Texas Permanent School Fund Corp lowered its position in shares of Cognex Co. (NASDAQ:CGNX – Free Report) by 3.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 146,327 shares of the scientific and technical instruments company’s stock after selling 5,646 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Cognex were worth $6,210,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in Cognex by 0.5% in the 1st quarter. BlackRock Inc. now owns 17,207,485 shares of the scientific and technical instruments company’s stock worth $852,631,000 after acquiring an additional 87,789 shares during the period. Vanguard Group Inc. raised its position in shares of Cognex by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,895,177 shares of the scientific and technical instruments company’s stock valued at $658,855,000 after purchasing an additional 180,188 shares in the last quarter. State Street Corp raised its position in shares of Cognex by 0.8% in the 1st quarter. State Street Corp now owns 5,778,896 shares of the scientific and technical instruments company’s stock valued at $445,842,000 after purchasing an additional 45,764 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Cognex by 3.0% in the 4th quarter. Alliancebernstein L.P. now owns 5,294,480 shares of the scientific and technical instruments company’s stock valued at $249,423,000 after purchasing an additional 151,776 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Cognex by 12.1% in the 4th quarter. Lazard Asset Management LLC now owns 4,891,408 shares of the scientific and technical instruments company’s stock valued at $230,434,000 after purchasing an additional 526,196 shares in the last quarter. Hedge funds and other institutional investors own 89.86% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Stephens cut their target price on Cognex from $55.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Needham & Company LLC dropped their price target on Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Finally, Raymond James dropped their price target on Cognex from $65.00 to $60.00 and set a “strong-buy” rating on the stock in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.50.
Cognex Stock Performance
NASDAQ:CGNX opened at $36.76 on Monday. Cognex Co. has a 1 year low of $34.28 and a 1 year high of $59.51. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 40.40 and a beta of 1.49. The business has a fifty day moving average of $38.90 and a 200-day moving average of $41.02.
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.
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