Vanguard Group Inc. Has $571.74 Million Position in Cognex Corporation (CGNX)
Vanguard Group Inc. increased its position in shares of Cognex Corporation (NASDAQ:CGNX) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,734,216 shares of the scientific and technical instruments company’s stock after buying an additional 159,355 shares during the period. Vanguard Group Inc. owned about 7.78% of Cognex Corporation worth $571,735,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in CGNX. GSA Capital Partners LLP acquired a new position in Cognex Corporation in the 2nd quarter worth $597,000. UBS Asset Management Americas Inc. boosted its position in Cognex Corporation by 25.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 60,543 shares of the scientific and technical instruments company’s stock valued at $5,140,000 after buying an additional 12,292 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Cognex Corporation by 1.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 70,417 shares of the scientific and technical instruments company’s stock valued at $5,978,000 after buying an additional 1,294 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in Cognex Corporation by 1.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 69,278 shares of the scientific and technical instruments company’s stock valued at $5,881,000 after buying an additional 1,150 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Cognex Corporation by 134.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 11,799 shares of the scientific and technical instruments company’s stock valued at $1,001,000 after buying an additional 6,777 shares during the last quarter. 87.25% of the stock is currently owned by hedge funds and other institutional investors.
Cognex Corporation (NASDAQ CGNX) opened at 110.28 on Monday. Cognex Corporation has a 12 month low of $49.68 and a 12 month high of $115.35. The stock’s 50 day moving average is $105.58 and its 200 day moving average is $92.16. The company has a market cap of $9.55 billion, a PE ratio of 50.38 and a beta of 1.42.
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 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 company had revenue of $172.90 million during the quarter, compared to analyst estimates of $169.79 million. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts predict that Cognex Corporation will post $2.55 earnings per share for the current year.
A number of analysts have recently issued reports on CGNX shares. Cowen and Company reaffirmed a “buy” rating and set a $100.00 target price on shares of Cognex Corporation in a research report on Tuesday, July 11th. BidaskClub cut Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Wolfe Research raised Cognex Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Finally, Zacks Investment Research downgraded Cognex Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $82.75.
In related news, Director Jerry A. Schneider sold 5,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $102.67, for a total transaction of $513,350.00. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $616,020. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce Robinson J sold 7,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total transaction of $745,500.00. Following the transaction, the director now owns 5,625 shares of the company’s stock, valued at $599,062.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,750 shares of company stock worth $13,242,726. 5.60% of the stock is currently owned by corporate insiders.
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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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