Park Place Capital Corp Has $47,000 Holdings in Cognex Co. (NASDAQ:CGNX)

Park Place Capital Corp lessened its stake in Cognex Co. (NASDAQ:CGNX) by 29.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,117 shares of the scientific and technical instruments company’s stock after selling 477 shares during the quarter. Park Place Capital Corp’s holdings in Cognex were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Contour Asset Management LLC acquired a new stake in Cognex in the 4th quarter valued at about $11,454,000. Brown Capital Management LLC boosted its stake in shares of Cognex by 5.1% in the 4th quarter. Brown Capital Management LLC now owns 5,419,313 shares of the scientific and technical instruments company’s stock valued at $226,202,000 after purchasing an additional 262,003 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Cognex in the 4th quarter valued at about $12,417,000. BNP Paribas Financial Markets boosted its stake in shares of Cognex by 237.0% in the 4th quarter. BNP Paribas Financial Markets now owns 53,049 shares of the scientific and technical instruments company’s stock valued at $2,214,000 after purchasing an additional 37,306 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Cognex by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,295,729 shares of the scientific and technical instruments company’s stock valued at $54,084,000 after purchasing an additional 61,890 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CGNX shares. HSBC raised shares of Cognex from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, May 7th. The Goldman Sachs Group lifted their price objective on shares of Cognex from $36.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, May 6th. Sanford C. Bernstein lifted their price objective on shares of Cognex from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Truist Financial reissued a “buy” rating and set a $50.00 price objective (up previously from $47.00) on shares of Cognex in a research note on Tuesday, May 7th. Finally, UBS Group raised shares of Cognex from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $42.00 to $54.00 in a research note on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six 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 stock currently has an average rating of “Hold” and a consensus target price of $49.15.

Cognex Stock Performance

Shares of CGNX opened at $46.40 on Tuesday. Cognex Co. has a twelve month low of $34.28 and a twelve month high of $59.51. The firm has a market cap of $7.97 billion, a P/E ratio of 80.00 and a beta of 1.42. The firm’s 50 day moving average price is $45.32 and its two-hundred day moving average price is $41.61.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share (EPS) for the quarter. Cognex had a net margin of 11.76% and a return on equity of 6.81%. The company had revenue of $210.80 million for the quarter, compared to the consensus estimate of $198.14 million. On average, sell-side analysts anticipate that Cognex Co. will post 0.48 earnings per share for the current fiscal year.

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.65%. Cognex’s payout ratio is 51.72%.

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.