Envestnet Asset Management Inc. Acquires 9,475 Shares of Cognex Corporation (NASDAQ:CGNX)

Envestnet Asset Management Inc. lifted its holdings in shares of Cognex Corporation (NASDAQ:CGNX) by 1.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 577,616 shares of the scientific and technical instruments company’s stock after acquiring an additional 9,475 shares during the period. Envestnet Asset Management Inc. owned approximately 0.34% of Cognex worth $17,230,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CGNX. Teacher Retirement System of Texas grew its position in shares of Cognex by 51.3% during the 1st quarter. Teacher Retirement System of Texas now owns 48,640 shares of the scientific and technical instruments company’s stock worth $1,451,000 after buying an additional 16,489 shares during the period. GAMMA Investing LLC lifted its stake in Cognex by 155.3% in 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 in the last quarter. OneDigital Investment Advisors LLC lifted its stake in Cognex by 7.4% in the first quarter. OneDigital Investment Advisors LLC now owns 7,698 shares of the scientific and technical instruments company’s stock valued at $230,000 after buying an additional 532 shares in the last quarter. Swiss National Bank lifted its stake in Cognex by 0.7% in the fourth quarter. Swiss National Bank now owns 337,300 shares of the scientific and technical instruments company’s stock valued at $12,096,000 after buying an additional 2,200 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Cognex by 3.2% in the fourth quarter. Nuveen Asset Management LLC now owns 457,636 shares of the scientific and technical instruments company’s stock valued at $16,411,000 after purchasing an additional 14,396 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CGNX. TD Cowen upgraded shares of Cognex from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Monday, April 28th. Cowen raised shares of Cognex from a “hold” rating to a “buy” rating in a research report on Monday, April 28th. DA Davidson reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Cognex in a research report on Monday, June 16th. The Goldman Sachs Group upped their price objective on shares of Cognex from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Thursday, June 12th. Finally, Robert W. Baird increased their target price on shares of Cognex from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.62.

Cognex Trading Up 1.5%

NASDAQ CGNX opened at $33.81 on Friday. Cognex Corporation has a 12 month low of $22.67 and a 12 month high of $51.78. The stock has a market cap of $5.68 billion, a P/E ratio of 49.72 and a beta of 1.47. The stock’s fifty day moving average price is $31.26 and its 200-day moving average price is $31.97.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Thursday, May 15th. Cognex’s payout ratio is currently 47.06%.

Cognex Company 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.