Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Access Financial Services Inc.

Access Financial Services Inc. trimmed its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,176 shares of the technology company’s stock after selling 1,394 shares during the quarter. Access Financial Services Inc.’s holdings in Cogent Communications were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System grew its position in shares of Cogent Communications by 1.3% in the third quarter. Arizona State Retirement System now owns 12,379 shares of the technology company’s stock valued at $766,000 after purchasing an additional 156 shares during the period. 1832 Asset Management L.P. grew its position in shares of Cogent Communications by 70.0% in the second quarter. 1832 Asset Management L.P. now owns 408 shares of the technology company’s stock valued at $27,000 after purchasing an additional 168 shares during the period. Creative Planning boosted its position in Cogent Communications by 3.1% during the fourth quarter. Creative Planning now owns 6,123 shares of the technology company’s stock worth $350,000 after acquiring an additional 186 shares during the last quarter. UBS Group AG boosted its position in Cogent Communications by 9.0% during the third quarter. UBS Group AG now owns 2,685 shares of the technology company’s stock worth $166,000 after acquiring an additional 222 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its position in Cogent Communications by 5.8% during the first quarter. First Republic Investment Management Inc. now owns 4,038 shares of the technology company’s stock worth $257,000 after acquiring an additional 223 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Dave Schaeffer sold 30,000 shares of Cogent Communications stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $67.52, for a total value of $2,025,600.00. Following the transaction, the chief executive officer now directly owns 4,679,377 shares of the company’s stock, valued at approximately $315,951,535.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cogent Communications news, CEO Dave Schaeffer sold 30,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $67.52, for a total transaction of $2,025,600.00. Following the transaction, the chief executive officer now directly owns 4,679,377 shares of the company’s stock, valued at approximately $315,951,535.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction on Friday, March 1st. The shares were sold at an average price of $76.62, for a total transaction of $147,110.40. Following the completion of the transaction, the executive now owns 54,822 shares in the company, valued at $4,200,461.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,320 shares of company stock valued at $4,669,997. 11.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on CCOI shares. KeyCorp lifted their target price on shares of Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. StockNews.com downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. TD Cowen boosted their price target on shares of Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. TheStreet raised shares of Cogent Communications from a “c+” rating to a “b” rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cogent Communications from $74.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $77.57.

Cogent Communications Trading Up 0.8 %

NASDAQ CCOI opened at $65.33 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.24. Cogent Communications Holdings, Inc. has a 52 week low of $57.35 and a 52 week high of $86.00. The stock has a market capitalization of $3.10 billion, a PE ratio of 2.44 and a beta of 0.41. The firm has a 50 day moving average of $72.77 and a two-hundred day moving average of $69.51.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.79. Cogent Communications had a net margin of 135.34% and a negative return on equity of 23.66%. The firm had revenue of $272.10 million for the quarter, compared to analyst estimates of $275.82 million. As a group, research analysts expect that Cogent Communications Holdings, Inc. will post -3.32 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 9th. Shareholders of record on Friday, March 15th will be paid a $0.965 dividend. The ex-dividend date is Thursday, March 14th. This represents a $3.86 dividend on an annualized basis and a yield of 5.91%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.96. Cogent Communications’s payout ratio is currently 14.43%.

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.