Victory Capital Management Inc. Has $3.78 Million Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Victory Capital Management Inc. trimmed its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 64.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,033 shares of the technology company's stock after selling 89,302 shares during the period. Victory Capital Management Inc. owned about 0.10% of Cogent Communications worth $3,779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC increased its stake in shares of Cogent Communications by 85.7% during the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company's stock worth $1,284,000 after purchasing an additional 7,803 shares during the last quarter. PEAK6 Investments LLC acquired a new position in Cogent Communications during the third quarter worth $1,720,000. Citigroup Inc. raised its holdings in Cogent Communications by 56.8% during the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company's stock valued at $4,297,000 after buying an additional 20,510 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Cogent Communications by 136.5% in the third quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company's stock worth $11,025,000 after buying an additional 83,816 shares during the last quarter. Finally, Atom Investors LP bought a new stake in shares of Cogent Communications during the 3rd quarter worth about $4,565,000. Institutional investors and hedge funds own 92.45% of the company's stock.

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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 value of $174,168.00. Following the completion of the sale, the vice president now directly owns 41,000 shares of the company's stock, valued at approximately $2,975,370. This trade represents a 5.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at $7,422,180. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,681 shares of company stock valued at $840,878 over the last quarter. Corporate insiders own 11.40% of the company's stock.

Cogent Communications Price Performance

NASDAQ:CCOI traded up $0.19 during trading hours on Wednesday, reaching $70.54. The company had a trading volume of 195,003 shares, compared to its average volume of 421,960. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock has a 50-day moving average of $75.28 and a two-hundred day moving average of $76.90. The firm has a market capitalization of $3.48 billion, a PE ratio of 90.44 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.31. The firm had revenue of $252.29 million during 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%. Analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend is Thursday, March 13th. Cogent Communications's dividend payout ratio is -93.49%.

Wall Street Analysts Forecast Growth

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

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.