Peterson Wealth Services Has $1.95 Million Stake in Cognex Corporation $CGNX

Peterson Wealth Services raised its position in shares of Cognex Corporation (NASDAQ:CGNX) by 1,004.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,075 shares of the scientific and technical instruments company’s stock after acquiring an additional 39,175 shares during the quarter. Peterson Wealth Services’ holdings in Cognex were worth $1,951,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CGNX. Atlantic Union Bankshares Corp boosted its position in shares of Cognex by 264.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 10,819 shares of the scientific and technical instruments company’s stock valued at $490,000 after purchasing an additional 7,850 shares in the last quarter. IMC Chicago LLC acquired a new position in Cognex in the third quarter valued at approximately $5,761,000. Jones Financial Companies Lllp lifted its stake in Cognex by 73.7% in the third quarter. Jones Financial Companies Lllp now owns 2,703 shares of the scientific and technical instruments company’s stock valued at $124,000 after buying an additional 1,147 shares during the period. State of Wyoming boosted its holdings in shares of Cognex by 179.8% during the 3rd quarter. State of Wyoming now owns 8,555 shares of the scientific and technical instruments company’s stock worth $388,000 after buying an additional 5,497 shares in the last quarter. Finally, Mutual Advisors LLC acquired a new stake in shares of Cognex during the 3rd quarter worth approximately $1,313,000. 88.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. DA Davidson set a $38.00 target price on shares of Cognex and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Truist Financial dropped their price objective on shares of Cognex from $45.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Needham & Company LLC raised their target price on Cognex from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group raised Cognex from a “sell” rating to a “buy” rating and upped their price target for the stock from $42.00 to $50.00 in a research note on Tuesday, December 16th. Finally, Robert W. Baird set a $45.00 price target on Cognex in a report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.64.

Cognex Price Performance

CGNX opened at $39.76 on Tuesday. Cognex Corporation has a fifty-two week low of $22.67 and a fifty-two week high of $49.76. The firm has a market capitalization of $6.66 billion, a PE ratio of 62.13 and a beta of 1.53. The company’s 50-day moving average is $38.08 and its 200 day moving average is $40.85.

About Cognex

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.