Azimuth Capital Investment Management LLC Decreases Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Azimuth Capital Investment Management LLC cut its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,985 shares of the technology company's stock after selling 7,785 shares during the period. Azimuth Capital Investment Management LLC owned about 0.09% of Cogent Communications worth $3,313,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Cogent Communications in the fourth quarter valued at approximately $39,845,000. Bryn Mawr Capital Management LLC increased its position in Cogent Communications by 8,542.8% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 237,678 shares of the technology company's stock valued at $18,318,000 after acquiring an additional 234,928 shares during the period. Reaves W H & Co. Inc. raised its stake in shares of Cogent Communications by 17.1% during the fourth quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company's stock valued at $53,835,000 after acquiring an additional 101,956 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of Cogent Communications during the fourth quarter worth $7,084,000. Finally, Madison Investment Advisors LLC acquired a new position in shares of Cogent Communications during the fourth quarter worth $6,332,000. Institutional investors and hedge funds own 92.45% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Cogent Communications to a "sell" rating in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $80.25.

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Insider Transactions at Cogent Communications

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 956 shares of Cogent Communications stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now directly owns 18,652 shares in the company, valued at approximately $1,293,702.72. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,681 shares of company stock valued at $840,878 over the last ninety days. 11.40% of the stock is owned by company insiders.

Cogent Communications Trading Up 0.9 %

Shares of NASDAQ:CCOI traded up $0.46 during mid-day trading on Tuesday, hitting $53.54. The company had a trading volume of 96,745 shares, compared to its average volume of 454,608. The company has a market capitalization of $2.64 billion, a PE ratio of 68.64 and a beta of 0.69. Cogent Communications Holdings, Inc. has a one year low of $47.54 and a one year high of $86.76. The firm has a fifty day moving average price of $69.05 and a 200 day moving average price of $75.00. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.22) by $0.31. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company had revenue of $252.29 million for the quarter, compared to analysts' expectations of $258.49 million. As a group, research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.005 per share. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 13th. This represents a $4.02 annualized dividend and a dividend yield of 7.51%. Cogent Communications's payout ratio is currently -93.49%.

Cogent Communications Company Profile

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.