CIBC Asset Management Inc Raises Position in Cognex Co. (CGNX)

CIBC Asset Management Inc increased its stake in shares of Cognex Co. (NASDAQ:CGNX) by 100.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,926 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,963 shares during the period. CIBC Asset Management Inc’s holdings in Cognex were worth $362,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CGNX. Harding Loevner LP raised its position in shares of Cognex by 50.1% during the 3rd quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock worth $135,890,000 after purchasing an additional 947,119 shares during the last quarter. Congress Asset Management Co. MA raised its position in shares of Cognex by 87.7% during the 4th quarter. Congress Asset Management Co. MA now owns 1,665,724 shares of the scientific and technical instruments company’s stock worth $101,876,000 after purchasing an additional 778,204 shares during the last quarter. American Capital Management Inc. raised its position in shares of Cognex by 69.2% during the 4th quarter. American Capital Management Inc. now owns 1,606,199 shares of the scientific and technical instruments company’s stock worth $98,235,000 after purchasing an additional 657,107 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Cognex by 101.7% during the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 1,122,247 shares of the scientific and technical instruments company’s stock worth $68,636,000 after purchasing an additional 565,975 shares during the last quarter. Finally, Hermes Investment Management Ltd. raised its position in shares of Cognex by 64.0% during the 4th quarter. Hermes Investment Management Ltd. now owns 1,354,547 shares of the scientific and technical instruments company’s stock worth $82,844,000 after purchasing an additional 528,786 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Several brokerages recently issued reports on CGNX. JPMorgan Chase & Co. downgraded Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price objective for the company. in a research report on Wednesday, November 8th. Zacks Investment Research downgraded Cognex from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 2nd. BidaskClub cut shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Deutsche Bank set a $80.00 target price on shares of Cognex and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Robert W. Baird lifted their target price on shares of Cognex from $50.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Cognex presently has a consensus rating of “Hold” and an average target price of $63.00.

Shares of Cognex Co. (NASDAQ:CGNX) opened at $55.17 on Wednesday. The company has a market cap of $9,505.48, a P/E ratio of 40.72 and a beta of 1.44. Cognex Co. has a 12 month low of $34.33 and a 12 month high of $72.99.

In other Cognex news, Director Patrick Alias sold 5,000 shares of Cognex stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $143.54, for a total value of $717,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is currently owned by insiders.

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About Cognex

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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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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