Systematic Financial Management LP reduced its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,350 shares of the technology company’s stock after selling 1,670 shares during the quarter. Systematic Financial Management LP owned approximately 0.09% of Cogent Communications Holdings worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in CCOI. BlackRock Inc. increased its position in 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 worth $213,356,000 after buying an additional 4,952,008 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in Cogent Communications Holdings in the second quarter worth $10,759,000. First Trust Advisors LP increased its position in Cogent Communications Holdings by 23.0% in the second quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock worth $56,685,000 after buying an additional 264,597 shares during the last quarter. River Road Asset Management LLC purchased a new stake in Cogent Communications Holdings in the second quarter worth $8,800,000. Finally, Jennison Associates LLC increased its position in Cogent Communications Holdings by 13.1% in the second quarter. Jennison Associates LLC now owns 1,867,749 shares of the technology company’s stock worth $74,897,000 after buying an additional 215,940 shares during the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $48.00 price target on shares of Cogent Communications Holdings in a research report on Monday. Cowen and Company reiterated a “hold” rating and issued a $46.00 price target on shares of Cogent Communications Holdings in a research report on Friday, August 4th. BidaskClub cut Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research cut Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Off Wall Street assumed coverage on Cogent Communications Holdings in a research report on Monday, July 31st. They issued a “sell” rating and a $29.00 price target for the company. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Cogent Communications Holdings currently has a consensus rating of “Hold” and a consensus target price of $42.45.

In other Cogent Communications Holdings news, VP Henry W. Kilmer sold 3,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the sale, the vice president now owns 36,600 shares in the company, valued at approximately $1,700,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Raymond B. Kummer sold 4,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $46.62, for a total value of $186,480.00. Following the completion of the sale, the vice president now owns 53,340 shares of the company’s stock, valued at approximately $2,486,710.80. The disclosure for this sale can be found here. Insiders sold a total of 30,466 shares of company stock valued at $1,365,104 in the last quarter. 9.48% of the stock is currently owned by company insiders.

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Cogent Communications Holdings, Inc. (CCOI) opened at 47.85 on Monday. The stock has a market capitalization of $2.14 billion, a PE ratio of 136.71 and a beta of 0.71. Cogent Communications Holdings, Inc. has a 52-week low of $34.23 and a 52-week high of $47.88. The company’s 50-day moving average price is $44.16 and its 200 day moving average price is $42.20.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The business had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $120.23 million. During the same quarter in the previous year, the company posted $0.09 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts forecast that Cogent Communications Holdings, Inc. will post $0.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Wednesday, August 16th. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s dividend payout ratio is presently 511.11%.

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.

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

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