WCM Investment Management LLC Invests $20.27 Million in Cognex Corporation $CGNX

WCM Investment Management LLC acquired a new stake in shares of Cognex Corporation (NASDAQ:CGNX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 444,983 shares of the scientific and technical instruments company’s stock, valued at approximately $20,269,000. WCM Investment Management LLC owned 0.27% of Cognex as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quent Capital LLC bought a new stake in shares of Cognex during the 3rd quarter valued at about $26,000. First Horizon Corp bought a new position in shares of Cognex in the third quarter worth approximately $38,000. TD Waterhouse Canada Inc. purchased a new stake in Cognex in the second quarter valued at approximately $29,000. Penserra Capital Management LLC bought a new stake in Cognex during the second quarter valued at approximately $29,000. Finally, Geneos Wealth Management Inc. grew its stake in Cognex by 402.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 736 shares in the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CGNX. KeyCorp reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Cognex in a report on Friday, October 31st. Barclays set a $54.00 price target on Cognex and gave the stock an “overweight” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $35.00 price objective (down from $45.00) on shares of Cognex in a research report on Wednesday, December 3rd. UBS Group reissued a “buy” rating and set a $58.00 price objective on shares of Cognex in a report on Friday, October 31st. Finally, Truist Financial cut their target price on Cognex from $45.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cognex currently has an average rating of “Hold” and a consensus target price of $45.64.

Cognex Price Performance

CGNX opened at $39.76 on Tuesday. The stock’s 50 day simple moving average is $38.08 and its 200 day simple moving average is $40.85. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 62.13 and a beta of 1.53. Cognex Corporation has a 1 year low of $22.67 and a 1 year high of $49.76.

Cognex Company Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.