Iberiabank Corp Decreases Holdings in Cognex Co. (CGNX)

Iberiabank Corp reduced its stake in Cognex Co. (NASDAQ:CGNX) by 30.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,742 shares of the scientific and technical instruments company’s stock after selling 3,874 shares during the period. Iberiabank Corp’s holdings in Cognex were worth $488,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Capital Analysts LLC boosted its position in shares of Cognex by 1,180.6% in the second quarter. Capital Analysts LLC now owns 2,305 shares of the scientific and technical instruments company’s stock valued at $103,000 after acquiring an additional 2,125 shares during the period. Braun Bostich & Associates Inc. bought a new stake in shares of Cognex in the first quarter valued at about $125,000. Summit Trail Advisors LLC boosted its position in shares of Cognex by 4,133.9% in the first quarter. Summit Trail Advisors LLC now owns 183,625 shares of the scientific and technical instruments company’s stock valued at $184,000 after acquiring an additional 179,288 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Cognex in the first quarter valued at about $213,000. Finally, Point72 Asia Hong Kong Ltd boosted its position in shares of Cognex by 3,200.0% in the first quarter. Point72 Asia Hong Kong Ltd now owns 4,290 shares of the scientific and technical instruments company’s stock valued at $223,000 after acquiring an additional 4,160 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

In related news, Director Anthony Sun sold 10,000 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $53.01, for a total transaction of $530,100.00. Following the completion of the sale, the director now owns 284,262 shares of the company’s stock, valued at $15,068,728.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry A. Schneider sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $54.29, for a total transaction of $271,450.00. Following the sale, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $380,030. The disclosure for this sale can be found here. Insiders have sold 27,500 shares of company stock valued at $1,493,200 in the last ninety days. 5.40% of the stock is currently owned by company insiders.

CGNX opened at $44.72 on Friday. Cognex Co. has a twelve month low of $39.90 and a twelve month high of $72.99. The stock has a market cap of $9.60 billion, a P/E ratio of 30.72 and a beta of 1.64.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, July 30th. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Cognex had a net margin of 20.57% and a return on equity of 22.95%. The business had revenue of $211.26 million during the quarter, compared to analysts’ expectations of $204.87 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. Cognex’s revenue was up 18.6% compared to the same quarter last year. On average, analysts expect that Cognex Co. will post 1.19 EPS for the current fiscal year.

CGNX has been the subject of a number of recent research reports. BidaskClub raised shares of Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Zacks Investment Research cut shares of Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Northcoast Research cut shares of Cognex from a “buy” rating to a “neutral” rating and set a $54.00 target price for the company. in a research report on Friday, August 24th. They noted that the move was a valuation call. Morgan Stanley initiated coverage on shares of Cognex in a research report on Monday, August 20th. They issued an “equal weight” rating and a $57.00 target price for the company. Finally, Sanford C. Bernstein raised shares of Cognex from a “market perform” rating to an “outperform” rating and set a $40.10 target price for the company in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $54.51.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing and tracking of discrete items, such as mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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