Cowen and Company reiterated their hold rating on shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in a report released on Friday morning. They currently have a $42.00 price objective on the technology company’s stock.

A number of other research firms have also issued reports on CCOI. Zacks Investment Research lowered Cogent Communications Holdings from a hold rating to a sell rating in a report on Monday, May 1st. Citigroup Inc. raised their price target on Cogent Communications Holdings from $44.00 to $47.00 and gave the stock a neutral rating in a report on Tuesday, April 25th. BidaskClub upgraded shares of Cogent Communications Holdings from a hold rating to a buy rating in a research report on Monday, July 24th. Royal Bank Of Canada restated a buy rating and issued a $45.00 price objective on shares of Cogent Communications Holdings in a research report on Sunday, July 9th. Finally, Deutsche Bank AG restated a buy rating and issued a $48.00 price objective (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $42.53.

Cogent Communications Holdings (NASDAQ:CCOI) opened at 41.75 on Friday. Cogent Communications Holdings has a one year low of $34.23 and a one year high of $45.25. The firm has a market cap of $1.86 billion, a PE ratio of 122.79 and a beta of 0.73. The stock has a 50 day moving average price of $41.28 and a 200 day moving average price of $41.63.

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

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In related news, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications Holdings stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $40.25, for a total transaction of $40,250.00. Following the completion of the transaction, the vice president now directly owns 43,052 shares in the company, valued at approximately $1,732,843. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tim Weingarten sold 2,383 shares of Cogent Communications Holdings stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $40.15, for a total value of $95,677.45. Following the transaction, the director now owns 19,652 shares of the company’s stock, valued at $789,027.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,183 shares of company stock valued at $575,298. Insiders own 9.48% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Cogent Communications Holdings by 125,208.8% in the first quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock valued at $213,356,000 after buying an additional 4,952,008 shares in the last quarter. FMR LLC increased its position in shares of Cogent Communications Holdings by 5.9% in the first quarter. FMR LLC now owns 3,118,604 shares of the technology company’s stock valued at $134,256,000 after buying an additional 173,379 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Cogent Communications Holdings by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,813,500 shares of the technology company’s stock valued at $78,071,000 after buying an additional 187,400 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cogent Communications Holdings by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,333,805 shares of the technology company’s stock valued at $57,420,000 after buying an additional 97,938 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Cogent Communications Holdings by 12.6% in the first quarter. First Trust Advisors LP now owns 1,148,991 shares of the technology company’s stock valued at $49,464,000 after buying an additional 128,414 shares in the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.

About Cogent Communications Holdings

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.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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