GW&K Investment Management LLC boosted its stake in Cognex Co. (NASDAQ:CGNX) by 14.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 749,702 shares of the scientific and technical instruments company’s stock after purchasing an additional 92,251 shares during the quarter. GW&K Investment Management LLC owned about 0.44% of Cognex worth $36,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. raised its stake in shares of Cognex by 5.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 65,186 shares of the scientific and technical instruments company’s stock worth $3,315,000 after acquiring an additional 3,657 shares in the last quarter. Schwab Charitable Fund purchased a new position in shares of Cognex during the second quarter worth approximately $211,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Cognex during the second quarter worth approximately $1,273,000. Nisa Investment Advisors LLC raised its stake in shares of Cognex by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 33,270 shares of the scientific and technical instruments company’s stock worth $1,596,000 after acquiring an additional 270 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of Cognex by 39.9% during the second quarter. IFM Investors Pty Ltd now owns 14,049 shares of the scientific and technical instruments company’s stock worth $674,000 after acquiring an additional 4,008 shares in the last quarter. 91.98% of the stock is currently owned by institutional investors and hedge funds.
In other Cognex news, Director Dianne M. Parrotte sold 900 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total value of $40,500.00. Following the completion of the transaction, the director now owns 19,700 shares of the company’s stock, valued at approximately $886,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Sheila Marie Dipalma sold 79,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $51.81, for a total value of $4,118,895.00. Following the completion of the transaction, the senior vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $518,100. The disclosure for this sale can be found here. In the last three months, insiders sold 153,808 shares of company stock valued at $7,993,210. 5.60% of the stock is owned by insiders.
Shares of Cognex stock traded down $0.35 on Friday, hitting $53.34. The stock had a trading volume of 889,500 shares, compared to its average volume of 1,163,167. The stock’s 50-day simple moving average is $50.16 and its two-hundred day simple moving average is $46.56. The company has a quick ratio of 6.90, a current ratio of 7.71 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 43.02 and a beta of 2.10. Cognex Co. has a one year low of $34.88 and a one year high of $57.31.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. Cognex had a return on equity of 14.21% and a net margin of 22.55%. The firm had revenue of $183.33 million during the quarter, compared to analyst estimates of $177.78 million. During the same quarter in the previous year, the firm earned $0.45 EPS. Cognex’s quarterly revenue was down 21.1% compared to the same quarter last year. As a group, equities analysts predict that Cognex Co. will post 0.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.055 dividend. This is a positive change from Cognex’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, November 14th. This represents a $0.22 dividend on an annualized basis and a yield of 0.41%. Cognex’s payout ratio is 16.13%.
Several research firms have commented on CGNX. Cowen reissued an “outperform” rating and set a $60.00 price target (up from $50.00) on shares of Cognex in a research note on Monday, September 23rd. Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. BidaskClub raised shares of Cognex from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Goldman Sachs Group downgraded shares of Cognex from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $45.00 to $36.00 in a research note on Tuesday, July 16th. Finally, Morgan Stanley set a $47.00 price target on shares of Cognex and gave the stock a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $50.45.
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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