UBS Asset Management Americas Inc. increased its position in Cognex Corp. (NASDAQ:CGNX) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 68,873 shares of the company’s stock after buying an additional 3,802 shares during the period. UBS Asset Management Americas Inc. owned about 0.08% of Cognex Corp. worth $2,968,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Cognex Corp. by 1.9% in the second quarter. Creative Planning now owns 3,669 shares of the company’s stock worth $158,000 after buying an additional 70 shares during the period. Stephens Inc. AR increased its position in shares of Cognex Corp. by 3.3% in the second quarter. Stephens Inc. AR now owns 2,839 shares of the company’s stock worth $122,000 after buying an additional 92 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cognex Corp. by 4.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,740 shares of the company’s stock worth $118,000 after buying an additional 121 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cognex Corp. by 2.8% in the second quarter. JPMorgan Chase & Co. now owns 5,798 shares of the company’s stock worth $250,000 after buying an additional 156 shares in the last quarter. Finally, State Treasurer State of Michigan increased its position in shares of Cognex Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 34,100 shares of the company’s stock worth $1,470,000 after buying an additional 200 shares in the last quarter. 91.42% of the stock is currently owned by institutional investors.
Cognex Corp. (NASDAQ:CGNX) traded up 0.97% during mid-day trading on Wednesday, hitting $52.02. The stock had a trading volume of 60,717 shares. Cognex Corp. has a 52 week low of $28.01 and a 52 week high of $53.46. The stock’s 50-day moving average is $50.36 and its 200 day moving average is $43.95. The company has a market capitalization of $4.43 billion, a P/E ratio of 25.07 and a beta of 1.47.
Cognex Corp. (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.07. The company had revenue of $147.27 million for the quarter, compared to the consensus estimate of $138.11 million. Cognex Corp. had a return on equity of 11.44% and a net margin of 40.22%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. Equities analysts forecast that Cognex Corp. will post $1.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, August 31st. Cognex Corp.’s dividend payout ratio (DPR) is currently 14.49%.
A number of research analysts have recently weighed in on the company. Canaccord Genuity lifted their price target on Cognex Corp. from $45.00 to $49.00 and gave the company a “hold” rating in a report on Tuesday, August 2nd. Credit Agricole SA lifted their price target on Cognex Corp. from $37.00 to $55.00 and gave the company an “underperform” rating in a report on Tuesday, August 2nd. Finally, Needham & Company LLC lifted their price target on Cognex Corp. from $42.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $46.90.
In related news, CEO Robert Willett sold 125,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $47.93, for a total transaction of $5,991,250.00. Following the sale, the chief executive officer now owns 25,000 shares of the company’s stock, valued at approximately $1,198,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Morin sold 14,040 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $50.21, for a total value of $704,948.40. Following the sale, the chief financial officer now directly owns 16,038 shares in the company, valued at approximately $805,267.98. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.
Cognex Corp. Company 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’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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