UBS Asset Management Americas Inc. boosted its stake in Cogent Communications Holdings Inc (NASDAQ:CCOI) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,654 shares of the technology company’s stock after acquiring an additional 1,277 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.06% of Cogent Communications worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCOI. First Trust Advisors LP boosted its holdings in Cogent Communications by 16.6% in the 4th quarter. First Trust Advisors LP now owns 1,447,822 shares of the technology company’s stock worth $65,586,000 after acquiring an additional 206,001 shares during the period. APG Asset Management N.V. boosted its holdings in Cogent Communications by 125.6% in the 4th quarter. APG Asset Management N.V. now owns 193,600 shares of the technology company’s stock worth $7,304,000 after acquiring an additional 107,800 shares during the period. Assenagon Asset Management S.A. purchased a new position in Cogent Communications in the 4th quarter worth approximately $3,458,000. Russell Investments Group Ltd. boosted its holdings in Cogent Communications by 57.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 176,265 shares of the technology company’s stock worth $8,619,000 after acquiring an additional 64,167 shares during the period. Finally, Convergence Investment Partners LLC boosted its holdings in Cogent Communications by 259.8% in the 3rd quarter. Convergence Investment Partners LLC now owns 75,969 shares of the technology company’s stock worth $3,715,000 after acquiring an additional 54,856 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

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Cogent Communications Holdings Inc (NASDAQ:CCOI) opened at $42.60 on Friday. The company has a market capitalization of $2,006.02, a P/E ratio of 113.95, a PEG ratio of 5.80 and a beta of 0.53. The company has a debt-to-equity ratio of -6.93, a quick ratio of 4.11 and a current ratio of 4.11. Cogent Communications Holdings Inc has a one year low of $35.75 and a one year high of $54.85.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, February 22nd. The technology company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The business had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $126.27 million. Cogent Communications had a net margin of 1.21% and a negative return on equity of 21.64%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. sell-side analysts anticipate that Cogent Communications Holdings Inc will post 0.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Friday, March 9th will be given a dividend of $0.50 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Thursday, March 8th. Cogent Communications’s dividend payout ratio is currently 1,538.58%.

CCOI has been the subject of a number of analyst reports. Zacks Investment Research upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Monday, January 15th. BidaskClub cut Cogent Communications from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Deutsche Bank reduced their target price on Cogent Communications from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Guggenheim initiated coverage on Cogent Communications in a research note on Tuesday, March 13th. They set a “neutral” rating and a $45.00 target price for the company. Finally, ValuEngine cut Cogent Communications from a “hold” rating to a “sell” rating in a research note on Monday. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $44.20.

In related news, Director Tim Weingarten sold 1,700 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $43.60, for a total transaction of $74,120.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Henry W. Kilmer sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $43.36, for a total value of $130,080.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,000 shares of company stock worth $617,633. Corporate insiders own 9.48% of the company’s stock.

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Cogent Communications 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.

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

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