Asset Management One Co. Ltd. Has $5.19 Million Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Asset Management One Co. Ltd. decreased its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,397 shares of the technology company's stock after selling 8,176 shares during the period. Asset Management One Co. Ltd. owned about 0.14% of Cogent Communications worth $5,193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. M&G Plc acquired a new stake in shares of Cogent Communications during the 1st quarter worth about $27,942,000. Capital World Investors raised its holdings in Cogent Communications by 327.7% during the first quarter. Capital World Investors now owns 981,623 shares of the technology company's stock worth $64,129,000 after purchasing an additional 752,133 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Cogent Communications by 289.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,020 shares of the technology company's stock worth $566,000 after buying an additional 7,448 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in Cogent Communications by 16.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 738,664 shares of the technology company's stock worth $48,257,000 after acquiring an additional 105,164 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Cogent Communications by 55.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 23,015 shares of the technology company's stock valued at $1,467,000 after purchasing an additional 8,223 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Analyst Upgrades and Downgrades

CCOI has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. The Goldman Sachs Group lifted their target price on shares of Cogent Communications from $62.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, October 4th. KeyCorp increased their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday, August 27th. Bank of America lowered Cogent Communications from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $75.00 to $65.00 in a report on Wednesday, August 21st. Finally, TD Cowen increased their target price on Cogent Communications from $78.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $77.14.

Insiders Place Their Bets

In related news, Director Lewis H. Ferguson sold 1,550 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total value of $112,561.00. Following the sale, the director now directly owns 17,748 shares of the company's stock, valued at approximately $1,288,859.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lewis H. Ferguson sold 1,550 shares of the firm's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total transaction of $112,561.00. Following the completion of the sale, the director now directly owns 17,748 shares of the company's stock, valued at approximately $1,288,859.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dave Schaeffer sold 60,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total value of $4,369,200.00. Following the sale, the chief executive officer now owns 4,373,038 shares of the company's stock, valued at approximately $318,444,627.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,870 shares of company stock valued at $4,716,057 in the last quarter. 11.40% of the stock is currently owned by company insiders.

Cogent Communications Price Performance

NASDAQ CCOI traded down $1.60 during trading hours on Friday, reaching $83.75. The company's stock had a trading volume of 473,268 shares, compared to its average volume of 312,313. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The company has a debt-to-equity ratio of 4.43, a quick ratio of 2.20 and a current ratio of 2.20. The company's 50-day moving average is $77.38 and its two-hundred day moving average is $67.63. The stock has a market cap of $4.10 billion, a PE ratio of 92.03 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating analysts' consensus estimates of ($1.34) by $0.01. The business had revenue of $257.20 million for the quarter, compared to analyst estimates of $258.69 million. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.13) earnings per share. Analysts forecast that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.995 per share. The ex-dividend date is Friday, November 22nd. This represents a $3.98 dividend on an annualized basis and a yield of 4.75%. This is a positive change from Cogent Communications's previous quarterly dividend of $0.99. Cogent Communications's dividend payout ratio (DPR) is 432.97%.

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.