WCM Investment Management LLC Acquires Shares of 444,983 Cognex Corporation $CGNX

WCM Investment Management LLC acquired a new stake in shares of Cognex Corporation (NASDAQ:CGNX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 444,983 shares of the scientific and technical instruments company’s stock, valued at approximately $20,269,000.

A number of other institutional investors also recently modified their holdings of the company. Quent Capital LLC purchased a new position in Cognex during the 3rd quarter valued at about $26,000. First Horizon Corp bought a new stake in shares of Cognex in the 3rd quarter worth approximately $38,000. TD Waterhouse Canada Inc. bought a new stake in shares of Cognex in the 2nd quarter worth approximately $29,000. Penserra Capital Management LLC purchased a new position in shares of Cognex during the second quarter valued at approximately $29,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Cognex by 402.2% during the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 736 shares in the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Stock Performance

Shares of 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’s 50-day simple moving average is $38.08 and its two-hundred day simple moving average is $40.85. The stock has a market cap of $6.66 billion, a PE ratio of 62.13 and a beta of 1.53.

Analyst Ratings Changes

Several research firms recently weighed in on CGNX. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $35.00 price target (down previously from $45.00) on shares of Cognex in a report on Wednesday, December 3rd. Barclays set a $54.00 target price on shares of Cognex and gave the company an “overweight” rating in a research note on Monday, January 12th. Robert W. Baird set a $45.00 price target on shares of Cognex in a research note on Friday, October 31st. Truist Financial cut their price objective on Cognex from $45.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cognex in a report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cognex has a consensus rating of “Hold” and a consensus target price of $45.64.

Cognex Company Profile

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.