Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP John B. Chang Sells 1,400 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.67, for a total value of $100,338.00. Following the completion of the sale, the vice president now owns 71,580 shares of the company’s stock, valued at approximately $5,130,138.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cogent Communications Trading Up 1.3 %

Shares of CCOI opened at $72.90 on Friday. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.00. The stock’s 50-day moving average is $69.03 and its two-hundred day moving average is $64.07. The company has a debt-to-equity ratio of 4.43, a current ratio of 2.20 and a quick ratio of 2.20. The stock has a market cap of $3.57 billion, a PE ratio of 2.89 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.59. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The firm had revenue of $260.40 million for the quarter, compared to analyst estimates of $264.32 million. During the same period in the previous year, the company posted ($0.13) EPS. Cogent Communications’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.46 earnings per share for the current fiscal 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 is an increase from Cogent Communications’s previous quarterly dividend of $0.98. This represents a $3.94 annualized dividend and a dividend yield of 5.40%. Cogent Communications’s dividend payout ratio is 15.61%.

Institutional Investors Weigh In On Cogent Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCOI. Taylor Frigon Capital Management LLC increased its holdings in Cogent Communications by 1.1% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company’s stock worth $1,095,000 after purchasing an additional 202 shares during the last quarter. Truist Financial Corp lifted its stake in Cogent Communications by 5.9% during the fourth quarter. Truist Financial Corp now owns 4,221 shares of the technology company’s stock worth $321,000 after purchasing an additional 237 shares during the last quarter. Covestor Ltd boosted its holdings in Cogent Communications by 17.2% in the first quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock worth $123,000 after purchasing an additional 276 shares during the period. Arizona State Retirement System increased its stake in Cogent Communications by 2.7% during the second quarter. Arizona State Retirement System now owns 12,354 shares of the technology company’s stock valued at $697,000 after purchasing an additional 327 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Cogent Communications during the first quarter worth $26,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CCOI shares. The Goldman Sachs Group boosted their target price on shares of Cogent Communications from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, August 9th. TD Cowen upped their price objective on Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. Bank of America lowered Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. Finally, KeyCorp lifted their price objective 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 equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.86.

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.