Copeland Capital Management LLC Lowers Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Copeland Capital Management LLC trimmed its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 20.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 759,279 shares of the technology company's stock after selling 199,375 shares during the period. Copeland Capital Management LLC owned about 1.55% of Cogent Communications worth $57,645,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Cogent Communications by 12.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 218,174 shares of the technology company's stock worth $16,594,000 after buying an additional 24,185 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of Cogent Communications in the fourth quarter worth approximately $405,000. Capital Insight Partners LLC increased its stake in shares of Cogent Communications by 6.7% in the first quarter. Capital Insight Partners LLC now owns 62,138 shares of the technology company's stock worth $4,059,000 after buying an additional 3,927 shares during the period. BNP Paribas Financial Markets raised its holdings in Cogent Communications by 1.1% during the 1st quarter. BNP Paribas Financial Markets now owns 38,040 shares of the technology company's stock valued at $2,485,000 after buying an additional 419 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Cogent Communications by 25.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,021 shares of the technology company's stock valued at $785,000 after buying an additional 2,454 shares during the period. Institutional investors own 92.45% of the company's stock.

Insider Activity at Cogent Communications

In related news, VP John B. Chang sold 1,400 shares of the 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 sale, the vice president now directly owns 71,580 shares of the company's stock, valued at approximately $5,130,138.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cogent Communications news, Director Lewis H. Ferguson sold 1,550 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total value of $112,561.00. Following the completion of the transaction, the director now owns 17,748 shares of the company's stock, valued at approximately $1,288,859.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John B. Chang sold 1,400 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total transaction of $100,338.00. Following the completion of the sale, the vice president now owns 71,580 shares in the company, valued at $5,130,138.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,870 shares of company stock valued at $4,716,057 in the last 90 days. Corporate insiders own 11.40% of the company's stock.

Cogent Communications Stock Down 2.7 %

Cogent Communications stock traded down $2.27 on Tuesday, hitting $82.23. 304,449 shares of the stock traded hands, compared to its average volume of 445,828. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.00. The firm has a market cap of $4.03 billion, a P/E ratio of 3.34 and a beta of 0.41. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.43. The business's fifty day simple moving average is $74.69 and its 200 day simple moving average is $65.85.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.27) by $0.59. The company had revenue of $260.40 million during the quarter, compared to analysts' expectations of $264.32 million. Cogent Communications had a net margin of 4.26% and a negative return on equity of 32.14%. Cogent Communications's revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted ($0.13) EPS. As a group, sell-side analysts forecast that Cogent Communications Holdings, Inc. will post -4.46 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.985 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $3.94 annualized dividend and a dividend yield of 4.79%. This is an increase from Cogent Communications's previous quarterly dividend of $0.98. Cogent Communications's dividend payout ratio is presently 15.61%.

Analyst Ratings Changes

A number of research firms have issued reports on CCOI. JPMorgan Chase & Co. boosted their price objective on shares of Cogent Communications from $70.00 to $76.00 and gave the company a "neutral" rating in a research report on Monday, August 12th. TD Cowen increased their price objective on Cogent Communications from $78.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Bank of America cut Cogent Communications from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $75.00 to $65.00 in a research note on Wednesday, August 21st. Citigroup raised their price target on Cogent Communications from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. Finally, KeyCorp lifted their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $77.14.

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.