Gulf International Bank UK Ltd Takes Position in Cognex Co. (CGNX)

Gulf International Bank UK Ltd bought a new position in shares of Cognex Co. (NASDAQ:CGNX) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 54,400 shares of the scientific and technical instruments company’s stock, valued at approximately $3,327,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CGNX. Coatue Management LLC bought a new stake in shares of Cognex during the 2nd quarter worth $87,064,000. Harding Loevner LP raised its stake in shares of Cognex by 50.1% during the 3rd quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock worth $135,890,000 after purchasing an additional 947,119 shares during the period. Whale Rock Capital Management LLC raised its stake in shares of Cognex by 124.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 451,928 shares of the scientific and technical instruments company’s stock worth $49,839,000 after purchasing an additional 250,946 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Cognex during the 3rd quarter worth $26,467,000. Finally, BlackRock Inc. raised its stake in shares of Cognex by 3.5% during the 2nd quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock worth $584,711,000 after purchasing an additional 231,014 shares during the period. Institutional investors own 42.10% of the company’s stock.

Shares of Cognex Co. (NASDAQ:CGNX) opened at $68.39 on Thursday. Cognex Co. has a 52 week low of $32.05 and a 52 week high of $72.99. The stock has a market capitalization of $11,840.00, a PE ratio of 50.29 and a beta of 1.50.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. The business had revenue of $259.74 million for the quarter, compared to analysts’ expectations of $255.95 million. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The firm’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. equities analysts forecast that Cognex Co. will post 1.39 EPS for the current year.

A number of equities research analysts have recently commented on CGNX shares. JPMorgan Chase & Co. cut Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 target price on the stock. in a research note on Wednesday, November 8th. Canaccord Genuity boosted their price objective on Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, October 31st. Zacks Investment Research cut Cognex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, BidaskClub cut Cognex from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.17.

In other Cognex news, Director Patrick Alias sold 5,000 shares of Cognex stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $143.54, for a total transaction of $717,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John J. Curran sold 12,500 shares of Cognex stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $132.60, for a total value of $1,657,500.00. Following the transaction, the insider now directly owns 6,250 shares of the company’s stock, valued at approximately $828,750. The disclosure for this sale can be found here. Insiders have sold a total of 143,750 shares of company stock valued at $18,540,975 in the last ninety days. Insiders own 5.60% of the company’s stock.

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About Cognex

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.

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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