WCM Investment Management LLC Sells 8,297 Shares of Cognex Co. (NASDAQ:CGNX)

WCM Investment Management LLC decreased its position in shares of Cognex Co. (NASDAQ:CGNX) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 343,846 shares of the scientific and technical instruments company’s stock after selling 8,297 shares during the period. WCM Investment Management LLC owned approximately 0.20% of Cognex worth $12,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CGNX. JPMorgan Chase & Co. increased its position in Cognex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 1,784,239 shares of the scientific and technical instruments company’s stock worth $72,262,000 after acquiring an additional 87,790 shares during the period. Virtu Financial LLC bought a new position in shares of Cognex during the third quarter worth approximately $790,000. Premier Fund Managers Ltd raised its position in shares of Cognex by 255.1% in the third quarter. Premier Fund Managers Ltd now owns 24,854 shares of the scientific and technical instruments company’s stock valued at $1,001,000 after buying an additional 17,854 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Cognex by 5.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,386,973 shares of the scientific and technical instruments company’s stock valued at $56,172,000 after buying an additional 77,146 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in shares of Cognex by 116.0% in the third quarter. Ceredex Value Advisors LLC now owns 789,550 shares of the scientific and technical instruments company’s stock valued at $31,977,000 after buying an additional 423,950 shares during the period. Institutional investors and hedge funds own 88.12% of the company’s stock.

Insider Buying and Selling

In other Cognex news, CTO Joerg Kuechen sold 2,934 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the transaction, the director now directly owns 26,608 shares of the company’s stock, valued at $1,065,118.24. The trade was a 49.42 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Cognex Stock Performance

Shares of NASDAQ:CGNX opened at $38.21 on Monday. Cognex Co. has a 52-week low of $34.98 and a 52-week high of $53.13. The company has a market capitalization of $6.55 billion, a PE ratio of 73.48 and a beta of 1.40. The company has a fifty day moving average of $37.96 and a 200-day moving average of $39.35.

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.