Qube Research & Technologies Ltd Buys New Stake in Cognex Co. (NASDAQ:CGNX)

Qube Research & Technologies Ltd bought a new stake in Cognex Co. (NASDAQ:CGNX) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 6,358 shares of the scientific and technical instruments company’s stock, valued at approximately $305,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NEXT Financial Group Inc grew its position 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 buying an additional 476 shares during the last quarter. Bremer Bank National Association purchased a new position in Cognex during the 1st quarter worth $27,000. Huntington National Bank grew its position in Cognex by 173.6% during the 2nd quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 401 shares during the last quarter. Osborn Williams & Donohoe LLC purchased a new position in Cognex during the 1st quarter worth $33,000. Finally, Coastal Capital Group Inc. purchased a new position in Cognex during the 2nd quarter worth $38,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CGNX stock traded up $0.12 during mid-day trading on Wednesday, hitting $44.97. The stock had a trading volume of 7,015 shares, compared to its average volume of 1,619,044. Cognex Co. has a fifty-two week low of $34.88 and a fifty-two week high of $59.18. The firm has a market cap of $7.65 billion, a PE ratio of 36.35, a PEG ratio of 3.41 and a beta of 2.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.92 and a quick ratio of 7.07. The company’s 50-day simple moving average is $43.40 and its 200-day simple moving average is $47.80.

Cognex (NASDAQ:CGNX) last released its 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. Cognex had a net margin of 26.03% and a return on equity of 17.81%. The company had revenue of $199.00 million during the quarter, compared to analysts’ expectations of $194.65 million. During the same quarter last year, the business earned $0.31 EPS. The business’s revenue was down 5.8% on a year-over-year basis. On average, analysts expect that Cognex Co. will post 0.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Thursday, August 15th. Cognex’s dividend payout ratio (DPR) is 16.13%.

In related news, Director Dianne M. Parrotte sold 900 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $40,500.00. Following the completion of the sale, the director now owns 19,700 shares in the company, valued at $886,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by company insiders.

Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein downgraded shares of Cognex from an “outperform” rating to a “market perform” rating and set a $46.00 price objective on the stock. in a research report on Tuesday, April 30th. They noted that the move was a valuation call. ValuEngine downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Goldman Sachs Group downgraded shares of Cognex from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $45.00 to $36.00 in a research report on Tuesday, July 16th. Finally, BidaskClub raised shares of Cognex from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Two equities research 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 a consensus rating of “Hold” and an average price target of $50.60.

About Cognex

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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