Insider Selling: Cognex Corporation (NASDAQ:CGNX) CEO Sells 25,000 Shares of Stock

Cognex Corporation (NASDAQ:CGNX) CEO Robert Willett sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $103.37, for a total transaction of $2,584,250.00. Following the sale, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at $2,584,250. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Robert Willett also recently made the following trade(s):

  • On Monday, May 15th, Robert Willett sold 55,919 shares of Cognex Corporation stock. The shares were sold at an average price of $91.73, for a total transaction of $5,129,449.87.

Shares of Cognex Corporation (NASDAQ:CGNX) traded down 2.19% on Thursday, reaching $100.46. 324,566 shares of the company’s stock traded hands. Cognex Corporation has a 52 week low of $47.25 and a 52 week high of $110.69. The firm has a market capitalization of $8.70 billion, a P/E ratio of 45.89 and a beta of 1.43. The company’s 50-day moving average is $92.79 and its 200-day moving average is $85.02.

Cognex Corporation (NASDAQ:CGNX) last announced its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The business had revenue of $172.90 million for the quarter, compared to analyst estimates of $169.79 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Cognex Corporation’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Cognex Corporation will post $2.56 earnings per share for the current fiscal year.

Cognex Corporation declared that its Board of Directors has initiated a share buyback program on Monday, May 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, August 16th. Cognex Corporation’s dividend payout ratio (DPR) is currently 15.60%.

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A number of institutional investors have recently made changes to their positions in the company. Commerce Bank raised its position in shares of Cognex Corporation by 0.4% in the first quarter. Commerce Bank now owns 11,621 shares of the scientific and technical instruments company’s stock worth $975,000 after buying an additional 45 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of Cognex Corporation by 2.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock worth $170,000 after buying an additional 47 shares during the period. Sawtooth Solutions LLC raised its position in shares of Cognex Corporation by 1.3% in the second quarter. Sawtooth Solutions LLC now owns 4,009 shares of the scientific and technical instruments company’s stock worth $340,000 after buying an additional 51 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Cognex Corporation by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 14,830 shares of the scientific and technical instruments company’s stock worth $1,245,000 after buying an additional 66 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Cognex Corporation by 0.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,645 shares of the scientific and technical instruments company’s stock worth $1,074,000 after buying an additional 75 shares during the period. 87.13% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on CGNX shares. Zacks Investment Research raised shares of Cognex Corporation from a “sell” rating to a “buy” rating and set a $101.00 price target for the company in a report on Wednesday, May 3rd. Cowen and Company reaffirmed a “buy” rating and set a $100.00 price target on shares of Cognex Corporation in a report on Tuesday, July 11th. BidaskClub lowered shares of Cognex Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $80.00 price target (up from $65.00) on shares of Cognex Corporation in a report on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $82.75.

Cognex Corporation 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.

Insider Buying and Selling by Quarter for Cognex Corporation (NASDAQ:CGNX)

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