Nisa Investment Advisors LLC Grows Holdings in Cognex Co. (CGNX)
Nisa Investment Advisors LLC raised its stake in Cognex Co. (NASDAQ:CGNX) by 100.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,900 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,950 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cognex were worth $1,339,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in CGNX. Huntington National Bank raised its position in Cognex by 67.3% in the third quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock valued at $151,000 after purchasing an additional 550 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of Cognex during the third quarter valued at about $203,000. Empirical Finance LLC acquired a new stake in shares of Cognex during the third quarter valued at about $209,000. Wealthsource Partners LLC acquired a new stake in shares of Cognex during the third quarter valued at about $212,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Cognex during the third quarter valued at about $214,000. 42.25% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on CGNX shares. Zacks Investment Research downgraded Cognex from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. downgraded Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 target price for the company. in a research note on Wednesday, November 8th. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Robert W. Baird raised their target price on Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Finally, Deutsche Bank set a $80.00 target price on Cognex and gave the company a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Cognex presently has an average rating of “Hold” and an average price target of $63.00.
Cognex Co. (NASDAQ CGNX) opened at $69.06 on Monday. The company has a market capitalization of $11,959.34, a PE ratio of 50.97 and a beta of 1.51. Cognex Co. has a 52 week low of $32.05 and a 52 week high of $72.99.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.05. The business had revenue of $259.74 million during the quarter, compared to the consensus estimate of $255.95 million. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The company’s revenue for the quarter was up 75.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. research analysts expect that Cognex Co. will post 1.39 EPS for the current fiscal year.
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Cognex 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.
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