Charles Schwab Investment Management Inc. Buys 11,858 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Charles Schwab Investment Management Inc. raised its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 509,344 shares of the technology company's stock after acquiring an additional 11,858 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.04% of Cogent Communications worth $39,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CCOI. Itau Unibanco Holding S.A. acquired a new stake in shares of Cogent Communications during the 3rd quarter worth $30,000. Quest Partners LLC bought a new position in Cogent Communications in the third quarter valued at about $46,000. Blue Trust Inc. raised its holdings in Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after buying an additional 218 shares during the last quarter. BankPlus Trust Department bought a new stake in Cogent Communications during the 4th quarter worth approximately $63,000. Finally, Jones Financial Companies Lllp increased its position in Cogent Communications by 132.1% in the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock valued at $67,000 after acquiring an additional 498 shares during the period. Institutional investors and hedge funds own 92.45% of the company's stock.

Analyst Ratings Changes

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

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Insiders Place Their Bets

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the sale, the chief financial officer now directly owns 103,000 shares of the company's stock, valued at $7,422,180. The trade was a 4.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the sale, the director now directly owns 10,147 shares of the company's stock, valued at $740,325.12. This trade represents a 12.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,681 shares of company stock worth $840,878. 11.40% of the stock is currently owned by company insiders.

Cogent Communications Trading Up 0.6 %

CCOI traded up $0.42 during trading on Wednesday, reaching $70.77. 145,508 shares of the stock traded hands, compared to its average volume of 421,488. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock's 50-day moving average is $75.28 and its 200 day moving average is $76.90. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The stock has a market capitalization of $3.49 billion, a PE ratio of 90.73 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. Equities analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 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, March 28th. Investors of record on Thursday, March 13th will be paid a dividend of $1.005 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 5.68%. Cogent Communications's dividend 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.