Sei Investments Co. Lowers Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Sei Investments Co. lessened its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 4.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 163,387 shares of the technology company's stock after selling 8,259 shares during the quarter. Sei Investments Co. owned approximately 0.33% of Cogent Communications worth $12,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of Cogent Communications during the 3rd quarter valued at about $30,000. Quest Partners LLC bought a new position in Cogent Communications during the third quarter valued at approximately $46,000. Blue Trust Inc. grew its holdings in Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after buying an additional 218 shares in the last quarter. BankPlus Trust Department bought a new stake in Cogent Communications in the 4th quarter worth approximately $63,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Cogent Communications by 132.1% during the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock worth $67,000 after acquiring an additional 498 shares in the last quarter. Institutional investors own 92.45% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Cogent Communications to a "sell" rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $80.25.

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Insider Activity at Cogent Communications

In other news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction on Friday, March 7th. The stock was sold at an average price of $72.57, for a total transaction of $174,168.00. Following the completion of the sale, the vice president now directly owns 41,000 shares in the company, valued at approximately $2,975,370. This trade represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 956 shares of the company'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 completion of the transaction, the director now owns 18,652 shares in the company, valued at approximately $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 worth $840,878 in the last quarter. 11.40% of the stock is owned by company insiders.

Cogent Communications Trading Down 2.5 %

NASDAQ CCOI traded down $1.57 on Thursday, hitting $60.08. 528,634 shares of the stock were exchanged, compared to its average volume of 436,605. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The firm has a market capitalization of $2.97 billion, a P/E ratio of 77.03 and a beta of 0.45. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a fifty day moving average price of $73.19 and a two-hundred day moving average price of $76.24.

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

Cogent Communications Increases Dividend

The firm 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 is a positive change from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend was Thursday, March 13th. Cogent Communications's dividend payout ratio (DPR) is currently -93.49%.

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.