Cogent Communications (NASDAQ:CCOI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Cogent Communications Holdings Inc. specializes in providing businesses with high speed Internet access, Ethernet transport, and colocation services. It offers on-net Internet access services to bandwidth-intensive users and on-net services in carrier-neutral co-location facilities, company controlled data centers, and single-tenant office buildings. In addition, it offers off-net services to businesses that are connected to its network primarily by means of ‘last mile’ access service lines obtained from other carriers primarily in the form of point-to-point carrier Ethernet, TDM, POS, SDH, and/or carrier Ethernet circuits. Cogent Communications Holdings Inc., formerly known as Cogent Communications Group, Inc., is headquartered in Washington, the District of Columbia. “

Other analysts also recently issued research reports about the stock. Deutsche Bank upped their price target on shares of Cogent Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, October 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $48.00 price target on shares of Cogent Communications in a research report on Monday, September 18th. BidaskClub upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Jefferies Group upped their price target on shares of Cogent Communications from $39.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Finally, SunTrust Banks downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research report on Friday, November 3rd. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Cogent Communications presently has an average rating of “Hold” and a consensus target price of $42.18.

Cogent Communications (NASDAQ:CCOI) traded down $0.85 during mid-day trading on Tuesday, reaching $44.45. 187,382 shares of the company traded hands, compared to its average volume of 337,927. Cogent Communications has a 1 year low of $37.85 and a 1 year high of $54.85. The stock has a market cap of $2,040.00, a P/E ratio of 127.00, a price-to-earnings-growth ratio of 6.41 and a beta of 0.58. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.06). Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. The business had revenue of $123.00 million during the quarter, compared to analysts’ expectations of $123.60 million. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts anticipate that Cogent Communications will post 0.38 EPS for the current year.

In other news, VP Robert N. Beury, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $46.51, for a total transaction of $139,530.00. Following the transaction, the vice president now directly owns 47,240 shares of the company’s stock, valued at approximately $2,197,132.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thaddeus Gerard Weed sold 2,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $45.81, for a total transaction of $91,620.00. Following the transaction, the chief financial officer now directly owns 67,650 shares in the company, valued at $3,099,046.50. The disclosure for this sale can be found here. Insiders sold a total of 13,250 shares of company stock worth $611,435 over the last three months. 9.48% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Flinton Capital Management LLC grew its stake in shares of Cogent Communications by 63.4% during the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,024 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Cogent Communications by 1,919.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock worth $151,000 after purchasing an additional 3,589 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Cogent Communications by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock worth $167,000 after purchasing an additional 1,663 shares during the period. Sei Investments Co. grew its stake in shares of Cogent Communications by 42.4% during the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock worth $203,000 after purchasing an additional 1,240 shares during the period. Finally, Pinebridge Investments L.P. grew its stake in shares of Cogent Communications by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock worth $217,000 after purchasing an additional 53 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

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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.

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