Federated Hermes Inc. Has $63.50 Million Position in Cognex Corporation $CGNX

Federated Hermes Inc. cut its position in Cognex Corporation (NASDAQ:CGNX) by 13.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,401,803 shares of the scientific and technical instruments company’s stock after selling 217,804 shares during the quarter. Federated Hermes Inc. owned about 0.83% of Cognex worth $63,502,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new stake in shares of Cognex in the third quarter valued at approximately $26,000. Geneos Wealth Management Inc. increased its stake in Cognex by 402.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 736 shares during the period. Penserra Capital Management LLC bought a new position in Cognex during the 2nd quarter worth $29,000. TD Waterhouse Canada Inc. acquired a new position in Cognex in the 2nd quarter valued at $29,000. Finally, First Horizon Corp bought a new stake in shares of Cognex during the 3rd quarter valued at $38,000. Institutional investors own 88.12% of the company’s stock.

Cognex Trading Down 1.0%

CGNX opened at $39.05 on Thursday. The company has a market cap of $6.54 billion, a P/E ratio of 61.02 and a beta of 1.52. The company’s 50 day moving average is $37.91 and its 200-day moving average is $40.68. Cognex Corporation has a 1-year low of $22.67 and a 1-year high of $49.76.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.27 by $0.06. Cognex had a net margin of 11.33% and a return on equity of 8.26%. The business had revenue of $264.00 million during the quarter, compared to the consensus estimate of $261.86 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. On average, equities analysts forecast that Cognex Corporation will post 0.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $35.00 price target (down previously from $45.00) on shares of Cognex in a research note on Wednesday, December 3rd. DA Davidson set a $38.00 target price on shares of Cognex and gave the company a “neutral” rating in a report on Monday, November 3rd. Robert W. Baird set a $45.00 target price on shares of Cognex in a research report on Friday, October 31st. The Goldman Sachs Group upgraded shares of Cognex from a “sell” rating to a “buy” rating and increased their price target for the stock from $42.00 to $50.00 in a research report on Tuesday, December 16th. Finally, KeyCorp reissued an “overweight” rating and issued a $50.00 price objective on shares of Cognex in a research note on Friday, October 31st. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cognex has a consensus rating of “Hold” and an average price target of $45.64.

About Cognex

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.