Cogent Communications Holdings, Inc. (NASDAQ:CCOI) had its price objective lifted by Jefferies Group LLC from $39.00 to $43.00 in a report released on Friday, November 3rd. They currently have a hold rating on the technology company’s stock. Jefferies Group also issued estimates for Cogent Communications Holdings’ Q4 2017 earnings at $0.12 EPS, FY2017 earnings at $0.39 EPS, Q1 2018 earnings at $0.10 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.17 EPS and Q4 2018 earnings at $0.22 EPS.
CCOI has been the subject of a number of other research reports. Deutsche Bank AG boosted their price target on Cogent Communications Holdings from $48.00 to $51.00 and gave the company a buy rating in a research report on Tuesday, October 10th. Zacks Investment Research downgraded Cogent Communications Holdings from a buy rating to a hold rating in a research report on Tuesday, October 10th. SunTrust Banks, Inc. downgraded Cogent Communications Holdings from a buy rating to a hold rating and set a $43.00 target price for the company. in a research report on Friday, November 3rd. Wells Fargo & Company downgraded Cogent Communications Holdings from an outperform rating to a market perform rating and upped their target price for the stock from $46.00 to $48.00 in a research report on Monday, October 9th. Finally, Raymond James Financial, Inc. reaffirmed an underperform rating on shares of Cogent Communications Holdings in a research report on Friday, November 3rd. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $43.77.
Shares of Cogent Communications Holdings (CCOI) traded down $0.65 during trading hours on Friday, hitting $45.80. The stock had a trading volume of 318,299 shares, compared to its average volume of 334,076. The stock has a market capitalization of $2,100.00, a P/E ratio of 134.72, a P/E/G ratio of 12.65 and a beta of 0.65. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22. Cogent Communications Holdings has a twelve month low of $35.75 and a twelve month high of $54.85.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.92 annualized dividend and a yield of 4.19%. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.46. Cogent Communications Holdings’s dividend payout ratio is presently 548.57%.
In other news, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $46.60, for a total transaction of $46,600.00. Following the completion of the transaction, the vice president now directly owns 41,052 shares of the company’s stock, valued at $1,913,023.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Raymond B. Kummer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $45.78, for a total value of $91,560.00. Following the transaction, the vice president now directly owns 59,140 shares of the company’s stock, valued at $2,707,429.20. The disclosure for this sale can be found here. Insiders have sold 17,716 shares of company stock worth $828,227 in the last 90 days. 9.48% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CCOI. BlackRock Inc. grew its holdings in shares of Cogent Communications Holdings by 125,208.8% during the first quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock valued at $213,356,000 after purchasing an additional 4,952,008 shares during the last quarter. River Road Asset Management LLC grew its holdings in Cogent Communications Holdings by 215.9% in the 3rd quarter. River Road Asset Management LLC now owns 693,363 shares of the technology company’s stock worth $33,905,000 after buying an additional 473,909 shares in the last quarter. Jennison Associates LLC grew its holdings in Cogent Communications Holdings by 25.3% in the 3rd quarter. Jennison Associates LLC now owns 2,340,837 shares of the technology company’s stock worth $114,467,000 after buying an additional 473,088 shares in the last quarter. Copeland Capital Management LLC bought a new position in Cogent Communications Holdings in the 2nd quarter worth approximately $10,759,000. Finally, First Trust Advisors LP grew its holdings in Cogent Communications Holdings by 23.0% in the 2nd quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock worth $56,685,000 after buying an additional 264,597 shares in the last quarter. 92.71% of the stock is owned by institutional investors.
About Cogent Communications Holdings
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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