Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Lewis H. Ferguson sold 570 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $61.53, for a total transaction of $35,072.10. Following the transaction, the director now directly owns 5,610 shares in the company, valued at $345,183.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

CCOI stock traded up $0.77 during trading hours on Friday, hitting $62.77. The company’s stock had a trading volume of 9,892 shares, compared to its average volume of 205,236. The company has a market capitalization of $2.88 billion, a PE ratio of 99.48, a price-to-earnings-growth ratio of 8.88 and a beta of 0.58. Cogent Communications Holdings Inc has a 12 month low of $42.40 and a 12 month high of $64.91. The stock has a 50 day moving average price of $60.97 and a two-hundred day moving average price of $59.49.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.12. The company had revenue of $136.94 million during the quarter, compared to the consensus estimate of $136.50 million. Cogent Communications had a net margin of 6.91% and a negative return on equity of 21.84%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, analysts predict that Cogent Communications Holdings Inc will post 0.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Friday, November 22nd were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, November 21st. Cogent Communications’s payout ratio is presently 406.35%.

Institutional investors have recently modified their holdings of the company. Strs Ohio raised its stake in Cogent Communications by 1,150.0% during the 2nd quarter. Strs Ohio now owns 2,500 shares of the technology company’s stock valued at $148,000 after purchasing an additional 2,300 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Cogent Communications by 2.0% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 50,630 shares of the technology company’s stock valued at $3,005,000 after buying an additional 1,010 shares in the last quarter. Aperio Group LLC raised its stake in shares of Cogent Communications by 17.7% in the 2nd quarter. Aperio Group LLC now owns 25,356 shares of the technology company’s stock valued at $1,505,000 after buying an additional 3,818 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Cogent Communications by 22.4% in the 2nd quarter. Advisor Group Inc. now owns 2,359 shares of the technology company’s stock valued at $141,000 after buying an additional 432 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Cogent Communications by 16.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 42,527 shares of the technology company’s stock valued at $2,524,000 after buying an additional 6,097 shares in the last quarter. Institutional investors and hedge funds own 85.14% of the company’s stock.

Several research firms have commented on CCOI. ValuEngine downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on shares of Cogent Communications from $54.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 13th. Wells Fargo & Co reissued a “hold” rating on shares of Cogent Communications in a research report on Friday, December 6th. BidaskClub downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $64.40.

About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

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