Stephens Investment Management Group LLC Purchases 184,774 Shares of Cognex Co. (NASDAQ:CGNX)

Stephens Investment Management Group LLC increased its holdings in Cognex Co. (NASDAQ:CGNXFree Report) by 28.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 826,864 shares of the scientific and technical instruments company’s stock after acquiring an additional 184,774 shares during the quarter. Stephens Investment Management Group LLC owned about 0.48% of Cognex worth $34,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its stake in Cognex by 17.8% in the third quarter. Lazard Asset Management LLC now owns 5,536,355 shares of the scientific and technical instruments company’s stock worth $234,962,000 after acquiring an additional 837,487 shares during the period. Impax Asset Management Group plc lifted its position in Cognex by 1.1% during the fourth quarter. Impax Asset Management Group plc now owns 2,842,978 shares of the scientific and technical instruments company’s stock valued at $118,666,000 after buying an additional 31,483 shares during the period. Invesco Ltd. lifted its position in Cognex by 10.2% during the third quarter. Invesco Ltd. now owns 2,082,608 shares of the scientific and technical instruments company’s stock valued at $88,386,000 after buying an additional 192,206 shares during the period. Nordea Investment Management AB lifted its position in Cognex by 156.5% during the fourth quarter. Nordea Investment Management AB now owns 2,065,693 shares of the scientific and technical instruments company’s stock valued at $86,862,000 after buying an additional 1,260,282 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Cognex by 2.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,002,798 shares of the scientific and technical instruments company’s stock valued at $83,597,000 after buying an additional 52,672 shares during the period. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Insider Buying and Selling at Cognex

In other Cognex news, EVP Carl Gerst sold 6,782 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $40.54, for a total transaction of $274,942.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Cognex Price Performance

NASDAQ CGNX traded down $2.95 during trading hours on Tuesday, hitting $42.28. The company’s stock had a trading volume of 1,764,140 shares, compared to its average volume of 1,402,218. Cognex Co. has a 12 month low of $34.28 and a 12 month high of $59.51. The company’s 50 day simple moving average is $43.37 and its two-hundred day simple moving average is $40.56. The company has a market cap of $7.26 billion, a P/E ratio of 72.90 and a beta of 1.45.

Cognex (NASDAQ:CGNXGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 EPS for the quarter. The company had revenue of $210.80 million during the quarter, compared to the consensus estimate of $198.14 million. Cognex had a return on equity of 6.81% and a net margin of 11.76%. As a group, research analysts predict that Cognex Co. will post 0.44 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.71%. Cognex’s dividend payout ratio is currently 51.72%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CGNX. The Goldman Sachs Group raised their price objective on Cognex from $36.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, May 6th. UBS Group raised Cognex from a “neutral” rating to a “buy” rating and raised their price objective for the company from $42.00 to $54.00 in a research report on Tuesday, March 19th. Truist Financial reissued a “buy” rating and set a $50.00 price objective (up previously from $47.00) on shares of Cognex in a research report on Tuesday, May 7th. Citigroup raised their price objective on Cognex from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, StockNews.com downgraded Cognex from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cognex has an average rating of “Hold” and a consensus price target of $49.15.

View Our Latest Analysis on Cognex

About Cognex

(Free Report)

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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