Disciplined Growth Investors Inc. MN lowered its stake in Cognex Co. (NASDAQ:CGNX) by 47.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 423,570 shares of the scientific and technical instruments company’s stock after selling 378,705 shares during the quarter. Disciplined Growth Investors Inc. MN owned about 0.49% of Cognex worth $46,711,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in Cognex by 6.0% during the second quarter. Janney Montgomery Scott LLC now owns 9,559 shares of the scientific and technical instruments company’s stock valued at $812,000 after buying an additional 541 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Cognex by 1.3% during the second quarter. Great West Life Assurance Co. Can now owns 51,795 shares of the scientific and technical instruments company’s stock valued at $4,395,000 after buying an additional 664 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Cognex during the second quarter valued at about $102,000. IFP Advisors Inc lifted its stake in Cognex by 46.8% during the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock valued at $163,000 after buying an additional 612 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Cognex during the second quarter valued at about $4,432,000. 84.25% of the stock is owned by institutional investors and hedge funds.
Cognex Co. (NASDAQ CGNX) opened at $64.38 on Monday. Cognex Co. has a twelve month low of $31.18 and a twelve month high of $72.99. The company has a market capitalization of $11,148.89, a P/E ratio of 47.51 and a beta of 1.50.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The company had revenue of $259.74 million for the quarter, compared to the consensus estimate of $255.95 million. During the same quarter last year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 75.6% compared to the same quarter last year. equities research analysts expect that Cognex Co. will post 1.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a $0.045 dividend. The ex-dividend date was Thursday, November 16th. This represents a $0.18 annualized dividend and a yield of 0.28%. Cognex’s dividend payout ratio (DPR) is currently 13.28%.
In related news, Director Jeffrey Benjamin Miller sold 7,500 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $124.23, for a total value of $931,725.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick Alias sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $111.31, for a total value of $556,550.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $556,550. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,750 shares of company stock valued at $19,097,525. 5.60% of the stock is owned by company insiders.
A number of research firms have commented on CGNX. Wolfe Research raised shares of Cognex from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. BidaskClub lowered shares of Cognex from a “buy” rating to a “hold” rating in a research note on Thursday. Canaccord Genuity upped their target price on Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a report on Tuesday, October 31st. Robert W. Baird upped their target price on Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.17.
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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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