Copeland Capital Management LLC Sells 752,273 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Copeland Capital Management LLC cut its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 99.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,006 shares of the technology company's stock after selling 752,273 shares during the quarter. Copeland Capital Management LLC's holdings in Cogent Communications were worth $540,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Insight Partners LLC lifted its stake in Cogent Communications by 4.0% during the 4th quarter. Capital Insight Partners LLC now owns 65,476 shares of the technology company's stock worth $5,046,000 after acquiring an additional 2,524 shares in the last quarter. KBC Group NV lifted its position in shares of Cogent Communications by 59.0% during the fourth quarter. KBC Group NV now owns 2,326 shares of the technology company's stock worth $179,000 after purchasing an additional 863 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Cogent Communications by 53.8% in the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after purchasing an additional 218 shares during the period. Phillips Wealth Planners LLC grew its holdings in shares of Cogent Communications by 6.6% in the fourth quarter. Phillips Wealth Planners LLC now owns 5,645 shares of the technology company's stock valued at $405,000 after purchasing an additional 349 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Cogent Communications by 16.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 15,841 shares of the technology company's stock worth $1,221,000 after buying an additional 2,235 shares during the period. Hedge funds and other institutional investors own 92.45% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group assumed coverage on Cogent Communications in a research report on Thursday, November 14th. They set a "buy" rating and a $102.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cogent Communications presently has an average rating of "Hold" and a consensus price target of $80.25.

Insider Buying and Selling

In related news, VP Henry W. Kilmer sold 4,800 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $75.61, for a total transaction of $362,928.00. Following the completion of the transaction, the vice president now owns 33,800 shares of the company's stock, valued at $2,555,618. This trade represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Blake Bath sold 6,220 shares of Cogent Communications stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $83.69, for a total transaction of $520,551.80. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $836,900. This represents a 38.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,136 shares of company stock valued at $1,939,749. Insiders own 11.00% of the company's stock.

Cogent Communications Trading Up 0.5 %

NASDAQ:CCOI traded up $0.40 during trading hours on Thursday, reaching $79.58. 226,055 shares of the company were exchanged, compared to its average volume of 345,469. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The stock has a 50 day simple moving average of $75.77 and a 200 day simple moving average of $75.66. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 102.03 and a beta of 0.40. 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 posted its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts' consensus estimates of ($1.34) by $0.01. The business had revenue of $257.20 million for the quarter, compared to analysts' expectations of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.13) earnings per share. As a group, analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

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.