Envestnet Asset Management Inc. Has $23.04 Million Holdings in Cognex Co. (NASDAQ:CGNX)

Envestnet Asset Management Inc. boosted its stake in shares of Cognex Co. (NASDAQ:CGNX) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 492,667 shares of the scientific and technical instruments company’s stock after buying an additional 11,251 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of Cognex worth $23,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in Cognex by 94.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 286 shares during the period. Rise Advisors LLC raised its holdings in Cognex by 1,239.7% during the 1st quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 719 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Cognex by 303.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 579 shares during the period. GAMMA Investing LLC raised its holdings in Cognex by 276.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock worth $51,000 after buying an additional 798 shares during the period. Finally, Signaturefd LLC raised its holdings in Cognex by 43.2% during the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 514 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Insiders Place Their Bets

In related news, Director Dianne M. Parrotte bought 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average price of $38.62 per share, with a total value of $77,240.00. Following the completion of the transaction, the director now directly owns 11,340 shares of the company’s stock, valued at $437,950.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cognex news, Director Dianne M. Parrotte acquired 2,000 shares of Cognex stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $38.62 per share, with a total value of $77,240.00. Following the completion of the transaction, the director now owns 11,340 shares of the company’s stock, valued at $437,950.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dennis Fehr acquired 6,570 shares of Cognex stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $38.04 per share, with a total value of $249,922.80. Following the completion of the transaction, the chief financial officer now directly owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Cognex Stock Performance

NASDAQ:CGNX opened at $39.74 on Monday. The company has a market capitalization of $6.82 billion, a P/E ratio of 68.52 and a beta of 1.41. The stock’s 50 day moving average price is $41.86 and its 200 day moving average price is $43.25. Cognex Co. has a 52 week low of $34.28 and a 52 week high of $53.13.

Cognex (NASDAQ:CGNX) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $239.00 million during the quarter, compared to analysts’ expectations of $240.33 million. Cognex had a return on equity of 4.97% and a net margin of 9.29%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, sell-side analysts forecast that Cognex Co. will post 0.44 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.075 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.75%. Cognex’s payout ratio is currently 51.72%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC boosted their price objective on Cognex from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, July 29th. DA Davidson dropped their target price on Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. The Goldman Sachs Group dropped their target price on Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Robert W. Baird dropped their target price on Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, Truist Financial dropped their target price on Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cognex has a consensus rating of “Moderate Buy” and a consensus price target of $49.62.

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.