Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Acquired by Keybank National Association OH

Keybank National Association OH grew its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,446 shares of the technology company’s stock after acquiring an additional 354 shares during the quarter. Keybank National Association OH’s holdings in Cogent Communications were worth $497,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Ipswich Investment Management Co. Inc. lifted its holdings in shares of Cogent Communications by 0.5% during the third quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock worth $3,119,000 after purchasing an additional 185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Cogent Communications by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock worth $400,000 after purchasing an additional 212 shares during the period. Blue Trust Inc. lifted its holdings in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after purchasing an additional 218 shares during the period. KBC Group NV lifted its holdings in shares of Cogent Communications by 28.7% during the third quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock worth $111,000 after purchasing an additional 326 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Cogent Communications by 0.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 50,436 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 326 shares during the period. 92.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com raised Cogent Communications to a “sell” rating in a report on Monday, March 3rd. UBS Group assumed coverage on Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.25.

Insider Activity

In related news, VP Henry W. Kilmer sold 4,800 shares of Cogent Communications stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $75.61, for a total transaction of $362,928.00. Following the completion of the sale, the vice president now owns 33,800 shares in the company, valued at approximately $2,555,618. This trade represents a 12.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now owns 103,000 shares of the company’s stock, valued at approximately $7,422,180. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,125 shares of company stock worth $963,330 over the last 90 days. 11.40% of the stock is currently owned by corporate insiders.

Cogent Communications Trading Up 1.0 %

Shares of CCOI stock opened at $71.59 on Monday. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The stock has a market cap of $3.53 billion, a P/E ratio of 91.78 and a beta of 0.45. The business has a fifty day simple moving average of $76.16 and a 200-day simple moving average of $77.01. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business had revenue of $252.29 million during the quarter, compared to analysts’ expectations of $258.49 million. On average, analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a $1.005 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.62%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio (DPR) is currently -93.49%.

About Cogent Communications

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.