Charles Schwab Investment Management Inc. Buys 21,429 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Charles Schwab Investment Management Inc. grew its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 497,486 shares of the technology company's stock after acquiring an additional 21,429 shares during the period. Charles Schwab Investment Management Inc. owned about 1.02% of Cogent Communications worth $37,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ipswich Investment Management Co. Inc. boosted its holdings in shares of Cogent Communications by 0.5% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company's stock worth $3,119,000 after buying an additional 185 shares during the period. Taylor Frigon Capital Management LLC raised its position in shares of Cogent Communications by 1.1% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company's stock valued at $1,095,000 after buying an additional 202 shares in the last quarter. Hexagon Capital Partners LLC increased its position in 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 purchasing an additional 226 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Cogent Communications by 5.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company's stock worth $378,000 after acquiring an additional 262 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock valued at $31,000 after purchasing an additional 272 shares during the last quarter. Institutional investors own 92.45% of the company's stock.

Insider Transactions at Cogent Communications

In related news, CFO Thaddeus Gerard Weed sold 4,800 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $81.58, for a total value of $391,584.00. Following the completion of the sale, the chief financial officer now directly owns 88,500 shares of the company's stock, valued at approximately $7,219,830. This represents a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 846 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.76, for a total transaction of $69,168.96. Following the sale, the director now directly owns 18,354 shares of the company's stock, valued at approximately $1,500,623.04. This trade represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,736 shares of company stock worth $1,664,045 in the last quarter. Company insiders own 11.00% of the company's stock.

Cogent Communications Price Performance

Shares of CCOI stock traded down $2.68 during trading hours on Tuesday, hitting $80.61. 829,919 shares of the company's stock were exchanged, compared to its average volume of 440,366. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.76. The company has a market capitalization of $3.95 billion, a PE ratio of 103.35 and a beta of 0.39. The business's 50 day simple moving average is $80.54 and its 200-day simple moving average is $69.80.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating analysts' consensus estimates of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $257.20 million for the quarter, compared to analysts' expectations of $258.69 million. During the same quarter in the previous year, the business posted ($1.13) EPS. The company's quarterly revenue was down 6.6% on a year-over-year basis. On average, equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.53 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.995 per share. The ex-dividend date is Friday, November 22nd. This represents a $3.98 annualized dividend and a yield of 4.94%. This is a boost from Cogent Communications's previous quarterly dividend of $0.99. Cogent Communications's dividend payout ratio is currently 510.26%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group began coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They set a "buy" rating and a $102.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Cogent Communications from $70.00 to $76.00 and gave the company a "neutral" rating in a report on Monday, August 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. Bank of America lowered shares of Cogent Communications from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $75.00 to $65.00 in a research report on Wednesday, August 21st. Finally, Citigroup raised their price objective on shares of Cogent Communications from $70.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cogent Communications has an average rating of "Hold" and an average price target of $80.25.

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.