Stephens Investment Management Group LLC Increases Holdings in Cognex Co. (NASDAQ:CGNX)

Stephens Investment Management Group LLC grew its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 1.7% in the second quarter, Holdings Channel reports. The institutional investor owned 916,459 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,667 shares during the period. Stephens Investment Management Group LLC’s holdings in Cognex were worth $43,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CGNX. NEXT Financial Group Inc lifted its holdings in shares of Cognex by 1,081.8% in the 2nd quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 476 shares during the last quarter. Bremer Bank National Association purchased a new stake in shares of Cognex in the 1st quarter valued at about $27,000. Huntington National Bank lifted its holdings in shares of Cognex by 173.6% in the 2nd quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 401 shares during the last quarter. Osborn Williams & Donohoe LLC purchased a new stake in shares of Cognex in the 1st quarter valued at about $33,000. Finally, Coastal Capital Group Inc. acquired a new position in Cognex in the 2nd quarter valued at about $38,000. 95.04% of the stock is owned by institutional investors.

CGNX has been the topic of several recent analyst reports. BidaskClub cut Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Morgan Stanley dropped their target price on Cognex from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Zacks Investment Research upgraded Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Needham & Company LLC cut Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Gordon Haskett initiated coverage on Cognex in a research report on Wednesday, April 17th. They set a “hold” rating and a $54.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Cognex has an average rating of “Hold” and a consensus target price of $50.60.

Shares of NASDAQ:CGNX traded down $0.06 during trading on Thursday, hitting $43.68. 27,743 shares of the stock were exchanged, compared to its average volume of 1,656,671. The company has a fifty day simple moving average of $43.79. The company has a market capitalization of $7.43 billion, a P/E ratio of 34.92, a PEG ratio of 3.32 and a beta of 2.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.07 and a current ratio of 7.92. Cognex Co. has a 12-month low of $34.88 and a 12-month high of $59.18.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. The business had revenue of $199.00 million for the quarter, compared to analyst estimates of $194.65 million. Cognex had a return on equity of 17.81% and a net margin of 26.03%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, research analysts predict that Cognex Co. will post 0.86 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, August 15th. Cognex’s dividend payout ratio (DPR) is 16.13%.

In other news, Director Dianne M. Parrotte sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $40,500.00. Following the sale, the director now owns 19,700 shares of the company’s stock, valued at approximately $886,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by insiders.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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