Nisa Investment Advisors LLC Increases Position in Cognex Corporation (NASDAQ:CGNX)
Nisa Investment Advisors LLC increased its position in shares of Cognex Corporation (NASDAQ:CGNX) by 14.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,960 shares of the scientific and technical instruments company’s stock after buying an additional 1,500 shares during the period. Nisa Investment Advisors LLC’s holdings in Cognex Corporation were worth $1,025,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of CGNX. FMR LLC raised its stake in shares of Cognex Corporation by 6.1% in the first quarter. FMR LLC now owns 885,949 shares of the scientific and technical instruments company’s stock worth $74,375,000 after buying an additional 51,144 shares during the period. BlackRock Inc. raised its stake in shares of 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 worth $558,773,000 after buying an additional 6,615,351 shares during the period. Fifth Third Bancorp raised its stake in shares of Cognex Corporation by 69.9% in the first quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 650 shares during the period. Handelsinvest Investeringsforvaltning raised its stake in shares of Cognex Corporation by 22.9% in the second quarter. Handelsinvest Investeringsforvaltning now owns 93,400 shares of the scientific and technical instruments company’s stock worth $7,930,000 after buying an additional 17,400 shares during the period. Finally, Swiss National Bank raised its stake in shares of Cognex Corporation by 1.4% in the first quarter. Swiss National Bank now owns 134,651 shares of the scientific and technical instruments company’s stock worth $11,304,000 after buying an additional 1,800 shares during the period. 87.55% of the stock is owned by institutional investors.
Shares of Cognex Corporation (CGNX) traded down 1.13% on Friday, reaching $100.31. 828,911 shares of the company traded hands. The stock has a 50 day moving average of $90.96 and a 200 day moving average of $83.70. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 45.82 and a beta of 1.43. Cognex Corporation has a 52-week low of $47.05 and a 52-week high of $110.69.
Cognex Corporation (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The firm had revenue of $172.90 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 earnings per share. On average, analysts expect that Cognex Corporation will post $2.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Wednesday, August 16th. Cognex Corporation’s dividend payout ratio is currently 15.60%.
Cognex Corporation announced that its Board of Directors has approved a share repurchase plan on Monday, May 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the scientific and technical instruments company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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CGNX has been the subject of a number of research reports. Zacks Investment Research lowered shares of Cognex Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. BidaskClub lowered shares of Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Cowen and Company decreased their target price on shares of Cognex Corporation from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, May 2nd. Finally, Canaccord Genuity reissued a “hold” rating and set a $80.00 target price (up previously from $65.00) on shares of Cognex Corporation in a research note on Wednesday, May 3rd. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $82.75.
In other Cognex Corporation news, Director Jerry A. Schneider sold 5,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $102.67, for a total value of $513,350.00. Following the completion of the sale, the director now owns 6,000 shares in the company, valued at $616,020. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Theodor Krantz sold 7,500 shares of the 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 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. In the last quarter, insiders sold 112,400 shares of company stock valued at $10,312,529. Corporate insiders own 5.60% of the company’s stock.
About Cognex Corporation
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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