Parallel Advisors LLC lifted its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 100.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,883 shares of the scientific and technical instruments company’s stock after buying an additional 942 shares during the quarter. Parallel Advisors LLC’s holdings in Cognex were worth $115,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. YorkBridge Wealth Partners LLC lifted its position in shares of Cognex by 76.9% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock worth $125,000 after purchasing an additional 963 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Cognex in the fourth quarter worth $126,000. Strs Ohio bought a new stake in shares of Cognex in the fourth quarter worth $133,000. Clear Perspective Advisors LLC lifted its position in shares of Cognex by 100.0% in the fourth quarter. Clear Perspective Advisors LLC now owns 2,200 shares of the scientific and technical instruments company’s stock worth $135,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Cognex by 157.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,597 shares of the scientific and technical instruments company’s stock worth $159,000 after purchasing an additional 1,587 shares in the last quarter. Institutional investors own 81.97% of the company’s stock.
CGNX has been the topic of several analyst reports. Zacks Investment Research lowered shares of Cognex from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 2nd. BidaskClub downgraded shares of Cognex from a “buy” rating to a “hold” rating in a report on Friday, January 26th. ValuEngine downgraded shares of Cognex from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Finally, Deutsche Bank set a $80.00 price objective on shares of Cognex and gave the company a “buy” rating in a report on Friday, January 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.83.
Cognex Co. (NASDAQ:CGNX) traded down $0.11 on Wednesday, reaching $54.82. 1,957,256 shares of the company traded hands, compared to its average volume of 2,460,000. The company has a market capitalization of $9,510.00, a PE ratio of 55.94 and a beta of 1.54. Cognex Co. has a 1-year low of $38.67 and a 1-year high of $72.99.
Cognex (NASDAQ:CGNX) last posted its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $180.37 million during the quarter, compared to analysts’ expectations of $178.75 million. Cognex had a net margin of 23.69% and a return on equity of 24.23%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. analysts expect that Cognex Co. will post 1.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be issued a $0.045 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.18 dividend on an annualized basis and a yield of 0.33%. Cognex’s dividend payout ratio (DPR) is presently 18.37%.
Cognex announced that its board has authorized a share repurchase plan on Thursday, February 15th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In related news, Director Anthony Sun sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $56.49, for a total value of $564,900.00. Following the completion of the transaction, the director now owns 294,262 shares in the company, valued at approximately $16,622,860.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.60% of the stock is owned by company insiders.
Cognex 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 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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