Gilder Gagnon Howe & Co. LLC trimmed its stake in Cognex Corporation (NASDAQ:CGNX) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 328,727 shares of the scientific and technical instruments company’s stock after selling 6,200 shares during the period. Gilder Gagnon Howe & Co. LLC owned approximately 0.38% of Cognex Corporation worth $36,252,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of CGNX. Capstone Asset Management Co. increased its position in shares of Cognex Corporation by 3.0% in the second quarter. Capstone Asset Management Co. now owns 11,362 shares of the scientific and technical instruments company’s stock worth $965,000 after purchasing an additional 330 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Cognex Corporation in the second quarter worth approximately $260,000. Creative Planning boosted its stake in Cognex Corporation by 60.1% in the second quarter. Creative Planning now owns 6,876 shares of the scientific and technical instruments company’s stock worth $584,000 after buying an additional 2,582 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Cognex Corporation in the second quarter worth approximately $135,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in Cognex Corporation by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 31,396 shares of the scientific and technical instruments company’s stock worth $2,666,000 after buying an additional 1,324 shares in the last quarter. Institutional investors own 85.51% of the company’s stock.
Cognex Corporation (NASDAQ:CGNX) traded up $1.14 during trading hours on Tuesday, hitting $137.50. The stock had a trading volume of 770,500 shares, compared to its average volume of 740,384. The stock has a market capitalization of $11,806.95, a price-to-earnings ratio of 50.32 and a beta of 1.48. Cognex Corporation has a 52-week low of $55.71 and a 52-week high of $138.61.
Cognex Corporation’s stock is scheduled to split before the market opens on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly created shares will be payable to shareholders after the market closes on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last released its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $259.74 million during 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 business’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 earnings per share. sell-side analysts forecast that Cognex Corporation will post 2.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $0.09 dividend. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.26%. Cognex Corporation’s dividend payout ratio (DPR) is presently 12.55%.
Several analysts have issued reports on the company. J P Morgan Chase & Co lowered Cognex Corporation from a “neutral” rating to an “underweight” rating and set a $125.00 target price for the company. in a research note on Wednesday, November 8th. 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 note on Tuesday, October 31st. 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 note on Tuesday, October 31st. 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 note on Wednesday, November 1st. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $135.00 target price (up previously from $100.00) on shares of Cognex Corporation in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Cognex Corporation has an average rating of “Buy” and an average target price of $106.88.
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In related news, Director Jeffrey Benjamin Miller sold 3,750 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $134.48, for a total value of $504,300.00. Following the completion of the sale, the director now owns 3,750 shares of the company’s stock, valued at $504,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce Robinson J sold 7,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $106.50, for a total value of $745,500.00. Following the completion of the sale, the director now directly owns 5,625 shares of the company’s stock, valued at approximately $599,062.50. The disclosure for this sale can be found here. Insiders sold 158,991 shares of company stock valued at $19,974,890 in the last ninety days. 5.60% of the stock is currently 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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