Nuveen Asset Management LLC lowered its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.9% during the first quarter, Holdings Channel reports. The fund owned 37,594 shares of the technology company’s stock after selling 1,135 shares during the period. Nuveen Asset Management LLC’s holdings in Cogent Communications Holdings were worth $1,618,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Cogent Communications Holdings during the fourth quarter valued at about $2,200,000. State Street Corp boosted its stake in Cogent Communications Holdings by 7.0% in the fourth quarter. State Street Corp now owns 946,478 shares of the technology company’s stock valued at $39,134,000 after buying an additional 62,053 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Cogent Communications Holdings by 164.0% in the fourth quarter. Guggenheim Capital LLC now owns 91,227 shares of the technology company’s stock valued at $3,772,000 after buying an additional 56,667 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Cogent Communications Holdings by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 22,070 shares of the technology company’s stock valued at $913,000 after buying an additional 1,330 shares during the last quarter. Finally, Norges Bank bought a new stake in Cogent Communications Holdings during the fourth quarter valued at about $13,374,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Shares of Cogent Communications Holdings, Inc. (CCOI) opened at 41.20 on Monday. Cogent Communications Holdings, Inc. has a 12 month low of $34.23 and a 12 month high of $45.25. The company has a 50-day moving average of $39.89 and a 200 day moving average of $41.55. The company has a market cap of $1.84 billion, a PE ratio of 121.18 and a beta of 0.73.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its earnings results on Thursday, May 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Cogent Communications Holdings had a negative return on equity of 33.66% and a net margin of 3.45%. The business had revenue of $117.20 million during the quarter, compared to the consensus estimate of $119.02 million. During the same period last year, the company earned $0.08 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts anticipate that Cogent Communications Holdings, Inc. will post $0.52 earnings per share for the current year.

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CCOI has been the topic of several recent analyst reports. Deutsche Bank AG initiated coverage on shares of Cogent Communications Holdings in a research report on Friday, March 24th. They set a “buy” rating and a $48.00 price objective on the stock. Citigroup Inc. lifted their price objective on shares of Cogent Communications Holdings from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, April 25th. Zacks Investment Research cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Cowen and Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 price objective on the stock. in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price objective on shares of Cogent Communications Holdings in a research report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $43.79.

In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $45.05, for a total value of $45,050.00. Following the completion of the sale, the vice president now directly owns 35,452 shares of the company’s stock, valued at approximately $1,597,112.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Raymond B. Kummer sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $44.84, for a total value of $134,520.00. The disclosure for this sale can be found here. Insiders sold a total of 18,183 shares of company stock valued at $754,868 over the last ninety days. Corporate insiders own 9.48% of the company’s stock.

Cogent Communications Holdings Company Profile

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 Holdings (NASDAQ:CCOI)

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