Swiss National Bank Cuts Stake in Cognex Co. (NASDAQ:CGNX)

Swiss National Bank lowered its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,500 shares of the scientific and technical instruments company’s stock after selling 16,600 shares during the quarter. Swiss National Bank owned approximately 0.33% of Cognex worth $26,749,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of Cognex by 3.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 127,363 shares of the scientific and technical instruments company’s stock worth $6,111,000 after purchasing an additional 4,119 shares during the period. Ownership Capital B.V. boosted its holdings in shares of Cognex by 2.4% in the 2nd quarter. Ownership Capital B.V. now owns 882,901 shares of the scientific and technical instruments company’s stock worth $42,362,000 after purchasing an additional 20,521 shares during the period. Candriam Luxembourg S.C.A. boosted its holdings in shares of Cognex by 288.9% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 34,452 shares of the scientific and technical instruments company’s stock worth $1,646,000 after purchasing an additional 25,593 shares during the period. Stephens Investment Management Group LLC boosted its holdings in shares of Cognex by 1.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 916,459 shares of the scientific and technical instruments company’s stock worth $43,972,000 after purchasing an additional 15,667 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Cognex by 238.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 715,332 shares of the scientific and technical instruments company’s stock worth $33,878,000 after purchasing an additional 504,116 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Shares of CGNX stock opened at $45.04 on Thursday. Cognex Co. has a 52-week low of $34.88 and a 52-week high of $59.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.07 and a current ratio of 7.92. The firm has a market capitalization of $7.67 billion, a P/E ratio of 36.32, a P/E/G ratio of 3.49 and a beta of 2.08. The stock has a 50 day moving average price of $43.38 and a 200 day moving average price of $47.79.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. Cognex had a return on equity of 17.81% and a net margin of 26.03%. The firm had revenue of $199.00 million during the quarter, compared to analyst estimates of $194.65 million. During the same period last year, the company earned $0.31 EPS. Cognex’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Cognex Co. will post 0.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, August 15th. Cognex’s dividend payout ratio is currently 16.13%.

CGNX has been the subject of a number of recent research reports. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research upgraded Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Goldman Sachs Group cut Cognex from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $45.00 to $36.00 in a report on Tuesday, July 16th. Needham & Company LLC cut Cognex from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley dropped their target price on Cognex from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.60.

In related news, Director Dianne M. Parrotte sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $40,500.00. Following the completion of the sale, the director now directly owns 19,700 shares of the company’s stock, valued at approximately $886,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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