American Capital Management Inc buys $56,811,022 stake in Cognex Corporation (CGNX)

Cognex Corporation (CGNX) : American Capital Management Inc scooped up 117,356 additional shares in Cognex Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 1,170,396 shares of Cognex Corporation which is valued at $56,811,022.Cognex Corporation makes up approximately 4.54% of American Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in CGNX in the latest quarter, The investment management firm added 121 additional shares and now holds a total of 2,740 shares of Cognex Corporation which is valued at $133,000.Advisory Services Network boosted its stake in CGNX in the latest quarter, The investment management firm added 65 additional shares and now holds a total of 225 shares of Cognex Corporation which is valued at $10,094.Financial Architects Inc boosted its stake in CGNX in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 414 shares of Cognex Corporation which is valued at $18,572. Cognex Corporation makes up approx 0.01% of Financial Architects Inc’s portfolio.Mai Capital Management reduced its stake in CGNX by selling 635 shares or 3.08% in the most recent quarter. The Hedge Fund company now holds 19,990 shares of CGNX which is valued at $868,765. Cognex Corporation makes up approx 0.07% of Mai Capital Management’s portfolio.

Cognex Corporation closed down -0.22 points or -0.44% at $49.23 with 6,33,793 shares getting traded on Monday. Post opening the session at $49.32, the shares hit an intraday low of $49.03 and an intraday high of $49.77 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Cognex Corporation reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.44. The company had revenue of $147.30 million for the quarter, compared to analysts expectations of $138.11 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Investors should note that on Aug 1, 2016, Cognex Corporation announced a cash dividend of $0.0750. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 16, 2016.

Many Wall Street Analysts have commented on Cognex Corporation. Company shares were Reiterated by Needham on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $42 .Canaccord Genuity Downgraded Cognex Corporation on Jun 14, 2016 to ” Hold”, Price Target of the shares are set at $45.Cognex Corporation was Initiated by Bernstein to “Mkt Perform” on Jun 6, 2016.

Cognex Corporation is a provider of machine vision products that captures and analyzes visual information in order to automate tasks primarily in manufacturing processes. The Company operates in the modular vision systems division (MVSD). The Company’s products include barcode readers machine vision sensors and machine vision systems that are used in factories warehouses and distribution centers around the world. MVSD develops manufactures and markets modular vision systems and identification (ID) products that are used to automate the manufacture and tracking of discrete items such as cellular phones aspirin bottles and automobile wheels during the manufacturing or distribution process. The Company’s registered marks include Cognex VisionPro In-Sight Checker and DataMan among others.

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