Intech Investment Management LLC Has $1.28 Million Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Intech Investment Management LLC increased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 85.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,908 shares of the technology company's stock after acquiring an additional 7,803 shares during the quarter. Intech Investment Management LLC's holdings in Cogent Communications were worth $1,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCOI. Moran Wealth Management LLC boosted its position in shares of Cogent Communications by 2.2% in the third quarter. Moran Wealth Management LLC now owns 42,354 shares of the technology company's stock valued at $3,216,000 after acquiring an additional 903 shares during the period. Advisors Asset Management Inc. boosted its holdings in Cogent Communications by 1.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 191,331 shares of the technology company's stock valued at $14,526,000 after purchasing an additional 3,215 shares during the period. GLOBALT Investments LLC GA acquired a new stake in Cogent Communications in the 3rd quarter worth $3,957,000. Quest Partners LLC bought a new position in shares of Cogent Communications during the 3rd quarter worth about $46,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Cogent Communications by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 1,039,458 shares of the technology company's stock valued at $78,916,000 after buying an additional 4,197 shares during the last quarter. Institutional investors and hedge funds own 92.45% of the company's stock.

Insiders Place Their Bets

In related news, VP John B. Chang sold 1,400 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.67, for a total transaction of $100,338.00. Following the transaction, the vice president now owns 71,580 shares in the company, valued at $5,130,138.60. This represents a 1.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Blake Bath sold 6,220 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.69, for a total transaction of $520,551.80. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $836,900. This represents a 38.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,016 shares of company stock valued at $1,116,135. 11.40% of the stock is currently owned by corporate insiders.

Cogent Communications Stock Down 0.6 %

CCOI opened at $82.50 on Wednesday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 105.77 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The firm's 50-day simple moving average is $79.45 and its 200-day simple moving average is $68.96. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued 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. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $257.20 million for the quarter, compared to analysts' expectations of $258.69 million. During the same period in the prior year, the firm earned ($1.13) earnings per share. The company's quarterly revenue was down 6.6% compared to the same quarter last year. Equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.995 per share. This represents a $3.98 dividend on an annualized basis and a yield of 4.82%. This is a boost from Cogent Communications's previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 22nd. Cogent Communications's dividend payout ratio (DPR) is currently 510.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CCOI shares. Royal Bank of Canada reissued an "outperform" rating and set a $74.00 target price on shares of Cogent Communications in a research report on Tuesday, September 3rd. 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 on the stock. JPMorgan Chase & Co. raised their target price on Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. Bank of America lowered shares of Cogent Communications from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $75.00 to $65.00 in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group raised their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, October 4th. Two 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $80.25.

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.