GLOBALT Investments LLC GA Takes $3.96 Million Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

GLOBALT Investments LLC GA purchased a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 52,117 shares of the technology company's stock, valued at approximately $3,957,000. GLOBALT Investments LLC GA owned about 0.11% of Cogent Communications as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new stake in shares of Cogent Communications during the 1st quarter worth $26,000. Blue Trust Inc. boosted its position in Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock worth $31,000 after purchasing an additional 272 shares during the period. Hexagon Capital Partners LLC boosted 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 during the period. Quest Partners LLC purchased a new stake in Cogent Communications during the 3rd quarter worth $46,000. Finally, GAMMA Investing LLC boosted its position in Cogent Communications by 207.0% during the 3rd quarter. GAMMA Investing LLC now owns 660 shares of the technology company's stock worth $50,000 after purchasing an additional 445 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cogent Communications

In related news, CEO Dave Schaeffer sold 60,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total transaction of $4,369,200.00. Following the completion of the sale, the chief executive officer now directly owns 4,373,038 shares in the company, valued at approximately $318,444,627.16. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lewis H. Ferguson sold 1,550 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total transaction of $112,561.00. Following the sale, the director now owns 17,748 shares of the company's stock, valued at $1,288,859.76. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,500 shares of company stock worth $5,008,175. 11.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CCOI shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $74.00 price target on shares of Cogent Communications in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price target on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. The Goldman Sachs Group upped their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, October 4th. Citigroup upped 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. Finally, KeyCorp upped their price objective on shares of Cogent Communications from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cogent Communications has an average rating of "Hold" and an average price target of $80.25.

Cogent Communications Stock Performance

CCOI traded up $0.35 on Monday, hitting $79.75. 199,341 shares of the company's stock were exchanged, compared to its average volume of 438,910. The firm has a market cap of $3.91 billion, a PE ratio of 101.79 and a beta of 0.40. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The stock has a fifty day moving average of $78.20 and a two-hundred day moving average of $68.17. 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 (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, research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.54 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.995 dividend. The ex-dividend date is Friday, November 22nd. This represents a $3.98 annualized dividend and a dividend yield of 4.99%. This is a positive change from Cogent Communications's previous quarterly dividend of $0.99. Cogent Communications's dividend payout ratio (DPR) is presently 505.13%.

Cogent Communications 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.