Analysts Set Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Target Price at $80.25

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $80.25.

Several analysts recently issued reports on the company. StockNews.com raised Cogent Communications to a "sell" rating in a research note on Monday. UBS Group assumed coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a "buy" rating and a $102.00 target price on the stock.

Insider Activity

In other Cogent Communications news, VP Henry W. Kilmer sold 4,800 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the transaction, the vice president now directly owns 33,800 shares in the company, valued at $2,555,618. This represents a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the completion of the transaction, the executive now owns 49,542 shares in the company, valued at $3,794,917.20. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,045 shares of company stock worth $1,110,402. 11.40% of the stock is currently owned by corporate insiders.

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Hedge Funds Weigh In On Cogent Communications

Hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its stake in Cogent Communications by 85.7% in the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company's stock worth $1,284,000 after acquiring an additional 7,803 shares in the last quarter. Consolidated Planning Corp bought a new position in Cogent Communications in the 3rd quarter worth about $630,000. PEAK6 Investments LLC bought a new position in Cogent Communications in the 3rd quarter worth about $1,720,000. Citigroup Inc. boosted its stake in shares of Cogent Communications by 56.8% during the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company's stock valued at $4,297,000 after purchasing an additional 20,510 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in shares of Cogent Communications by 136.5% during the third quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company's stock valued at $11,025,000 after purchasing an additional 83,816 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors.

Cogent Communications Stock Performance

Shares of CCOI stock traded up $0.69 during trading on Monday, hitting $71.59. The company's stock had a trading volume of 395,612 shares, compared to its average volume of 370,378. The company has a market cap of $3.51 billion, a PE ratio of 91.78 and a beta of 0.40. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The business has a fifty day moving average of $76.24 and a 200-day moving average of $77.00. Cogent Communications has a 52 week low of $50.80 and a 52 week high of $86.76.

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

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 5.62%. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. Cogent Communications's dividend payout ratio is currently -93.49%.

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.