TimesSquare Capital Management LLC trimmed its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 19.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 762,765 shares of the technology company’s stock after selling 184,000 shares during the quarter. TimesSquare Capital Management LLC owned about 1.66% of Cogent Communications worth $37,299,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CCOI. River Road Asset Management LLC raised its holdings in shares of Cogent Communications by 215.9% in the third quarter. River Road Asset Management LLC now owns 693,363 shares of the technology company’s stock valued at $33,905,000 after buying an additional 473,909 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Cogent Communications by 25.3% in the third quarter. Jennison Associates LLC now owns 2,340,837 shares of the technology company’s stock valued at $114,467,000 after buying an additional 473,088 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Cogent Communications by 23.0% in the second quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock valued at $56,685,000 after buying an additional 264,597 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Cogent Communications by 13.5% in the second quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock valued at $82,550,000 after buying an additional 245,100 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Cogent Communications by 3.5% in the second quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock valued at $205,670,000 after buying an additional 172,987 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

In other news, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $46.60, for a total transaction of $46,600.00. Following the sale, the vice president now owns 41,052 shares in the company, valued at approximately $1,913,023.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Timothy G. Oneill sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $48.75, for a total value of $97,500.00. Following the sale, the vice president now owns 39,052 shares in the company, valued at approximately $1,903,785. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,716 shares of company stock valued at $828,227. Insiders own 9.48% of the company’s stock.

Several brokerages have weighed in on CCOI. Off Wall Street began coverage on Cogent Communications in a report on Monday, July 31st. They set a “sell” rating and a $29.00 price objective for the company. KeyCorp reissued a “hold” rating on shares of Cogent Communications in a report on Wednesday, October 11th. Cowen Inc reissued a “hold” rating and set a $46.00 price objective on shares of Cogent Communications in a report on Friday, August 4th. Macquarie cut Cogent Communications from a “neutral” rating to an “underperform” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Cogent Communications from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Monday, October 9th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Cogent Communications has a consensus rating of “Hold” and a consensus target price of $43.77.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) opened at $47.05 on Friday. The company has a debt-to-equity ratio of -8.84, a current ratio of 4.22 and a quick ratio of 4.22. Cogent Communications Holdings, Inc. has a 12-month low of $35.75 and a 12-month high of $54.85. The stock has a market capitalization of $2,162.18, a P/E ratio of 130.69, a P/E/G ratio of 12.27 and a beta of 0.65.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.06). Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. The business had revenue of $123.00 million during the quarter, compared to analyst estimates of $123.60 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Cogent Communications’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts anticipate that Cogent Communications Holdings, Inc. will post 0.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 17th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.92 dividend on an annualized basis and a yield of 4.08%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.46. Cogent Communications’s dividend payout ratio is 533.33%.

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Cogent Communications 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 (NASDAQ:CCOI)

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