Dimensional Fund Advisors LP boosted its position in Cognex Corp. (NASDAQ:CGNX) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 904,490 shares of the company’s stock after buying an additional 4,238 shares during the period. Dimensional Fund Advisors LP owned about 1.06% of Cognex Corp. worth $38,981,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CGNX. AXA boosted its stake in Cognex Corp. by 156.4% in the first quarter. AXA now owns 431,884 shares of the company’s stock worth $16,822,000 after buying an additional 263,460 shares during the period. Henderson Group PLC raised its position in Cognex Corp. by 28.4% in the second quarter. Henderson Group PLC now owns 878,387 shares of the company’s stock worth $37,866,000 after buying an additional 194,391 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Cognex Corp. by 96.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 393,027 shares of the company’s stock worth $15,308,000 after buying an additional 193,027 shares in the last quarter. Hermes Investment Management Ltd. raised its position in Cognex Corp. by 16.8% in the second quarter. Hermes Investment Management Ltd. now owns 1,234,645 shares of the company’s stock worth $53,213,000 after buying an additional 177,816 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Cognex Corp. during the second quarter worth about $7,290,000. Institutional investors and hedge funds own 91.43% of the company’s stock.
Shares of Cognex Corp. (NASDAQ:CGNX) opened at 51.90 on Tuesday. The firm has a 50-day moving average price of $50.86 and a 200-day moving average price of $44.75. Cognex Corp. has a one year low of $28.01 and a one year high of $53.46. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 25.01 and a beta of 1.46.
Cognex Corp. (NASDAQ:CGNX) last issued its earnings results on Monday, August 1st. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $147.27 million for the quarter, compared to analyst estimates of $138.11 million. Cognex Corp. had a net margin of 40.22% and a return on equity of 11.44%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. Analysts anticipate that Cognex Corp. will post $1.39 earnings per share for the current fiscal year.
CGNX has been the topic of a number of research reports. Canaccord Genuity set a $49.00 price target on Cognex Corp. and gave the stock a “hold” rating in a report on Tuesday, September 20th. Credit Agricole SA raised their price target on Cognex Corp. from $37.00 to $55.00 and gave the stock an “underperform” rating in a report on Tuesday, August 2nd. Finally, Needham & Company LLC raised their price target on Cognex Corp. from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Cognex Corp. currently has an average rating of “Hold” and a consensus price target of $46.90.
In other news, CEO Robert Willett sold 125,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $47.93, for a total value of $5,991,250.00. Following the sale, the chief executive officer now owns 25,000 shares in the company, valued at approximately $1,198,250. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theodor Krantz sold 20,000 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the director now owns 25,850 shares in the company, valued at approximately $1,292,500. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.
About Cognex Corp.
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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