Westpac Banking Corp lifted its position in shares of Cognex Co. (NASDAQ:CGNX) by 113.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,254 shares of the scientific and technical instruments company’s stock after purchasing an additional 34,101 shares during the quarter. Westpac Banking Corp’s holdings in Cognex were worth $3,930,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of CGNX. AHL Partners LLP raised its position in Cognex by 0.8% in the 2nd quarter. AHL Partners LLP now owns 2,842 shares of the scientific and technical instruments company’s stock valued at $241,000 after buying an additional 23 shares during the last quarter. Stifel Financial Corp grew its stake in Cognex by 2.4% in the 2nd quarter. Stifel Financial Corp now owns 15,563 shares of the scientific and technical instruments company’s stock valued at $1,316,000 after purchasing an additional 364 shares during the period. LS Investment Advisors LLC grew its stake in Cognex by 5.1% in the 3rd quarter. LS Investment Advisors LLC now owns 8,996 shares of the scientific and technical instruments company’s stock valued at $992,000 after purchasing an additional 439 shares during the period. Intrust Bank NA grew its stake in Cognex by 7.7% in the 3rd quarter. Intrust Bank NA now owns 6,187 shares of the scientific and technical instruments company’s stock valued at $683,000 after purchasing an additional 441 shares during the period. Finally, FDx Advisors Inc. grew its stake in Cognex by 7.5% in the 3rd quarter. FDx Advisors Inc. now owns 6,416 shares of the scientific and technical instruments company’s stock valued at $708,000 after purchasing an additional 447 shares during the period. 45.66% of the stock is currently owned by institutional investors.
In related news, Director Patrick Alias sold 5,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $143.54, for a total transaction of $717,700.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 5.60% of the company’s stock.
A number of research analysts have issued reports on CGNX shares. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Canaccord Genuity increased their price target on Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, October 31st. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Cognex from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Wednesday, November 1st. Finally, Robert W. Baird increased their price target on Cognex from $50.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Cognex presently has a consensus rating of “Hold” and an average price target of $63.00.
Shares of Cognex Co. (NASDAQ CGNX) traded up $2.88 on Wednesday, reaching $58.05. The company had a trading volume of 2,710,000 shares, compared to its average volume of 1,690,000. The stock has a market cap of $10,050.00, a PE ratio of 42.68 and a beta of 1.44. Cognex Co. has a twelve month low of $34.33 and a twelve month high of $72.99.
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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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