Envestnet Portfolio Solutions Inc. Sells 3,655 Shares of Cognex Corporation (NASDAQ:CGNX)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 24.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,402 shares of the scientific and technical instruments company’s stock after selling 3,655 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cognex were worth $340,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Cognex during the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC boosted its position in shares of Cognex by 439.4% during the first quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 791 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of Cognex by 50.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 295 shares during the period. GAMMA Investing LLC boosted its position in shares of Cognex by 155.3% during the first quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 646 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of Cognex by 129.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 569 shares during the period. 88.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CGNX. Stephens restated an “overweight” rating and set a $55.00 target price on shares of Cognex in a research report on Wednesday, March 12th. Truist Financial lowered their price target on Cognex from $37.00 to $29.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Cowen upgraded Cognex from a “hold” rating to a “buy” rating in a report on Monday, April 28th. TD Cowen upgraded Cognex from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Monday, April 28th. Finally, The Goldman Sachs Group boosted their price target on Cognex from $29.00 to $32.00 and gave the company a “sell” rating in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.17.

Cognex Trading Down 0.4%

Shares of CGNX stock opened at $31.46 on Friday. The business’s fifty day simple moving average is $29.50 and its 200-day simple moving average is $32.27. The company has a market cap of $5.28 billion, a PE ratio of 46.26 and a beta of 1.47. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $53.13.

Cognex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, May 15th. Cognex’s payout ratio is presently 47.06%.

Cognex 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.