Brokerages Set Cogent Communications Holdings, Inc. (NASDAQ:CCOI) PT at $77.14

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) have received an average rating of "Hold" from the seven research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $77.14.

CCOI has been the topic of several research reports. Citigroup increased their price objective on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. Bank of America downgraded shares of Cogent Communications from a "neutral" rating to an "underperform" rating and cut their price target for the company from $75.00 to $65.00 in a report on Wednesday, August 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $74.00 target price on shares of Cogent Communications in a research note on Tuesday, September 3rd. KeyCorp raised their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 27th. Finally, The Goldman Sachs Group upped their target price on shares of Cogent Communications from $62.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, October 4th.

Insider Activity at Cogent Communications

In related news, Director Sheryl Lynn Kennedy sold 1,350 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $80.58, for a total value of $108,783.00. Following the completion of the transaction, the director now owns 10,318 shares in the company, valued at $831,424.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.67, for a total value of $100,338.00. Following the completion of the sale, the vice president now directly owns 71,580 shares in the company, valued at $5,130,138.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheryl Lynn Kennedy sold 1,350 shares of Cogent Communications stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.58, for a total value of $108,783.00. Following the completion of the sale, the director now owns 10,318 shares of the company's stock, valued at approximately $831,424.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,500 shares of company stock valued at $5,008,175 in the last three months. Corporate insiders own 11.40% of the company's stock.

Institutional Trading of Cogent Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCOI. Janney Montgomery Scott LLC grew its position in shares of Cogent Communications by 25.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,021 shares of the technology company's stock worth $785,000 after buying an additional 2,454 shares during the period. SG Americas Securities LLC grew its position in shares of Cogent Communications by 265.9% during the 1st quarter. SG Americas Securities LLC now owns 7,805 shares of the technology company's stock worth $510,000 after buying an additional 5,672 shares during the period. Sei Investments Co. grew its position in shares of Cogent Communications by 1.3% during the 1st quarter. Sei Investments Co. now owns 92,427 shares of the technology company's stock worth $6,038,000 after buying an additional 1,200 shares during the period. Headlands Technologies LLC acquired a new position in shares of Cogent Communications during the 1st quarter worth about $136,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in 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 acquiring an additional 8,223 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Cogent Communications Stock Down 0.5 %

Shares of Cogent Communications stock traded down $0.40 during trading on Wednesday, reaching $78.64. The company had a trading volume of 314,203 shares, compared to its average volume of 440,658. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 101.60 and a beta of 0.40. The firm's fifty day moving average is $77.79 and its 200-day moving average is $67.88. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. Cogent Communications has a fifty-two week low of $50.80 and a fifty-two week high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.01. The firm had revenue of $257.20 million for the quarter, compared to analyst estimates of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. Cogent Communications's quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.13) earnings per share. On average, analysts anticipate that Cogent Communications will post -4.54 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.995 dividend. This is an increase from Cogent Communications's previous quarterly dividend of $0.99. This represents a $3.98 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Friday, November 22nd. Cogent Communications's payout ratio is presently 505.13%.

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.