Barclays PLC Sells 608,740 Shares of Cognex Co. (CGNX)

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Barclays PLC reduced its stake in shares of Cognex Co. (NASDAQ:CGNX) by 95.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,010 shares of the scientific and technical instruments company’s stock after selling 608,740 shares during the quarter. Barclays PLC’s holdings in Cognex were worth $1,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its stake in Cognex by 100.0% in the fourth quarter. Glenmede Trust Co. NA now owns 1,830 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 915 shares during the last quarter. Parallel Advisors LLC boosted its stake in Cognex by 100.1% in the fourth quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 942 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in Cognex by 76.9% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $125,000 after acquiring an additional 963 shares during the last quarter. Wagner Wealth Management LLC bought a new position in Cognex in the fourth quarter valued at approximately $134,000. Finally, Moors & Cabot Inc. bought a new position in Cognex in the fourth quarter valued at approximately $206,000. 85.16% of the stock is currently owned by institutional investors and hedge funds.

CGNX has been the topic of a number of recent research reports. Goldman Sachs Group cut shares of Cognex from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $78.00 to $55.00 in a research note on Tuesday, April 10th. Northcoast Research raised shares of Cognex from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 4th. JPMorgan Chase & Co. raised shares of Cognex from an “underweight” rating to a “neutral” rating and set a $63.00 price objective on the stock in a research note on Tuesday, April 3rd. ValuEngine cut shares of Cognex from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Finally, Raymond James raised shares of Cognex from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 1st. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.21.

CGNX opened at $43.74 on Thursday. Cognex Co. has a twelve month low of $39.90 and a twelve month high of $72.99. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 30.17 and a beta of 1.57.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Monday, April 30th. The scientific and technical instruments company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Cognex had a net margin of 21.56% and a return on equity of 23.08%. The firm had revenue of $169.57 million during the quarter, compared to analyst estimates of $170.93 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. sell-side analysts anticipate that Cognex Co. will post 1.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 18th were given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, May 17th. Cognex’s payout ratio is currently 12.41%.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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