Intech Investment Management LLC Has $1.28 Million Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Intech Investment Management LLC raised its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 85.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,908 shares of the technology company’s stock after buying an additional 7,803 shares during the period. Intech Investment Management LLC’s holdings in Cogent Communications were worth $1,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ipswich Investment Management Co. Inc. boosted its holdings in shares of Cogent Communications by 0.5% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock valued at $3,119,000 after acquiring an additional 185 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its stake in shares of Cogent Communications by 1.1% during the second quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company’s stock valued at $1,095,000 after purchasing an additional 202 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after purchasing an additional 226 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Cogent Communications by 5.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company’s stock valued at $378,000 after buying an additional 262 shares during the period. Finally, Blue Trust Inc. raised its holdings in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after buying an additional 272 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CCOI shares. TD Cowen lifted their price target on shares of Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 9th. The Goldman Sachs Group upped their price target on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. increased their price target on Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. 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. Finally, Bank of America lowered shares of Cogent Communications from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $75.00 to $65.00 in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cogent Communications currently has an average rating of “Hold” and an average target price of $80.25.

Cogent Communications Stock Performance

Shares of CCOI opened at $82.50 on Wednesday. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The stock has a 50-day moving average of $79.45 and a 200-day moving average of $68.96. The company has a market cap of $4.04 billion, a PE ratio of 105.77 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.01. The company had revenue of $257.20 million for the quarter, compared to analysts’ expectations of $258.69 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. Cogent Communications’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business earned ($1.13) EPS. On average, equities research analysts predict that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.995 per share. The ex-dividend date of this dividend is Friday, November 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. This represents a $3.98 annualized dividend and a dividend yield of 4.82%. Cogent Communications’s payout ratio is presently 510.26%.

Insider Buying and Selling

In other news, Director Blake Bath sold 6,220 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $83.69, for a total value of $520,551.80. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $836,900. This represents a 38.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John B. Chang sold 2,280 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $80.41, for a total transaction of $183,334.80. Following the transaction, the vice president now directly owns 69,300 shares in the company, valued at $5,572,413. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,016 shares of company stock worth $1,116,135 in the last quarter. 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.