Kayne Anderson Rudnick Investment Management LLC boosted its position in Cognex Corporation (NASDAQ:CGNX) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 464,967 shares of the scientific and technical instruments company’s stock after buying an additional 3,583 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.54% of Cognex Corporation worth $51,277,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CGNX. Capstone Asset Management Co. lifted its holdings in Cognex Corporation by 3.0% in the second quarter. Capstone Asset Management Co. now owns 11,362 shares of the scientific and technical instruments company’s stock valued at $965,000 after buying an additional 330 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Cognex Corporation in the second quarter valued at $260,000. Creative Planning lifted its holdings in Cognex Corporation by 60.1% in the second quarter. Creative Planning now owns 6,876 shares of the scientific and technical instruments company’s stock valued at $584,000 after buying an additional 2,582 shares during the period. Meeder Asset Management Inc. acquired a new position in Cognex Corporation in the second quarter valued at $135,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Cognex Corporation by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 31,396 shares of the scientific and technical instruments company’s stock valued at $2,666,000 after buying an additional 1,324 shares during the period. Institutional investors and hedge funds own 85.51% of the company’s stock.
In related news, CEO Robert Willett sold 8,241 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $103.09, for a total value of $849,564.69. Following the sale, the chief executive officer now owns 8,241 shares in the company, valued at approximately $849,564.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Benjamin Miller sold 3,750 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $134.48, for a total transaction of $504,300.00. Following the completion of the sale, the director now owns 3,750 shares in the company, valued at approximately $504,300. The disclosure for this sale can be found here. Insiders have sold 158,991 shares of company stock worth $19,974,890 in the last quarter. Company insiders own 5.60% of the company’s stock.
Several equities analysts recently issued reports on the stock. Cowen and Company boosted their target price on shares of Cognex Corporation from $100.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Wolfe Research upgraded shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Canaccord Genuity boosted their target price on shares of Cognex Corporation from $95.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, October 31st. Robert W. Baird boosted their target price on shares of Cognex Corporation from $100.00 to $124.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $106.88.
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Shares of Cognex Corporation (NASDAQ:CGNX) traded down $0.16 during midday trading on Thursday, hitting $137.57. 815,200 shares of the stock traded hands, compared to its average volume of 742,216. Cognex Corporation has a 52-week low of $57.42 and a 52-week high of $140.94. The firm has a market capitalization of $11,925.57, a price-to-earnings ratio of 50.82 and a beta of 1.48.
Cognex Corporation’s stock is going to split on the morning of Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly created shares will be payable to shareholders after the market closes on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. Cognex Corporation had a net margin of 34.77% and a return on equity of 23.31%. The firm had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 75.6% compared to the same quarter last year. equities research analysts anticipate that Cognex Corporation will post 2.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.36 annualized dividend and a dividend yield of 0.26%. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. Cognex Corporation’s dividend payout ratio is currently 12.55%.
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.
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