Prudential Financial Inc. grew its position in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,550 shares of the technology company’s stock after purchasing an additional 3,441 shares during the quarter. Prudential Financial Inc. owned approximately 0.16% of Cogent Communications worth $3,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CCOI. Flinton Capital Management LLC lifted its holdings in Cogent Communications by 63.4% in the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after buying an additional 1,024 shares during the period. Sei Investments Co. lifted its holdings in Cogent Communications by 29.7% in the 2nd quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock worth $117,000 after buying an additional 670 shares during the period. Pacad Investment Ltd. purchased a new stake in Cogent Communications in the 2nd quarter worth approximately $140,000. PNC Financial Services Group Inc. lifted its holdings in Cogent Communications by 1,919.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock worth $151,000 after buying an additional 3,589 shares during the period. Finally, Riverhead Capital Management LLC lifted its holdings in Cogent Communications by 66.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock worth $167,000 after buying an additional 1,663 shares during the period. Institutional investors and hedge funds own 95.61% of the company’s stock.

Shares of Cogent Communications Holdings Inc (NASDAQ CCOI) traded down $0.05 during trading hours on Friday, reaching $46.85. The company’s stock had a trading volume of 319,500 shares, compared to its average volume of 331,404. The stock has a market capitalization of $2,150.00, a PE ratio of 131.11, a price-to-earnings-growth ratio of 12.31 and a beta of 0.65. Cogent Communications Holdings Inc has a 1-year low of $35.75 and a 1-year high of $54.85. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of -8.84.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.48 per share. This is a boost from Cogent Communications’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, November 16th. This represents a $1.92 dividend on an annualized basis and a yield of 4.10%. Cogent Communications’s payout ratio is presently 548.57%.

In other Cogent Communications news, Director Tim Weingarten sold 1,616 shares of Cogent Communications stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $45.97, for a total value of $74,287.52. Following the completion of the sale, the director now owns 18,686 shares of the company’s stock, valued at approximately $858,995.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy G. Oneill sold 2,000 shares of Cogent Communications stock in a transaction 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 completion of the sale, the vice president now directly owns 39,052 shares of the company’s stock, valued at approximately $1,903,785. The disclosure for this sale can be found here. Insiders have sold 10,616 shares of company stock valued at $497,618 in the last quarter. 9.48% of the stock is owned by company insiders.

A number of research analysts have recently commented on the company. Deutsche Bank raised their target price on Cogent Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Monday, October 9th. Royal Bank Of Canada restated a “buy” rating and issued a $48.00 target price on shares of Cogent Communications in a research note on Monday, September 18th. SunTrust Banks cut Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a research note on Friday, November 3rd. Finally, Cowen restated a “hold” rating and issued a $46.00 target price on shares of Cogent Communications in a research note on Friday, August 4th. Five 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. The company currently has an average rating of “Hold” and an average target price of $43.77.

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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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