Stephens Investment Management Group LLC boosted its position in Cognex Co. (NASDAQ:CGNX) by 0.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 900,792 shares of the scientific and technical instruments company’s stock after buying an additional 1,895 shares during the period. Stephens Investment Management Group LLC’s holdings in Cognex were worth $45,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its position in shares of Cognex by 0.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 216,042 shares of the scientific and technical instruments company’s stock valued at $10,988,000 after acquiring an additional 1,250 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Cognex during the 1st quarter valued at $1,958,000. Stevens Capital Management LP bought a new stake in shares of Cognex during the 1st quarter valued at $813,000. Cornerstone Advisors Inc. lifted its position in shares of Cognex by 123.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,001 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 554 shares during the period. Finally, Texas Permanent School Fund lifted its position in shares of Cognex by 2.9% during the 1st quarter. Texas Permanent School Fund now owns 115,992 shares of the scientific and technical instruments company’s stock valued at $5,899,000 after acquiring an additional 3,312 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.
In other Cognex news, insider John J. Curran sold 50,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $49.01, for a total value of $2,450,500.00. Following the completion of the transaction, the insider now owns 12,500 shares of the company’s stock, valued at approximately $612,625. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Theodor Krantz sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the completion of the transaction, the director now directly owns 52,500 shares of the company’s stock, valued at approximately $2,791,950. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, April 29th. The scientific and technical instruments company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The company had revenue of $173.50 million during the quarter, compared to analysts’ expectations of $172.16 million. During the same quarter in the previous year, the firm earned $0.21 EPS. Cognex’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that Cognex Co. will post 1.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.05 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.20 dividend on an annualized basis and a yield of 0.44%. Cognex’s payout ratio is presently 16.13%.
A number of analysts have recently weighed in on the company. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Morgan Stanley set a $47.00 price target on Cognex and gave the stock a “hold” rating in a report on Friday, May 3rd. Zacks Investment Research raised Cognex from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Monday, February 11th. Needham & Company LLC cut Cognex from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Sanford C. Bernstein cut Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price target for the company. in a report on Tuesday, April 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Cognex has a consensus rating of “Hold” and an average target price of $52.20.
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Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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