Cognex Co. (NASDAQ:CGNX) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC reduced its position in Cognex Co. (NASDAQ:CGNX - Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,030,563 shares of the scientific and technical instruments company's stock after selling 13,049 shares during the quarter. Stephens Investment Management Group LLC owned about 0.60% of Cognex worth $41,738,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Cognex by 1.1% in the first quarter. Vanguard Group Inc. now owns 17,522,549 shares of the scientific and technical instruments company's stock valued at $743,307,000 after acquiring an additional 188,485 shares during the period. Impax Asset Management Group plc raised its stake in shares of Cognex by 32.8% during the second quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company's stock worth $237,812,000 after purchasing an additional 1,259,116 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Cognex by 8.1% during the second quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company's stock worth $187,907,000 after purchasing an additional 301,916 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Cognex by 1.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 3,445,894 shares of the scientific and technical instruments company's stock worth $161,130,000 after purchasing an additional 49,026 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Cognex by 29.0% during the first quarter. Nordea Investment Management AB now owns 2,663,900 shares of the scientific and technical instruments company's stock worth $113,722,000 after purchasing an additional 598,207 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cognex

In related news, Director Dianne M. Parrotte bought 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the acquisition, the director now owns 11,340 shares in the company, valued at $437,950.80. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Cognex news, CFO Dennis Fehr acquired 6,570 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the acquisition, the chief financial officer now directly owns 6,570 shares of the company's stock, valued at $249,922.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dianne M. Parrotte acquired 2,000 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the acquisition, the director now directly owns 11,340 shares in the company, valued at $437,950.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

Cognex Price Performance

NASDAQ:CGNX traded up $0.18 during mid-day trading on Friday, reaching $40.41. The company's stock had a trading volume of 1,460,817 shares, compared to its average volume of 1,284,564. The stock has a market cap of $6.93 billion, a P/E ratio of 76.21 and a beta of 1.41. Cognex Co. has a twelve month low of $34.79 and a twelve month high of $53.13. The company's fifty day simple moving average is $39.38 and its two-hundred day simple moving average is $42.91.

Cognex (NASDAQ:CGNX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $234.74 million for the quarter, compared to analyst estimates of $229.86 million. Cognex had a return on equity of 5.34% and a net margin of 10.10%. Sell-side analysts expect that Cognex Co. will post 0.43 EPS for the current fiscal year.

Cognex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a dividend of $0.08 per share. This is an increase from Cognex's previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, November 14th. Cognex's dividend payout ratio (DPR) is presently 61.54%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CGNX shares. Robert W. Baird cut their price objective on Cognex from $46.00 to $42.00 and set a "neutral" rating for the company in a research report on Monday, August 5th. Vertical Research started coverage on Cognex in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $58.00 price objective for the company. Needham & Company LLC cut their price objective on Cognex from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Friday. StockNews.com upgraded Cognex from a "sell" rating to a "hold" rating in a research report on Friday, August 9th. Finally, Stephens upgraded Cognex from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $45.00 to $55.00 in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $49.17.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.