33,665 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Acquired by Royce & Associates LP

Royce & Associates LP acquired a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 33,665 shares of the technology company's stock, valued at approximately $2,556,000. Royce & Associates LP owned approximately 0.07% of Cogent Communications as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new position in Cogent Communications during the first quarter worth about $26,000. Blue Trust Inc. boosted its stake in shares of Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock worth $31,000 after buying an additional 272 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Cogent Communications by 72.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock worth $41,000 after buying an additional 226 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cogent Communications by 127.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company's stock valued at $44,000 after acquiring an additional 441 shares in the last quarter. Finally, GAMMA Investing LLC increased its position 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 valued at $50,000 after acquiring an additional 445 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CCOI. JPMorgan Chase & Co. boosted their price objective on Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. UBS Group initiated coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a "buy" rating and a $102.00 price target on the stock. Royal Bank of Canada restated an "outperform" rating and set a $74.00 price target on shares of Cogent Communications in a research report on Tuesday, September 3rd. The Goldman Sachs Group lifted their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, October 4th. Finally, TD Cowen increased their target price on shares of Cogent Communications from $78.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $80.25.

Cogent Communications Stock Performance

Shares of NASDAQ CCOI traded up $0.58 during midday trading on Wednesday, hitting $80.54. The company's stock had a trading volume of 64,663 shares, compared to its average volume of 437,316. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 102.51 and a beta of 0.40. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock has a fifty day moving average price of $78.54 and a 200 day moving average price of $68.40. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued its earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business had revenue of $257.20 million for the quarter, compared to analysts' expectations of $258.69 million. During the same quarter in the previous year, the firm posted ($1.13) EPS. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts forecast that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.995 per share. This is a boost from Cogent Communications's previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.98 dividend on an annualized basis and a yield of 4.94%. Cogent Communications's dividend payout ratio is 505.13%.

Insiders Place Their Bets

In other news, VP John B. Chang sold 1,400 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.67, for a total value of $100,338.00. Following the transaction, the vice president now owns 71,580 shares of the company's stock, valued at approximately $5,130,138.60. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction on Wednesday, September 4th. The stock was 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 $3,557,014.14. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,346 shares of company stock worth $5,077,344 in the last quarter. 11.00% of the stock is owned by company insiders.

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.