Raymond James Trust N.A. Increases Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Raymond James Trust N.A. boosted its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,171 shares of the technology company’s stock after purchasing an additional 418 shares during the quarter. Raymond James Trust N.A.’s holdings in Cogent Communications were worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CCOI. EntryPoint Capital LLC purchased a new position in shares of Cogent Communications during the first quarter valued at $26,000. Blue Trust Inc. increased its position in Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Cogent Communications by 72.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after purchasing an additional 441 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Cogent Communications during the third quarter valued at approximately $46,000. 92.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. KeyCorp upped their target price on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. TD Cowen lifted their target price on Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America lowered shares of Cogent Communications from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $75.00 to $65.00 in a research report on Wednesday, August 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of Cogent Communications in a research report on Tuesday, September 3rd. Finally, Citigroup increased their target price on shares of Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cogent Communications presently has an average rating of “Hold” and a consensus target price of $80.25.

Insider Activity

In other news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $69.77, for a total value of $133,958.40. Following the completion of the transaction, the executive now owns 50,982 shares of the company’s stock, valued at $3,557,014.14. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Blake Bath sold 6,220 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.69, for a total value of $520,551.80. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $836,900. This trade represents a 38.35 % 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 valued at $1,116,135 in the last ninety days. Insiders own 11.40% of the company’s stock.

Cogent Communications Trading Down 0.2 %

NASDAQ:CCOI opened at $83.02 on Tuesday. The company has a market capitalization of $4.07 billion, a P/E ratio of 106.44 and a beta of 0.40. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The firm has a fifty day simple moving average of $79.45 and a 200-day simple moving average of $68.96.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.01. The company had revenue of $257.20 million during 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%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.13) EPS. On average, equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.54 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.995 per share. This represents a $3.98 annualized dividend and a yield of 4.79%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, November 22nd. Cogent Communications’s payout ratio is presently 510.26%.

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.