Invesco Ltd. Has $39.74 Million Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Invesco Ltd. decreased its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 515,641 shares of the technology company's stock after selling 89,441 shares during the quarter. Invesco Ltd. owned approximately 1.05% of Cogent Communications worth $39,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in Cogent Communications by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company's stock worth $394,182,000 after buying an additional 43,523 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cogent Communications by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,014,322 shares of the technology company's stock worth $77,021,000 after acquiring an additional 3,093 shares in the last quarter. Reaves W H & Co. Inc. increased its holdings in shares of Cogent Communications by 17.1% during the 4th quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company's stock valued at $53,835,000 after acquiring an additional 101,956 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Cogent Communications in the 4th quarter valued at approximately $39,845,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $39,255,000 after purchasing an additional 11,858 shares during the last quarter. Institutional investors own 92.45% of the company's stock.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CRO James Bubeck sold 2,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $71.67, for a total value of $143,340.00. Following the sale, the executive now owns 57,142 shares of the company's stock, valued at $4,095,367.14. The trade was a 3.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 956 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now directly owns 18,652 shares of the company's stock, valued at $1,293,702.72. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,681 shares of company stock valued at $840,878 in the last quarter. Corporate insiders own 11.40% of the company's stock.

Cogent Communications Stock Performance

Shares of CCOI traded down $0.35 during mid-day trading on Tuesday, hitting $51.15. The company's stock had a trading volume of 507,835 shares, compared to its average volume of 457,638. The stock's 50-day moving average is $65.56 and its two-hundred day moving average is $74.04. The firm has a market capitalization of $2.53 billion, a PE ratio of 65.58 and a beta of 0.69. 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 Holdings, Inc. has a one year low of $47.54 and a one year high of $86.76.

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

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a yield of 7.86%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 13th. Cogent Communications's payout ratio is currently -93.49%.

Analyst Upgrades and Downgrades

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