Intech Investment Management LLC Purchases 23,534 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Intech Investment Management LLC lifted its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 139.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,442 shares of the technology company's stock after buying an additional 23,534 shares during the quarter. Intech Investment Management LLC owned about 0.08% of Cogent Communications worth $3,117,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. PEAK6 Investments LLC acquired a new stake in shares of Cogent Communications in the 3rd quarter valued at $1,720,000. Citigroup Inc. boosted its holdings in Cogent Communications by 56.8% during the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company's stock worth $4,297,000 after buying an additional 20,510 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Cogent Communications by 136.5% in the 3rd quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company's stock valued at $11,025,000 after acquiring an additional 83,816 shares during the period. Atom Investors LP acquired a new position in Cogent Communications during the third quarter valued at approximately $4,565,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Cogent Communications by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 509,344 shares of the technology company's stock valued at $39,255,000 after buying an additional 11,858 shares in the last quarter. Institutional investors own 92.45% of the company's stock.

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Cogent Communications Stock Performance

Shares of CCOI traded down $0.16 during mid-day trading on Monday, reaching $68.15. The company's stock had a trading volume of 335,751 shares, compared to its average volume of 420,763. 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 Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The business has a 50-day simple moving average of $75.07 and a two-hundred day simple moving average of $76.89. The stock has a market cap of $3.34 billion, a P/E ratio of 87.37 and a beta of 0.45.

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

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's payout ratio is currently -93.49%.

Insider Activity

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now directly owns 103,000 shares of the company's stock, valued at approximately $7,422,180. This trade represents a 4.54 % 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 this hyperlink. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of Cogent Communications stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the transaction, the director now directly owns 10,147 shares of the company's stock, valued at $740,325.12. This represents a 12.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,681 shares of company stock valued at $840,878. 11.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $80.25.

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.