,351 shares in the last quarter. Airain ltd purchased a new stake in shares of Cognex Corporation during the second quarter worth $1,074,000. Handelsinvest Investeringsforvaltning raised its holdings in shares of Cognex Corporation by 22.9% during the second quarter. Handelsinvest Investeringsforvaltning now owns 93,400 shares of the scientific and technical instruments company’s stock worth $7,930,000 after acquiring an additional 17,400 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Cognex Corporation by 69.9% during the first quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after acquiring an additional 650 shares in the last quarter. Institutional investors and hedge funds own 87.25% of the company’s stock.
In other Cognex Corporation news, Director Bruce Robinson J sold 7,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total transaction of $745,500.00. Following the sale, the director now directly owns 5,625 shares of the company’s stock, valued at approximately $599,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total transaction of $513,350.00. Following the sale, the director now directly owns 6,000 shares in the company, valued at $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 over the last three months. Insiders own 5.60% of the company’s stock.
Cognex Corporation (CGNX) opened at 113.43 on Monday. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 51.82 and a beta of 1.40. Cognex Corporation has a 12-month low of $49.68 and a 12-month 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.
Cognex Corporation (NASDAQ:CGNX) last issued its quarterly earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm had revenue of $172.90 million for the quarter, compared to analysts’ expectations of $169.79 million. During the same period in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts expect that Cognex Corporation will post $2.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a dividend of $0.085 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.34 annualized dividend and a yield of 0.30%. Cognex Corporation’s dividend payout ratio (DPR) is presently 15.60%.
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Several brokerages recently issued reports on CGNX. Cowen and Company reiterated a “buy” rating and set a $100.00 price objective on shares of Cognex Corporation in a report on Tuesday, July 11th. Wolfe Research started coverage on Cognex Corporation in a report on Tuesday, July 11th. They set a “peer perform” rating on the stock. Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, July 4th. Finally, BidaskClub lowered Cognex Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $82.75.
About Cognex Corporation
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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