Parallel Advisors LLC increased its holdings in Cognex Co. (NASDAQ:CGNX – Get Rating) by 18.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,762 shares of the scientific and technical instruments company’s stock after purchasing an additional 280 shares during the quarter. Parallel Advisors LLC’s holdings in Cognex were worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of CGNX. Allworth Financial LP grew its stake in shares of Cognex by 86.6% in the fourth quarter. Allworth Financial LP now owns 793 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 368 shares during the last quarter. Janiczek Wealth Management LLC grew its stake in shares of Cognex by 58.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 833 shares of the scientific and technical instruments company’s stock worth $44,000 after purchasing an additional 308 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in shares of Cognex in the third quarter worth about $48,000. Wipfli Financial Advisors LLC bought a new stake in shares of Cognex in the third quarter worth about $48,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Cognex by 136.4% in the third quarter. Quadrant Capital Group LLC now owns 1,248 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 720 shares during the last quarter. 91.24% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on CGNX shares. Cowen cut their price objective on Cognex from $50.00 to $48.00 in a research report on Friday, February 17th. Needham & Company LLC lifted their price objective on Cognex from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Credit Suisse Group raised Cognex from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $41.00 to $44.00 in a research report on Thursday, February 23rd. Northcoast Research cut Cognex from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 1st. Finally, StockNews.com started coverage on Cognex in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cognex presently has an average rating of “Hold” and an average target price of $50.00.
Cognex Stock Down 3.7 %
Cognex (NASDAQ:CGNX – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Cognex had a net margin of 21.42% and a return on equity of 16.42%. The company had revenue of $239.43 million during the quarter, compared to analyst estimates of $245.09 million. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities analysts expect that Cognex Co. will post 0.74 earnings per share for the current fiscal year.
Cognex Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Friday, March 3rd were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.60%. Cognex’s payout ratio is currently 22.76%.
Insider Buying and Selling
In other Cognex news, Director Theodor Krantz sold 912 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $48.39, for a total transaction of $44,131.68. Following the completion of the sale, the director now directly owns 35,500 shares in the company, valued at approximately $1,717,845. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cognex news, Director Patrick Alias sold 600 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $49.50, for a total transaction of $29,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodor Krantz sold 912 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $48.39, for a total transaction of $44,131.68. Following the sale, the director now owns 35,500 shares of the company’s stock, valued at $1,717,845. The disclosure for this sale can be found here. Insiders sold a total of 16,287 shares of company stock worth $883,325 in the last three months. Insiders own 1.10% of the company’s stock.
About Cognex
Cognex Corp. engages in the provision of machine vision products and solutions. Its products include vision sensors, vision systems, 3D vision systems, barcode readers, barcode verifiers, vision software, and vision tools. Its solutions include alignment, dimensioning, item detection, edge intelligence, logistics barcode reading systems and tunnels, water identification, and tire inspection.
Featured Articles
- Get a free copy of the StockNews.com research report on Cognex (CGNX)
- Do Bank Stocks Go Up When Interest Rates Rise?
- How to Invest in Vertical Farming Stocks
- Can-Fite BioPharma Spikes on Pancreatic Cancer Inhibition Finding
- Ecolab: Slow And Steady Wins The Race
- MGM’s Hot Hand Is All In For A Rally, After This Small Break
Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Co. (NASDAQ:CGNX – Get Rating).
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.
