Meeder Asset Management Inc. bought a new stake in Cognex Corporation (NASDAQ:CGNX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,594 shares of the scientific and technical instruments company’s stock, valued at approximately $135,000.

A number of other institutional investors have also added to or reduced their stakes in CGNX. BlackRock Inc. boosted its position in Cognex Corporation by 16,264.7% in the first quarter. BlackRock Inc. now owns 6,656,024 shares of the scientific and technical instruments company’s stock valued at $558,773,000 after buying an additional 6,615,351 shares during the last quarter. Vanguard Group Inc. boosted its position in Cognex Corporation by 5.0% in the first quarter. Vanguard Group Inc. now owns 6,574,861 shares of the scientific and technical instruments company’s stock valued at $551,959,000 after buying an additional 311,769 shares during the last quarter. State Street Corp boosted its position in Cognex Corporation by 3.1% in the first quarter. State Street Corp now owns 2,123,233 shares of the scientific and technical instruments company’s stock valued at $178,245,000 after buying an additional 63,298 shares during the last quarter. OppenheimerFunds Inc. boosted its position in Cognex Corporation by 9.0% in the first quarter. OppenheimerFunds Inc. now owns 1,801,467 shares of the scientific and technical instruments company’s stock valued at $151,233,000 after buying an additional 148,004 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Cognex Corporation by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 1,039,767 shares of the scientific and technical instruments company’s stock valued at $87,290,000 after buying an additional 35,584 shares during the last quarter. Institutional investors own 87.46% of the company’s stock.

Cognex Corporation (NASDAQ:CGNX) traded up 0.26% during mid-day trading on Friday, hitting $101.53. The stock had a trading volume of 450,397 shares. Cognex Corporation has a one year low of $47.25 and a one year high of $110.69. The stock has a market cap of $8.79 billion, a PE ratio of 46.38 and a beta of 1.43. The firm’s 50-day moving average is $95.18 and its 200 day moving average is $86.67.

Cognex Corporation (NASDAQ:CGNX) last issued its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The company had revenue of $172.90 million during the quarter, compared to analyst estimates of $169.79 million. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Equities research analysts expect that Cognex Corporation will post $2.56 EPS for the current year.

Cognex Corporation announced that its board has initiated a stock repurchase plan on Monday, May 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Wednesday, August 16th. Cognex Corporation’s dividend payout ratio (DPR) is currently 15.60%.

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CGNX has been the topic of several research analyst reports. Cowen and Company reissued a “buy” rating and set a $100.00 price target on shares of Cognex Corporation in a research note on Tuesday, July 11th. BidaskClub lowered Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Wolfe Research raised Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Finally, Zacks Investment Research lowered Cognex Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $82.75.

In related news, CEO Robert Willett sold 25,000 shares of Cognex Corporation stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $103.37, for a total value of $2,584,250.00. Following the completion of the sale, the chief executive officer now owns 25,000 shares of the company’s stock, valued at approximately $2,584,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Theodor Krantz sold 7,500 shares of Cognex Corporation stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $96.09, for a total transaction of $720,675.00. Following the completion of the sale, the director now directly owns 26,250 shares of the company’s stock, valued at approximately $2,522,362.50. The disclosure for this sale can be found here. Insiders have sold a total of 114,009 shares of company stock valued at $11,811,786 in the last three months. Company insiders own 5.60% of the company’s stock.

Cognex Corporation Company 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.

Institutional Ownership by Quarter for Cognex Corporation (NASDAQ:CGNX)

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