Swiss National Bank Purchases 5,500 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Swiss National Bank increased its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,600 shares of the technology company's stock after acquiring an additional 5,500 shares during the quarter. Swiss National Bank owned about 0.19% of Cogent Communications worth $7,060,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Cogent Communications by 1.3% during the 3rd quarter. State Street Corp now owns 1,750,810 shares of the technology company's stock worth $132,921,000 after acquiring an additional 22,738 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Cogent Communications by 0.3% during the third quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company's stock valued at $117,107,000 after purchasing an additional 5,307 shares in the last quarter. Geode Capital Management LLC lifted its position in Cogent Communications by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,014,322 shares of the technology company's stock valued at $77,021,000 after purchasing an additional 3,093 shares during the last quarter. FMR LLC grew its stake in shares of Cogent Communications by 11.0% in the 3rd quarter. FMR LLC now owns 800,758 shares of the technology company's stock worth $60,793,000 after buying an additional 79,474 shares in the last quarter. Finally, Reaves W H & Co. Inc. increased its holdings in shares of Cogent Communications by 17.1% in the 4th quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company's stock worth $53,835,000 after buying an additional 101,956 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

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Cogent Communications Trading Down 1.3 %

Shares of NASDAQ:CCOI traded down $0.82 during trading hours on Wednesday, hitting $63.07. 572,536 shares of the company's stock traded hands, compared to its average volume of 423,054. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The business has a fifty day moving average price of $74.84 and a 200-day moving average price of $76.80. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.76. The firm has a market capitalization of $3.09 billion, a P/E ratio of 80.86 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 36.31% and a net margin of 3.73%. Equities analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $1.005 dividend. This represents a $4.02 annualized dividend and a yield of 6.37%. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. Cogent Communications's payout ratio is -93.49%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Cogent Communications

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.96, for a total transaction of $103,968.00. Following the completion of the sale, the director now directly owns 10,147 shares of the company's stock, valued at approximately $740,325.12. This trade represents a 12.31 % 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 valued at $840,878 in the last three months. Company insiders own 11.40% of the company's stock.

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.