Cogent Communications Holdings, Inc. (NASDAQ:CCOI) posted its quarterly earnings results on Thursday. The technology company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02, MarketWatch Earnings reports. Cogent Communications Holdings had a net margin of 3.45% and a negative return on equity of 33.66%. The business had revenue of $119.80 million during the quarter, compared to analyst estimates of $120.23 million. During the same period last year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis.

Cogent Communications Holdings (NASDAQ CCOI) traded up 4.31% during mid-day trading on Thursday, reaching $42.35. 674,159 shares of the company’s stock were exchanged. Cogent Communications Holdings has a 52-week low of $34.23 and a 52-week high of $45.25. The company has a market cap of $1.93 billion, a PE ratio of 124.56 and a beta of 0.74. The stock has a 50-day moving average price of $41.28 and a 200 day moving average price of $41.63.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, August 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 4.34%. Cogent Communications Holdings’s payout ratio is 502.87%.

Several research analysts have recently commented on the stock. Cowen and Company lowered shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 price target for the company. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Off Wall Street assumed coverage on shares of Cogent Communications Holdings in a report on Monday. They issued a “sell” rating and a $29.00 price target for the company. Citigroup Inc. lifted their price target on shares of Cogent Communications Holdings from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Finally, BidaskClub raised shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Cogent Communications Holdings currently has an average rating of “Hold” and an average price target of $42.07.

In related news, VP Robert N. Beury, Jr. sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $40.20, for a total value of $120,600.00. Following the completion of the transaction, the vice president now directly owns 53,240 shares of the company’s stock, valued at $2,140,248. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were 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 of the company’s stock, valued at $1,732,843. The disclosure for this sale can be found here. Insiders have sold a total of 15,183 shares of company stock valued at $617,248 over the last ninety days. Company insiders own 9.48% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CCOI. Norges Bank purchased a new position in Cogent Communications Holdings during the fourth quarter valued at $13,374,000. Teachers Advisors LLC boosted its position in Cogent Communications Holdings by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 74,032 shares of the technology company’s stock valued at $3,061,000 after buying an additional 3,444 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Cogent Communications Holdings by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the technology company’s stock valued at $719,000 after buying an additional 200 shares in the last quarter. Capital Impact Advisors LLC boosted its position in Cogent Communications Holdings by 79.6% in the first quarter. Capital Impact Advisors LLC now owns 43,459 shares of the technology company’s stock valued at $1,871,000 after buying an additional 19,259 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Cogent Communications Holdings by 61.8% in the first quarter. Nisa Investment Advisors LLC now owns 7,120 shares of the technology company’s stock valued at $307,000 after buying an additional 2,720 shares in the last quarter. 95.00% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History for Cogent Communications Holdings (NASDAQ:CCOI)

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