WCM Investment Management LLC Has $12.27 Million Stake in Cognex Co. (NASDAQ:CGNX)

WCM Investment Management LLC reduced its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 343,846 shares of the scientific and technical instruments company’s stock after selling 8,297 shares during the quarter. WCM Investment Management LLC’s holdings in Cognex were worth $12,265,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in Cognex by 13.2% during the second quarter. AQR Capital Management LLC now owns 16,808 shares of the scientific and technical instruments company’s stock worth $786,000 after purchasing an additional 1,957 shares during the period. SG Americas Securities LLC grew its position in shares of Cognex by 58.9% during the 3rd quarter. SG Americas Securities LLC now owns 19,266 shares of the scientific and technical instruments company’s stock worth $780,000 after buying an additional 7,145 shares during the period. CWM LLC increased its stake in shares of Cognex by 1.6% in the 3rd quarter. CWM LLC now owns 86,941 shares of the scientific and technical instruments company’s stock valued at $3,521,000 after acquiring an additional 1,389 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Cognex by 4.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 435,253 shares of the scientific and technical instruments company’s stock valued at $17,628,000 after acquiring an additional 18,838 shares during the period. Finally, Creative Planning boosted its stake in Cognex by 2.4% during the third quarter. Creative Planning now owns 21,919 shares of the scientific and technical instruments company’s stock worth $888,000 after acquiring an additional 512 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Cognex Price Performance

CGNX opened at $38.21 on Monday. Cognex Co. has a 1 year low of $34.98 and a 1 year high of $53.13. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 73.48 and a beta of 1.40. The firm’s fifty day moving average price is $37.96 and its two-hundred day moving average price is $39.35.

Insider Activity at Cognex

In other news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the completion of the sale, the director now directly owns 26,608 shares of the company’s stock, valued at $1,065,118.24. This trade represents a 49.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction 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. 1.10% of the stock is owned by insiders.

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.