Public Employees Retirement Association of Colorado Sells 2,371 Shares of Cognex Corp. (CGNX)
Public Employees Retirement Association of Colorado decreased its position in Cognex Corp. (NASDAQ:CGNX) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,168 shares of the company’s stock after selling 2,371 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.32% of Cognex Corp. worth $11,730,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. AXA increased its position in Cognex Corp. by 156.4% in the first quarter. AXA now owns 431,884 shares of the company’s stock worth $16,822,000 after buying an additional 263,460 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Cognex Corp. by 96.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 393,027 shares of the company’s stock worth $15,308,000 after buying an additional 193,027 shares during the period. Hermes Investment Management Ltd. increased its position in Cognex Corp. by 16.8% in the second quarter. Hermes Investment Management Ltd. now owns 1,234,645 shares of the company’s stock worth $53,213,000 after buying an additional 177,816 shares during the period. Bank of Montreal Can purchased a new position in Cognex Corp. during the second quarter worth $7,290,000. Finally, Pictet Asset Management Ltd. increased its position in Cognex Corp. by 44.0% in the first quarter. Pictet Asset Management Ltd. now owns 392,877 shares of the company’s stock worth $14,540,000 after buying an additional 119,964 shares during the period. 91.42% of the stock is owned by hedge funds and other institutional investors.
Cognex Corp. (NASDAQ:CGNX) traded down 0.42% during midday trading on Friday, reaching $51.58. The company had a trading volume of 195,189 shares. The stock’s 50 day moving average is $50.77 and its 200 day moving average is $44.47. Cognex Corp. has a 12-month low of $28.01 and a 12-month high of $53.46. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 24.86 and a beta of 1.47.
Cognex Corp. (NASDAQ:CGNX) last issued its earnings results on Monday, August 1st. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.07. The business earned $147.27 million during the quarter, compared to the consensus estimate of $138.11 million. Cognex Corp. had a return on equity of 11.44% and a net margin of 40.22%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. Equities research analysts expect that Cognex Corp. will post $1.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.075 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.30 dividend on an annualized basis and a yield of 0.58%. Cognex Corp.’s payout ratio is currently 14.49%.
CGNX has been the subject of a number of recent research reports. Canaccord Genuity set a $49.00 price target on Cognex Corp. and gave the stock a “hold” rating in a research report on Tuesday, September 20th. Credit Agricole SA upped their price target on Cognex Corp. from $37.00 to $55.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 2nd. Finally, Needham & Company LLC upped their price target on Cognex Corp. from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Cognex Corp. currently has a consensus rating of “Hold” and an average price target of $46.90.
In other Cognex Corp. news, CEO Robert Willett sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $47.93, for a total value of $5,991,250.00. Following the completion of the sale, the chief executive officer now owns 25,000 shares of the company’s stock, valued at $1,198,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Benjamin Miller sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $990,200. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.
About Cognex Corp.
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’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.
Receive News & Stock Ratings for Cognex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex Corp. and related stocks with our FREE daily email newsletter.