Blue Trust Inc. Buys 1,906 Shares of Cognex Co. (NASDAQ:CGNX)

Blue Trust Inc. grew its stake in shares of Cognex Co. (NASDAQ:CGNX) by 719.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,171 shares of the scientific and technical instruments company’s stock after buying an additional 1,906 shares during the period. Blue Trust Inc.’s holdings in Cognex were worth $88,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Riverview Trust Co purchased a new position in Cognex in the 3rd quarter worth approximately $25,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Cognex by 303.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 579 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cognex by 276.1% in the second 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 in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Cognex during the second quarter worth $55,000. Finally, Signaturefd LLC grew its stake in Cognex by 43.2% during the second quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company’s stock valued at $80,000 after acquiring an additional 514 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Cognex Trading Up 3.5 %

NASDAQ CGNX opened at $40.60 on Wednesday. The stock has a market cap of $6.97 billion, a PE ratio of 68.81 and a beta of 1.41. Cognex Co. has a twelve month low of $34.28 and a twelve month high of $53.13. The stock has a fifty day simple moving average of $39.31 and a 200-day simple moving average of $42.94.

Cognex (NASDAQ:CGNX) last issued its quarterly 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 company had revenue of $239.00 million for the quarter, compared to analyst estimates of $240.33 million. Cognex had a net margin of 9.29% and a return on equity of 4.97%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Research analysts predict that Cognex Co. will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Robert W. Baird reduced 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. Truist Financial reduced their price objective on Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Vertical Research started coverage on Cognex in a research report on Tuesday, July 23rd. They set a “buy” rating and a $58.00 target price for the company. DA Davidson lowered their price objective on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Finally, The Goldman Sachs Group reduced their target price on shares of Cognex from $45.00 to $39.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cognex currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Cognex 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.