Cognex Co. (NASDAQ:CGNX) Position Increased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. boosted its holdings in Cognex Co. (NASDAQ:CGNX) by 23.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 27,407 shares of the scientific and technical instruments company’s stock after buying an additional 5,197 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Cognex were worth $983,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CGNX. Impax Asset Management Group plc lifted its holdings in shares of Cognex by 2.6% during the third quarter. Impax Asset Management Group plc now owns 5,230,271 shares of the scientific and technical instruments company’s stock valued at $211,303,000 after purchasing an additional 131,560 shares during the last quarter. State Street Corp boosted its holdings in shares of Cognex by 0.8% in the third quarter. State Street Corp now owns 5,190,365 shares of the scientific and technical instruments company’s stock worth $210,210,000 after buying an additional 42,882 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Cognex by 8.9% in the third quarter. Disciplined Growth Investors Inc. MN now owns 3,751,807 shares of the scientific and technical instruments company’s stock worth $151,948,000 after buying an additional 305,913 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cognex by 5.1% during the third quarter. Geode Capital Management LLC now owns 3,608,028 shares of the scientific and technical instruments company’s stock valued at $146,157,000 after acquiring an additional 175,423 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Cognex by 122.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,834,755 shares of the scientific and technical instruments company’s stock worth $114,808,000 after purchasing an additional 1,562,115 shares during the period. Institutional investors own 88.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial increased their target price on Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Cantor Fitzgerald raised Cognex to a “strong-buy” rating in a research note on Friday, December 20th. Stephens reissued an “overweight” rating and issued a $55.00 price target on shares of Cognex in a research report on Thursday, January 2nd. Needham & Company LLC lowered their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Citigroup cut their target price on shares of Cognex from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.92.

Cognex Price Performance

Cognex stock opened at $38.92 on Thursday. Cognex Co. has a one year low of $34.79 and a one year high of $53.13. The company’s fifty day moving average price is $38.03 and its two-hundred day moving average price is $39.60. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 74.85 and a beta of 1.40.

Insider Activity

In other news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the sale, the director now directly owns 26,608 shares of the company’s stock, valued at approximately $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total value of $110,758.50. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

About Cognex

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.