Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 513,006 shares of the technology company's stock after selling 38,024 shares during the period. Raymond James & Associates owned approximately 1.05% of Cogent Communications worth $38,947,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Cogent Communications in the 1st quarter valued at $26,000. Blue Trust Inc. raised its position in Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock valued at $31,000 after purchasing an additional 272 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Cogent Communications by 72.9% in the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock valued at $41,000 after buying an additional 226 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company's stock valued at $44,000 after purchasing an additional 441 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Cogent Communications by 207.0% during the third quarter. GAMMA Investing LLC now owns 660 shares of the technology company's stock worth $50,000 after buying an additional 445 shares in the last quarter. Institutional investors own 92.45% of the company's stock.

Cogent Communications Price Performance

Shares of NASDAQ:CCOI opened at $82.23 on Wednesday. The business has a fifty day moving average price of $74.90 and a 200-day moving average price of $65.99. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.00. The company has a debt-to-equity ratio of 4.43, a current ratio of 2.20 and a quick ratio of 2.20. The company has a market capitalization of $4.03 billion, a PE ratio of 3.26 and a beta of 0.41.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.59. The firm had revenue of $260.40 million during the quarter, compared to analyst estimates of $264.32 million. Cogent Communications had a net margin of 4.26% and a negative return on equity of 32.14%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.13) EPS. As a group, equities analysts expect that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders 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 yield of 4.79%. This is a boost from Cogent Communications's previous quarterly dividend of $0.98. Cogent Communications's payout ratio is presently 15.61%.

Insider Buying and Selling

In other Cogent Communications news, VP John B. Chang sold 1,400 shares of the company'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 sale, the vice president now directly owns 71,580 shares in the company, valued at $5,130,138.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CRO James Bubeck sold 1,920 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total transaction of $133,958.40. Following the transaction, the executive now directly owns 50,982 shares in the company, valued at approximately $3,557,014.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John B. Chang sold 1,400 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total value of $100,338.00. Following the completion of the sale, the vice president now directly owns 71,580 shares of the company's stock, valued at $5,130,138.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,870 shares of company stock worth $4,716,057. Corporate insiders own 11.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CCOI. JPMorgan Chase & Co. upped their price target 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 upped their target price on Cogent Communications from $78.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. KeyCorp raised their price target 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. Bank of America lowered shares of Cogent Communications from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $74.00 price target on shares of Cogent Communications in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $77.14.

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.