Texas Permanent School Fund Has $1.27 Million Position in Cogent Communications Holdings Inc (CCOI)

Texas Permanent School Fund reduced its stake in Cogent Communications Holdings Inc (NASDAQ:CCOI) by 7.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 27,958 shares of the technology company’s stock after selling 2,224 shares during the quarter. Texas Permanent School Fund owned approximately 0.06% of Cogent Communications worth $1,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Amalgamated Bank lifted its holdings in Cogent Communications by 4.8% in the 2nd quarter. Amalgamated Bank now owns 5,756 shares of the technology company’s stock worth $231,000 after purchasing an additional 265 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Cogent Communications by 0.9% in the 2nd quarter. Teachers Advisors LLC now owns 76,177 shares of the technology company’s stock worth $3,055,000 after purchasing an additional 650 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in Cogent Communications by 63.4% in the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,024 shares during the last quarter. Legal & General Group Plc lifted its holdings in Cogent Communications by 1.4% in the 3rd quarter. Legal & General Group Plc now owns 82,204 shares of the technology company’s stock worth $4,021,000 after purchasing an additional 1,121 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Cogent Communications by 42.4% in the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock worth $203,000 after purchasing an additional 1,240 shares during the last quarter. Hedge funds and other institutional investors own 94.11% of the company’s stock.

Several research analysts have commented on the company. Zacks Investment Research downgraded Cogent Communications from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Raymond James Financial reaffirmed an “underperform” rating on shares of Cogent Communications in a research report on Friday, November 3rd. BidaskClub downgraded Cogent Communications from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. SunTrust Banks downgraded Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research report on Friday, November 3rd. Finally, Jefferies Group lifted their price target on Cogent Communications from $39.00 to $43.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.27.

Cogent Communications Holdings Inc (CCOI) opened at $41.70 on Monday. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of -8.84. The company has a market capitalization of $1,916.32, a P/E ratio of 115.83, a price-to-earnings-growth ratio of 5.90 and a beta of 0.49. Cogent Communications Holdings Inc has a 1 year low of $37.85 and a 1 year high of $54.85.

In other news, Director Richard Liebhaber acquired 700 shares of the stock in a transaction dated Tuesday, December 5th. The shares were acquired at an average cost of $45.30 per share, for a total transaction of $31,710.00. Following the completion of the transaction, the director now owns 71,045 shares in the company, valued at approximately $3,218,338.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $46.51, for a total value of $139,530.00. Following the sale, the vice president now owns 47,240 shares in the company, valued at $2,197,132.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,250 shares of company stock worth $611,435. Company insiders own 9.48% of the company’s stock.

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About Cogent Communications

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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Institutional Ownership by Quarter for Cogent Communications (NASDAQ:CCOI)

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