By otakuyassine3@gmail.com 
Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $80.25.
A number of research firms have weighed in on CCOI. The Goldman Sachs Group raised their price target on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. UBS Group assumed coverage on Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 price objective on the stock.
Check Out Our Latest Analysis on CCOI
Insider Activity at Cogent Communications
In other news, Director Blake Bath sold 6,220 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $83.69, for a total transaction of $520,551.80. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $836,900. The trade was a 38.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lewis H. Ferguson sold 846 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.76, for a total transaction of $69,168.96. Following the completion of the sale, the director now owns 18,354 shares in the company, valued at $1,500,623.04. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,136 shares of company stock valued at $1,939,749 over the last 90 days. Corporate insiders own 11.40% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in shares of Cogent Communications in the third quarter worth about $30,000. Blue Trust Inc. increased its stake in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after acquiring an additional 272 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after acquiring an additional 226 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after acquiring an additional 441 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Cogent Communications in the third quarter valued at $46,000. 92.45% of the stock is owned by hedge funds and other institutional investors.
Cogent Communications Trading Up 0.7 %
Shares of CCOI stock opened at $75.34 on Monday. The company has a market capitalization of $3.69 billion, a PE ratio of 96.59 and a beta of 0.40. Cogent Communications has a 52-week low of $50.80 and a 52-week high of $86.76. The business’s fifty day moving average is $76.15 and its 200 day moving average is $75.35. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.
Cogent Communications (NASDAQ:CCOI – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.01. The business had revenue of $257.20 million during the quarter, compared to analysts’ expectations of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.13) EPS. On average, equities research analysts anticipate that Cogent Communications will post -4.55 EPS for the current fiscal year.
Cogent Communications Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.995 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This is a boost from Cogent Communications’s previous quarterly dividend of $0.99. This represents a $3.98 annualized dividend and a yield of 5.28%. Cogent Communications’s payout ratio is 510.26%.
About Cogent Communications
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.
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