Boston Financial Mangement LLC Has $46.30 Million Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Boston Financial Mangement LLC raised its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 609,821 shares of the technology company's stock after acquiring an additional 16,527 shares during the quarter. Cogent Communications comprises approximately 1.4% of Boston Financial Mangement LLC's holdings, making the stock its 18th largest position. Boston Financial Mangement LLC owned about 1.24% of Cogent Communications worth $46,298,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in Cogent Communications by 1.1% in 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. Janney Montgomery Scott LLC increased its stake in shares of Cogent Communications by 25.7% in the first quarter. Janney Montgomery Scott LLC now owns 12,021 shares of the technology company's stock worth $785,000 after purchasing an additional 2,454 shares during the period. SG Americas Securities LLC lifted its position in shares of Cogent Communications by 265.9% during the 1st quarter. SG Americas Securities LLC now owns 7,805 shares of the technology company's stock worth $510,000 after purchasing an additional 5,672 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Cogent Communications by 294.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 39,009 shares of the technology company's stock valued at $2,548,000 after purchasing an additional 29,116 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in Cogent Communications by 14.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 27,699 shares of the technology company's stock valued at $1,810,000 after buying an additional 3,399 shares during the last quarter. Institutional investors and hedge funds own 92.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CCOI shares. Royal Bank of Canada reiterated an "outperform" rating and set a $74.00 target price on shares of Cogent Communications in a research note on Tuesday, September 3rd. The Goldman Sachs Group increased their target price on shares of Cogent Communications from $62.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. Bank of America cut Cogent Communications from a "neutral" rating to an "underperform" rating and cut their price target for the company from $75.00 to $65.00 in a report on Wednesday, August 21st. Citigroup lifted their price objective on Cogent Communications from $70.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, August 19th. Finally, KeyCorp upped their target price on Cogent Communications from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $77.14.

Insider Transactions at Cogent Communications

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the firm's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total value of $133,958.40. Following the completion of the sale, the executive now owns 50,982 shares in the company, valued at approximately $3,557,014.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Lewis H. Ferguson sold 1,550 shares of Cogent Communications stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total transaction of $112,561.00. Following the completion of the sale, the director now owns 17,748 shares in the company, valued at $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 is available through this link. Also, 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 completion of the transaction, the executive now owns 50,982 shares in the company, valued at $3,557,014.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,870 shares of company stock valued at $4,716,057 in the last three months. 11.40% of the stock is owned by corporate insiders.

Cogent Communications Price Performance

NASDAQ:CCOI traded up $0.12 during trading hours on Tuesday, reaching $81.72. The company had a trading volume of 236,316 shares, compared to its average volume of 442,597. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 4.43. The stock has a 50-day moving average of $75.56 and a two-hundred day moving average of $66.47. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.00. The firm has a market capitalization of $4.01 billion, a PE ratio of 3.23 and a beta of 0.41.

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

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.82%. This is a boost from Cogent Communications's previous quarterly dividend of $0.98. Cogent Communications's payout ratio is 15.61%.

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.