Victory Capital Management Inc. grew its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 623.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,580 shares of the scientific and technical instruments company’s stock after acquiring an additional 95,288 shares during the period. Victory Capital Management Inc. owned 0.13% of Cognex Corporation worth $12,195,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. bought a new stake in Cognex Corporation in the second quarter worth $102,000. Huntington National Bank boosted its holdings in Cognex Corporation by 67.3% in the third quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock worth $151,000 after purchasing an additional 550 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Cognex Corporation in the second quarter worth $135,000. IFP Advisors Inc boosted its holdings in Cognex Corporation by 46.8% in the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock worth $163,000 after purchasing an additional 612 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in Cognex Corporation by 2.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock worth $170,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.
Cognex Corporation (NASDAQ:CGNX) opened at $137.50 on Tuesday. The firm has a market cap of $11,806.95, a price-to-earnings ratio of 50.32 and a beta of 1.48. Cognex Corporation has a 52-week low of $55.71 and a 52-week high of $138.61.
Shares of Cognex Corporation are set to split on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly created shares will be issued to shareholders after the closing bell on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.09. The business had revenue of $259.74 million during the quarter, compared to analyst estimates of $255.95 million. Cognex Corporation had a net margin of 34.77% and a return on equity of 23.31%. The firm’s revenue for the quarter was up 75.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. equities research analysts anticipate that Cognex Corporation will post 2.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, November 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.26%. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. Cognex Corporation’s dividend payout ratio is currently 12.55%.
In other news, CEO Robert Willett sold 8,241 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $103.09, for a total transaction of $849,564.69. Following the completion of the transaction, the chief executive officer now owns 8,241 shares of the company’s stock, valued at $849,564.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodor Krantz sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the transaction, the director now directly owns 26,250 shares of the company’s stock, valued at approximately $3,518,812.50. The disclosure for this sale can be found here. Insiders have sold 158,991 shares of company stock valued at $19,974,890 in the last ninety days. 5.60% of the stock is owned by company insiders.
A number of equities research analysts recently issued reports on CGNX shares. Cowen and Company reiterated an “outperform” rating and issued a $135.00 price objective (up from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. Canaccord Genuity upped their price objective on shares of Cognex Corporation from $95.00 to $120.00 and gave the stock a “hold” rating in a report on Tuesday, October 31st. Wolfe Research upgraded shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Zacks Investment Research upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Wednesday, November 1st. Finally, Robert W. Baird upped their price objective on shares of Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $106.88.
Cognex Corporation Profile
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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