Cognex Corporation (CGNX) : Riverbridge Partners reduced its stake in Cognex Corporation by 3.29% during the most recent quarter end. The investment management company now holds a total of 1,421,379 shares of Cognex Corporation which is valued at $68,993,737 after selling 48,323 shares in Cognex Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Cognex Corporation makes up approximately 1.39% of Riverbridge Partners’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. Chicago Equity Partners added CGNX to its portfolio by purchasing 9,950 company shares during the most recent quarter which is valued at $449,442. Cognex Corporation makes up approx 0.01% of Chicago Equity Partners’s portfolio.Whittier Trust Co boosted its stake in CGNX in the latest quarter, The investment management firm added 260 additional shares and now holds a total of 21,634 shares of Cognex Corporation which is valued at $977,208. Cognex Corporation makes up approx 0.04% of Whittier Trust Co’s portfolio.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.
Cognex Corporation opened for trading at $48.44 and hit $49.025 on the upside on Thursday, eventually ending the session at $48.79, with a gain of 0.52% or 0.25 points. The heightened volatility saw the trading volume jump to 4,28,814 shares. Company has a market cap of $4,150 M.
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.
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.