Conestoga Capital Advisors LLC increased its position in Cognex Corporation (NASDAQ:CGNX) by 32.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,027 shares of the scientific and technical instruments company’s stock after buying an additional 1,727 shares during the period. Conestoga Capital Advisors LLC’s holdings in Cognex Corporation were worth $775,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CGNX. Teachers Advisors LLC increased its holdings in Cognex Corporation by 208.2% in the first quarter. Teachers Advisors LLC now owns 238,329 shares of the scientific and technical instruments company’s stock worth $20,008,000 after buying an additional 160,999 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Cognex Corporation by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,022 shares of the scientific and technical instruments company’s stock worth $422,000 after buying an additional 138 shares during the last quarter. Morgan Stanley increased its holdings in Cognex Corporation by 14.9% in the first quarter. Morgan Stanley now owns 369,055 shares of the scientific and technical instruments company’s stock worth $30,981,000 after buying an additional 47,952 shares during the last quarter. Credit Suisse AG increased its holdings in Cognex Corporation by 22.4% in the first quarter. Credit Suisse AG now owns 186,206 shares of the scientific and technical instruments company’s stock worth $15,632,000 after buying an additional 34,120 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Cognex Corporation by 90.8% in the first quarter. HighTower Advisors LLC now owns 7,857 shares of the scientific and technical instruments company’s stock worth $653,000 after buying an additional 3,738 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.
Cognex Corporation (NASDAQ:CGNX) last posted its earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The firm’s revenue was up 75.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, November 16th. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.29%. Cognex Corporation’s payout ratio is presently 12.55%.
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CGNX has been the topic of a number of research reports. Cowen and Company restated an “outperform” rating and issued a $135.00 price objective (up previously from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. Canaccord Genuity upped their target price on Cognex Corporation from $95.00 to $120.00 and gave the stock a “hold” rating in a research report on Tuesday. Wolfe Research raised Cognex Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. Zacks Investment Research raised Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Wednesday. Finally, Robert W. Baird upped their target price on Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Cognex Corporation has a consensus rating of “Buy” and an average price target of $99.50.
In related news, Director Patrick Alias sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $111.31, for a total value of $556,550.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at approximately $556,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Willett sold 66,759 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $104.58, for a total value of $6,981,656.22. Following the completion of the sale, the chief executive officer now owns 9,468 shares of the company’s stock, valued at $990,163.44. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock worth $12,729,376 over the last three months. 5.60% of the stock is owned by insiders.
Cognex Corporation 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.
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