Insider Selling: Cognex Corporation (CGNX) Director Sells 7,500 Shares of Stock
Cognex Corporation (NASDAQ:CGNX) Director Jeffrey Benjamin Miller sold 7,500 shares of Cognex Corporation stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $124.23, for a total value of $931,725.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Cognex Corporation (NASDAQ CGNX) traded up $4.27 during mid-day trading on Friday, reaching $127.42. The company’s stock had a trading volume of 1,232,192 shares, compared to its average volume of 776,333. The firm has a market capitalization of $11.03 billion, a PE ratio of 47.02 and a beta of 1.48.
Shares of Cognex Corporation are going to split on the morning of Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly created shares will be payable to shareholders after the market closes on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last posted its earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.09. The business had revenue of $259.74 million during the quarter, compared to analyst estimates of $255.95 million. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The company’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. equities analysts predict that Cognex Corporation will post 2.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Thursday, November 16th. This is an increase from Cognex Corporation’s previous quarterly dividend of $0.09. Cognex Corporation’s dividend payout ratio (DPR) is 12.55%.
Several brokerages recently weighed in on CGNX. Zacks Investment Research lowered Cognex Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub raised Cognex Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Cowen and Company lifted their price objective on Cognex Corporation from $100.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Robert W. Baird lifted their price objective on Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Wolfe Research began coverage on Cognex Corporation in a report on Tuesday, July 11th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Cognex Corporation has an average rating of “Buy” and an average price target of $99.50.
Several institutional investors and hedge funds have recently modified their holdings of CGNX. Teachers Advisors LLC boosted its position in shares of Cognex Corporation by 208.2% during the 1st quarter. Teachers Advisors LLC now owns 238,329 shares of the scientific and technical instruments company’s stock valued at $20,008,000 after acquiring an additional 160,999 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Cognex Corporation by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,022 shares of the scientific and technical instruments company’s stock valued at $422,000 after acquiring an additional 138 shares during the last quarter. Credit Suisse AG boosted its position in shares of Cognex Corporation by 22.4% during the 1st quarter. Credit Suisse AG now owns 186,206 shares of the scientific and technical instruments company’s stock valued at $15,632,000 after acquiring an additional 34,120 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Cognex Corporation by 90.8% during the 1st quarter. HighTower Advisors LLC now owns 7,857 shares of the scientific and technical instruments company’s stock valued at $653,000 after acquiring an additional 3,738 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Cognex Corporation by 47.8% during the 1st quarter. Janus Capital Management LLC now owns 98,600 shares of the scientific and technical instruments company’s stock valued at $8,277,000 after acquiring an additional 31,900 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.
About Cognex Corporation
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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