California Public Employees Retirement System increased its stake in shares of Cognex Co. (NASDAQ:CGNX) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,817 shares of the scientific and technical instruments company’s stock after purchasing an additional 13,717 shares during the period. California Public Employees Retirement System owned 0.25% of Cognex worth $24,021,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in Cognex by 3.5% in the 2nd quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock valued at $584,711,000 after buying an additional 231,014 shares during the last quarter. Vanguard Group Inc. boosted its position in Cognex by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,734,216 shares of the scientific and technical instruments company’s stock valued at $571,735,000 after buying an additional 159,355 shares during the last quarter. Harding Loevner LP raised its stake in Cognex by 50.1% during the third quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock worth $135,890,000 after acquiring an additional 947,119 shares during the period. Ameriprise Financial Inc. raised its stake in Cognex by 126.7% during the second quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock worth $198,864,000 after acquiring an additional 1,309,047 shares during the period. Finally, State Street Corp raised its stake in Cognex by 2.2% during the second quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock worth $184,153,000 after acquiring an additional 45,840 shares during the period. 42.10% of the stock is owned by institutional investors.
In other Cognex news, Director Jeffrey Benjamin Miller sold 7,500 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $124.23, for a total value of $931,725.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Willett sold 100,000 shares of Cognex stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $127.19, for a total transaction of $12,719,000.00. Following the sale, the chief executive officer now owns 100,000 shares of the company’s stock, valued at approximately $12,719,000. The disclosure for this sale can be found here. Insiders have sold a total of 143,750 shares of company stock valued at $18,540,975 over the last three months. 5.60% of the stock is currently owned by insiders.
Shares of Cognex Co. (NASDAQ:CGNX) traded up $0.02 during trading on Thursday, hitting $67.04. 976,648 shares of the stock traded hands, compared to its average volume of 2,240,000. Cognex Co. has a 1-year low of $31.91 and a 1-year high of $72.99. The firm has a market cap of $11,610.00, a price-to-earnings ratio of 49.29 and a beta of 1.50.
Cognex (NASDAQ:CGNX) last issued its earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The business had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. During the same period in the previous year, the business earned $0.31 EPS. The firm’s revenue was up 75.6% on a year-over-year basis. equities research analysts anticipate that Cognex Co. will post 1.39 EPS for the current year.
CGNX has been the topic of several research reports. Zacks Investment Research lowered shares of Cognex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Robert W. Baird increased their price objective on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Canaccord Genuity raised their target price on shares of Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, October 31st. JPMorgan Chase & Co. cut shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 target price for the company. in a report on Wednesday, November 8th. Finally, BidaskClub cut shares of Cognex from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus 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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