Peterson Wealth Services Buys 39,175 Shares of Cognex Corporation $CGNX

Peterson Wealth Services grew its position in shares of Cognex Corporation (NASDAQ:CGNX) by 1,004.5% during the third quarter, Holdings Channel.com reports. The fund owned 43,075 shares of the scientific and technical instruments company’s stock after purchasing an additional 39,175 shares during the quarter. Peterson Wealth Services’ holdings in Cognex were worth $1,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC purchased a new position in Cognex during the third quarter worth about $26,000. Geneos Wealth Management Inc. lifted its position in shares of Cognex by 402.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 736 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Cognex in the 2nd quarter worth approximately $29,000. TD Waterhouse Canada Inc. bought a new position in shares of Cognex in the second quarter valued at approximately $29,000. Finally, First Horizon Corp bought a new position in shares of Cognex in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CGNX shares. Truist Financial dropped their price target on Cognex from $45.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Robert W. Baird set a $45.00 target price on Cognex in a research note on Friday, October 31st. DA Davidson set a $38.00 price target on shares of Cognex and gave the stock a “neutral” rating in a report on Monday, November 3rd. UBS Group restated a “buy” rating and set a $58.00 price target on shares of Cognex in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $35.00 price objective (down previously from $45.00) on shares of Cognex in a research report on Wednesday, December 3rd. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.64.

Cognex Stock Performance

Shares of CGNX opened at $39.76 on Tuesday. Cognex Corporation has a fifty-two week low of $22.67 and a fifty-two week high of $49.76. The business has a 50-day moving average of $38.08 and a 200 day moving average of $40.85. The firm has a market cap of $6.66 billion, a P/E ratio of 62.13 and a beta of 1.53.

Cognex Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.